According to the latest publication by Meticulous Research®, the grow lights market is expected to reach $8.5 billion by 2030, with a CAGR of 20.6%. Growth is driven by increased R&D for hybrid plants, the rise of vertical farming, and the need for improved agricultural efficiency and food safety. The market also benefits from the growing adoption of urban farming.

High set-up costs may restrict market growth, but technological advancements in LED grow lights and smart farming technologies offer significant opportunities. The market faces challenges such as varying lighting spectrum needs and a lack of standardized testing practices for horticultural lights.

Meticulous Research® has thoroughly segmented the market based on offering, type, application, farming type, sales channel, and geography for efficient analysis. The study evaluates competitors and provides detailed market insights at regional and country levels.