Grow Light Market Growth, Trends, Product, Forecast Research, 2024

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Grow Light Market projected to grow at a high
rate by 2024 Global Market Insights, Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Regional Analysis of Grow Light Market

• The grow light market in economies including the
  U.S., Canada, and the UK due to their higher
  spending capacity dominates in terms of revenue.
• Grow light market is expanding in countries
  including Northern Canadian states, Siberia, and
  parts of Argentina and Chile, where natural
  sunlight is available for fewer hours as the
  night time exceeds daytime hours.
• The devices are used in these regions to support
  the crop growth in the absence of natural
  sunlight.

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• Application Analysis of Grow Light Market
• Grow light market has a promising scope for
  expansion by facilitating the use of automated
  and semi-automated farming techniques. For
  instance, automated facilities enable the user to
  have the added flexibility of concentrating on
  the other aspects of farming. With the
  commercialization of IoT, grow light market
  expansion will receive further impetus. There is
  a high demand for remote and connected
  technologies for better convenience and higher
  efficiency.
• Fluorescent LED devices exhibit varied spectrums
  of wavelength output and can drive the grow light
  market in the near future. For instance, the warm
  and red spectrum is recommended for the growth of
  flowers and the cool and blue spectrum is
  preferred for vegetative growth.

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Competitive Market Share of Grow Light Market

• Players in the grow light market include
  Aerofarms Ltd., Gavita Holland B.V., Lumileds
  Holding B.V., Philips Lighting Ltd., OSRAM Licht
  Group, Valoya Ltd., Heliospectra AB, Sunlight
  Supply, Inc., and Fluence Bioengineering, Inc.
• Manufacturers are required to focus on product
  launches, collaborations, strategic partnerships,
  mergers, and acquisitions to sustain advancements
  in the grow light market. Continuous RD
  activities help in reducing the costs of devices,
  furthering the expansion of grow light market.
• Valoya Ltd. launched a new product line titled BL
  series in January 2018.

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