The article cited AMA's "Global Plant Factory Grow Lights Market Study" explored CAGR of %. According to the report, Growing Adoption of LED Grow Lights Due to Low Energy Usage and Its Effectiveness is one of the primary growth factors for the market. Increasing Demand of Organic Vegetables and Fruits Due to Growing Health-Conscious Population
is also expected to contribute significantly to the Plant Factory Grow Lights market. Overall, Vertical Farming
applications of Plant Factory Grow Lights, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Distribution Channel, such as Online, is boosting the Plant Factory Grow Lights market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global Plant Factory Grow Lights market identified that the demand is rising in many different parts of the world as "High Adoption by the Snowy Countries Due to Lack of Sufficient Sun lightings During Winter".
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Plant Factory Grow Lights market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
**The market is valued based on weighted average selling price (WASP) and includes any applicable taxes on manufacturers. All currency conversions used in the creation of this report have been calculated using constant annual average 2018 currency rates.
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Plant Factory Grow Lights market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall Plant Factory Grow Lights market size is calculated using market estimation process, the Plant Factory Grow Lights market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the Global Plant Factory Grow Lights market size has been validated using both top-down and bottom-up approaches.