Horticultural LED Revenue Up Nearly 40 Percent In 2020

Owing to the gradual legalisation of marijuana cultivation and the pandemic-induced surge of recreational and medical marijuana markets in North America, horticultural LED has become one of the fastest-growing lighting markets in 2020, according to TrendForce's latest investigations.

Global yearly horticultural LED revenue is expected to reach $158 million in 2020, a 39.7 percent increase YoY.

At the moment, major horticultural LED brands include Signify, Fluence by Osram, GE Current, Illumitex, Heliospectra, and Sananbio, with equipment efficiency and reliability being the primary technological determinants of brand adoption.