October 22, 2021

CHICAGO PIXELS

SEMICONDUCTOR RESEARCH CENTER

Increased demands on food safety to propel horticultural lighting LED revenue to $399m in 2021

Due to favorable policies by governments worldwide as well as massive adoption of horticultural LED lighting products in the medical and recreational marijuana markets in North America, horticultural lighting LED revenue grew 57% year-on-year to $301m in 2020, according to TrendForce’s report ‘2021 Global LED Lighting Market Outlook – Light LED and LED Lighting Market Trend’. The market is expected to maintain its momentum throughout 2021, growing 33% year-on-year to $399m…