Across the world, markets for LED agricultural grow lights are growing as many agricultural companies are adopting this technology to grow plants indoor and efficiently. Grow lights give artificial light to grow plants. The spectrum of these lights is tuned to the plant growing pattern. Plant light has photons from the blue to red (400-700 nm) part of the spectrum, which is called growth light.
According to a RnRMarketResearch report, since LEDs are less costly than other alternatives and also save electricity costs significantly, companies are rapidly adopting LED lighting to grow plants indoor and also using them commercially. Demand for LED grow lights are, therefore, growing worldwide significantly.
In 2014, LED grow light module markets was at $395 million, which is forecast to touch $1.8 billion by 2021. The report says that rapid growth is predicted as greenhouse and plant factory growers find LED grow lights improve agriculture yeild.
Greenhouse and plant factory growers find LED grow lights more powerful and efficient than the older generation high-pressure sodium and metal halide grow lights. LED grow lights lower the electricity bill and produce less heat. Less heat helps putting the light closer to the plants, and the plants do not get burned.
Growers found that they can achieve return on investment faster by reducing energy costs required for using grow lights, increasing the growing season, cutting down chemical contaminants in food supply, and by decreasing transportation costs for food production.