Market Share of LED Farming Industry
The market is highlycompetitive witha few internationally established players as well as several regional players vying for a higher market share in the emerging market for LED lights in farming. The key players in the market include Koninklijke Philips N.V., Gavita International B.V., General Electric Company, OSRAM Opto Semiconductors GmbH, Heliospectra AB, Hortilux Schreder B.V., and Illumitex, among others. Mergers and acquisitions, innovation, diversification of product portfolios, and investments are some of the most adopted strategies of these players for penetrating the evolving market with an all-encompassing Research & Development approach. For instance, Heliospectra launched thenew modular LED lighting series, MITRA,in May 2019, which provides high-intensity light output and electrical efficacy of up to 2.7 µmol/J forcommercial greenhouses, indoor, and vertical farms.In 2018, OSRAM acquired Fluence Bioengineering, a Texas-based leading provider of LED lighting for commercial crop production, in a bid to enhance its outreach in Europe, the Middle East, and Africa regions.
LED Farming Market Leaders
Koninklijke Philips N.V.
Gavita International B.V.
General Electric Company
OSRAM Opto Semiconductors GmbH
Heliospectra AB
*Disclaimer: Major Players sorted in no particular order
