LEDs Light the Way for Growers

By Karen Marcus, Contributing Analyst for Guidehouse Insights and Neil Strother, Principal Research Analyst at Guidehouse Insights

The rising acceptance of LED technology and the increase in cannabis cultivation in the US, Europe, and Asia Pacific are the two primary aspects driving the horticulture lighting market in 2021. These factors are tied together because cannabis growers have better results using LED lighting than from using other lighting technologies. The benefits of using LED lighting include high levels of effectiveness, lower operating costs, energy efficiency, decreasing product prices, and improved safety.

In the coming months and years, lighting experts anticipate the use of LED lighting to increase and lead the horticulture market, with legacy technologies falling behind. This trajectory will likely continue as more US states and regulators in other world regions legalize cannabis, and as growers of other crops adopt LED technology for their operations.

A new Guidehouse Insights report, LED Lighting for Horticultural Applications, provides an overview of the market potential for horticultural lighting with a focus on LEDs, covering unit sales and annual revenue. It considers three types of horticultural applications: cannabis, produce, and floriculture. This report also covers four primary technology types: LEDs, HPS, fluorescent, and metal halide. The report’s forecast period extends through 2030 and covers all major global regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

A broad spectrum of market stakeholders should find value in the report, including: LED lighting manufacturers; cannabis; produce and floriculture growers; regulators; members of organizations related to energy; lighting; or farming; and those in the investor community that follow these market segments. The report provides the following details:

• How expanding cannabis legalization is affecting LED lighting sales
• Why other factors increase LED lighting sales
• How various factors differ between world regions
• What lighting experts anticipate in the LED lighting market over the next 10 years
• Which companies are key industry players in the LED lighting market
• What lighting experts recommend for vendors, growers, and regulators to make the most of LED lighting technology

Readers can download the free executive summary or purchase the report at Guidehouse Insights.