In an article for Energy Central, Guidehouse Insights says lighting experts anticipate the use of LED lighting will increase and lead the horticulture market, with legacy technologies falling behind
The rising acceptance of LED technology and the increase in cannabis cultivation are the two primary aspects driving the horticulture lighting market in 2021. These factors are tied together because cannabis growers have better results using LED lighting than from using other lighting technologies.
In an article for Energy Central, Karen Marcus, contributing analyst for Guidehouse Insights, says the use of LED lighting is likely to increase and lead the horticulture market, with legacy technologies falling behind.
“This trajectory is expected to continue as more US states and regulators in other world regions legalize cannabis, and as growers of other crops adopt LED technology for their operations,” Marcus said.
The article cites a new Guidehouse Insights report, LED Lighting for Horticultural Applications, which provides an overview of the market potential for horticultural lighting with a focus on LEDs, covering unit sales and annual revenue. The report considers three types of horticultural applications: cannabis, produce, and floriculture. This report also covers four primary technology types: LEDs, HPS, fluorescent, and metal halide. The forecast period extends through 2030 and covers all major global regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
“Benefits of using LED lighting are wide-ranging and include high levels of effectiveness, lower operating costs, energy efficiency, decreasing product prices, and improved safety,” Marcus said.