Rise in Investments in Agricultural Sector is Increasing the Demand for LED Grow Lights
The global food economy is currently facing a constant pressure to increase the rate of production owing to a burgeoning population and rapid urbanization. To fulfil the food requirements of the burgeoning population by 2050, both public and private stakeholders are resorting to alternate, yet sustainable agricultural practices. This can partly be achieved by the newage farming technologies emerging across the globe. The use of LED grow lights in farming is aimed at increasing the yield of crops through indoor farming, with levels reaching as high as multiple times that of traditional farming. In the wake of extensive technological advancement in the lighting industry, there has been a constant development of cost and energy efficient lighting systems.
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The disruption of Light Emitting Diode (LED) lighting systems in the industry has visibly become a success and has gained enormous recognition for the distinctive features it has to offer across all industries. Developed nations across North America and Europe have actively focussed on developments within the LED lighting industry and have adopted them in the past few years.
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The use of LED lighting in farming has found its way ever since the idea of indoor farming has floated around. Emerging nations, such as China, Japan, and Saudi Arabia are observing an extensive interest in mass adoption of such technologies to boost their agricultural economy. This robust growth has been largely propelled by the rise in investments in the agricultural sector, which in turn, have increased the demand for LED grow lights to carry out farming activities.
The increasing global demand for food has generated the need for an increase in indoor farming and cultivation of crops in greenhouses. This is attributed to the constantly decreasing arable land and adverse climatic conditions that are creating havoc in the global agricultural industry due to changing environmental factors. Since traditional farming is gradually becoming unsuitable to produce crops in many regions, such as Middle East, North-Western Europe, and Russia, the need for controllable and customizable environmental conditions ideal for crop cultivation is increasing.
The LED grow lights play an integral role in creating one such environmental factor by acting as an adequate substitute to sunlight. With development in a range of LED grow lights, farmers have the option to customize according to their requirements for each plant to be grown.
The key market players in the global LED grow lights market include Signify N.V., OSRAM Litch AG, Current by GE, Heliospectra AB, Valoya, Stadium Grow Lighting, and Agrilight B.V., among others.