According to the data, LED as a light source of plant lighting has many advantages such as high photoelectric conversion efficiency, easy spectrum control and combination, small size, long life, and low energy consumption compared with traditional light sources.
In 2021, the global demand for plant lighting LED lamps is 3.2 billion US dollars and will reach 7 billion US dollars by 2026. The global plant lighting system-level market in 2017 is only about 3.8 billion US dollars; in 2027, it will rapidly increase to 17 billion US dollars, with a compound annual growth rate of 16%; the LED device level market is only US$100 million in 2017, and will expand to 700 million US dollars in 2027; The compound growth rate reached 21%.
In addition, with the improvement of LED light efficiency, the continuous reduction of costs, and the domestic and local policy support for digital and modern agriculture, Guosheng Securities said that the future LED plant lighting solution will solve the problem of limited land resources and unstable climate. It plays an important role in the influence of sexuality, and there is huge room for development.