Top 10 Vendors in the LED Lighting Market for Horticulture Application from 2016 to 2020
Several characteristics of LEDs such as low energy consumption and high life-expectancy have garnered attention from lighting manufacturers across the globe. As a result, manufacturers are investing heavily in developing LED lighting products for applications in the architectural, industrial, outdoor, office, retail, and residential sectors. Such developments are improving LED technology, resulting in better performance of LED lighting products.
This is driving the development of LEDs in horticulture applications. The manufacturers in lighting industry are focusing on the development of LED products, as they have several advantages over traditional lighting sources.
The competitive scenario of the global LED lighting market for horticulture applications is entirely different from the global LED market in other applications segments. In other applications, big players such as Cree, Nichia, Samsung LED, Philips lighting, OSRAM Opto Semiconductors, and Seoul Semiconductor dominate the market, while in the global LED lighting market for horticulture applications there are no dominant players. The market is flooded with several small players that have captured significant market share in their respective regions.