Indoor Vertical Farming Lighting Market was valued at USD 1.4 Billion in 2022 and is projected to reach USD 5.6 Billion by 2030, growing at a CAGR of 19.2% from 2024 to 2030.
The global indoor vertical farming lighting market was valued at approximately USD 1.5 billion in 2022. This market is projected to grow at a robust Compound Annual Growth Rate (CAGR) of 23.5% from 2023 to 2028, reflecting the increasing adoption of vertical farming systems across urban areas and the rising demand for high-efficiency lighting solutions. This growth trajectory is driven by the need for sustainable food production methods and advancements in lighting technology that enhance crop yields and energy efficiency. As a result, the market is expected to reach around USD 4.8 billion by the end of the forecast period.
Opportunity analysis for the indoor vertical farming lighting market highlights several key factors contributing to its expansion. Technological innovations, such as the development of LED lighting systems with improved spectra and energy savings, are creating new avenues for growth. Additionally, the increasing focus on reducing the carbon footprint of agriculture and the support from governmental policies for urban agriculture further bolster market opportunities. Emerging markets in Asia-Pacific and Europe are also anticipated to present significant growth potential, driven by urbanization and rising investment in agricultural technology.
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Philips Lighting
Everlight Electronics
Netafim
Argus Controls Systems
LumiGrow
Valoya
Vertical Farm Systems
OSRAM
General Hydroponics
Richel Group
Agrilution
LED iBond
Oreon
BIOS Lighting
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Indoor Vertical Farming Lighting Market
Family Farming
Commercial Farming
Based on Types the Market is categorized into Below types that held the largest Indoor Vertical Farming Lighting market share In 2023.
Fluorescent Lights
LED Lights
HPS Lights
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Indoor Vertical Farming Lighting Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Indoor Vertical Farming Lighting Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Indoor Vertical Farming Lighting Market, By Type
6. Global Indoor Vertical Farming Lighting Market, By Application
7. Global Indoor Vertical Farming Lighting Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Indoor Vertical Farming Lighting Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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