The global horticulture lighting market valued $3.2 billion in 2019, and it is projected to reach $20.3 billion by 2030, witnessing a CAGR of 18.1% during the forecast period (2020–2030). The rising government support for energy-efficient lights, burgeoning demand for agricultural products, and decriminalizing of marijuana use for medical purposes in numerous nations are responsible for the market advance.

The global horticulture lighting market valued $3.2 billion in 2019, and it is projected to reach $20.3 billion by 2030, witnessing a CAGR of 18.1% during the forecast period (2020–2030). The rising government support for energy-efficient lights, burgeoning demand for agricultural products, and decriminalizing of marijuana use for medical purposes in numerous nations are responsible for the market advance.