Cannabis Lights Market Size, Share, Analysis, Growth, Trends, Drivers, Opportunity And Forecast 2027

Cannabis Lights Market Overview:

The Cannabis Lights Market analysis provides a full insight into the competition, including the market share and company profiles of the key worldwide rivals. The scope of the research covers a thorough investigation of the Cannabis Lights Market, as well as the causes for variances in the industry's growth in different regions.

The Cannabis Lights Market size was valued at US$ 4.23 Bn. in 2021 and the total revenue is expected to grow at 11.5 % through 2021 to 2027, reaching nearly US$ 8.13 Bn.

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Market Scope:

Following the completion of market engineering, which comprised market statistics calculations, estimations of market size, market projections, market breakdown, and data triangulation, major primary research was conducted to obtain information and verify and validate critical numbers. Top-down and bottom-up strategies, as well as several data triangulation procedures, were often used throughout the market engineering process to perform market estimating and forecasting for the overall market segments and sub-segments discussed in this research. In order to give vital information throughout the report, extensive qualitative and quantitative analysis is done on all data gathered throughout the market engineering process.

Segmentation:

On the basis of technology, the HID (High Intensity Discharge) segment is projected to dominate the global cannabis lights market as it is used in commercial greenhouses and vertical farms which have the major market share amongst all other types of applications and hence this factor helps drive the market share of HID segment forward. On the basis of spectrum, partial spectrum segment is projected to dominate the market share because partial spectrum lights emit lights of various spectrum like blue, yellow or green. This variation is useful for different stages of the plant. Additionally, these lights can be used to target a specific growth stage of the cannabis plant which is desired by many cultivators.

On the basis of application, the commercial greenhouse segment is projected to dominate the global cannabis lights market due to technological advancements in the commercial greenhouse segment. Vertical farming segment is projected to grow significantly during the forecast period.

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Key Players:

Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives, while secondary research included a review of the main manufacturers' annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.

• The biggest players in the Cannabis Lights Market are as follows:

• AeroFarms (US)
• Everlight Electronics (Taiwan)
• Gavita (Netherlands)
• Heliospectra AB (Sweden)
• Hortilux Schréder (Netherlands)
• Illumitex (US)
• LumiGrow Inc (US)
• Osram Licht AG (Germany)
• Signify (Netherlands)
• Valoya (Finland)
• Claifornia Lightworks (US)
• Epistar (Taiwan)
• Iwasaki Electric (Japan)
• Bridgelux (US)
• Lumileds (Netherlands)

Regional Analysis:

Individual market influencing components and changes in market regulations affecting the present and future market trends are also included in the regional overview of the Cannabis Lights Market analysis. Current and future trends are researched in order to assess the entire market potential and identify profitable patterns in order to get a stronger foothold. The geographical market assessment is based on the present environment and expected developments.

COVID-19 Impact Analysis on Cannabis Lights Market:

End-user industries where Cannabis Lights Market is utilized saw a dip in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, Spain, France, and India, due to a pause in operations. This resulted in a significant decrease in the revenues of businesses working in these industries and, as a result, in demand for Cannabis Lights Market manufacturers, influencing the development of the Cannabis Lights Market in 2020. End-user business demand for Cannabis Lights Market has declined significantly as a result of lockdowns and an increase in COVID-19 events worldwide.

Key Questions Answered in the Cannabis Lights Market Report are:

• In 2021, which segment held the highest proportion of the Cannabis Lights Market?
• What is the Cannabis Lights Market's competitive landscape?
• What are the primary drivers assisting the Cannabis Lights Market growth?
• Which region has the most market share in the Cannabis Lights Market?
• What will be the Cannabis Lights Market's CAGR throughout the projected period?

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