According to TrendForce’s latest report “Gold+ Member: Global LED Market Demand and Supply Database and LED Industry Quarterly Update”, the market value of LEDs shrunk to USD 12.608 billion in 2023 due to multiple negative factors such as sluggish end-market demand, slow inventory depletion for LEDs, and fierce price wars. Entering 2024, the market demand for automotive lighting and displays, lighting (i.e., general, architectural, and agricultural lighting), LED video walls, UV/IR LEDs are likely to recover gradually. Additionally...

According to TrendForce’s latest report “Gold+ Member: Global LED Industry Data Base and LED Player Movement Quarterly Update”, soaring raw material costs and high inflation caused by the Russia–Ukraine war and pandemic woes in China have slashed consumer market demand and increased end product inventories. Therefore, TrendForce analyzes that the LED market value shrunk to USD 14.214 billion in 2022 (-19% YoY). Except for the 40% growth rate of the Mini LED backlight market, general lighting, architectural lighting, agricultural l...

  Acuity Brands, Inc. announced the launch of Verjure, a professional-grade horticultural LED fixture series, for indoor applications. The Verjure Pro Series LED luminaires are designed to support all stages of plant growth from veg to flower. The Series is available in three different sizes and outputs to support versatility in growing, including indoor warehouse, greenhouse, and vertical racks. The Verjure Pro Series is designed to meet and exceed the output of traditional 1000W HPS grow lights while delivering up to 40% energy savings. Horticulture ...

According to TrendForce’s latest report “Gold+ Member: Global LED Industry Data Base and LED Player Movement Quarterly Update”, economic activities have returned in all aspects as the COVID-19 pandemic began slowing down in 2021, boosting the global LED market scale to USD 17.65 billion (+15.4% YoY), a growth rate that beats expectations. Looking to the future, market value of Mini LED backlights and video walls will continue going up, along with increased automotive LED penetration, rising demand for high-end lighting, and expanded v...

According to TrendForce’s latest market research report 2022 Global LED Lighting Market Analysis-1H22, the lighting industry has increasingly emphasized the light quality of products (e.g., CRI, R9 value, and SDCM), and HCL for health. Moreover, the rising trends of luminaire digitalization and light- and color tuning in LED lighting products have stimulated smart LED penetration. Nowadays, new technological applications and potential demand have contributed to growth in the lighting market. TrendForce projects the global LED lighting market scale to ...

With hopes of revolutionizing agriculture, the plant factory sector has recently thrived. An increasing number of its vegetable products have entered the consumer market. However, several problems facing plant factories, such as high costs, poor crop quality and a low level of smartification, have remained unsolved. The initial construction of plant factories is too costly to be overlooked. To illustrate, the cost of a 5,000–10,000 m2 commercialized plant factory, including interior design and equipment and facility installation, ranges between 8,000 and 10,000 yuan ($1,577) pe...

Sep. 8, 2021 ---- Thanks 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 saw an explosive growth in 2020, reaching US$301 million, a 57% YoY increase, according to TrendForce’s 2021 Global LED Lighting Market Outlook - Light LED and LED Lighting Market Trend report. This growth is expected to maintain its momentum throughout 2021, during which the market is expected ...

According to TrendForce’s latest report “2021 Global Lighting LED and LED Lighting Market Outlook-2H21”, the LED general lighting market has comprehensively recovered with increasing demand for niche lighting, leading to growth in global markets of LED general lighting, horticultural lighting, and smart lighting in 2021–2022 to different extents.     A Remarkable Recovery in the General Lighting Market As vaccination coverage increases in various countries, economies worldwide begin to recuperate. Since 1Q21, the LE...

  At first glance, nothing would have suggested Marc Vincent would become a farmer barely 15 years ago. Up to that point, this engineer by trade had been a plant manager for a major industrial company, where electromechanics, automation and state-of-the-art technology were his passion and his bread and butter.   The Start of a Great Adventure   It all began when Marc and his wife, Aude, a horse lover, purchased a farm to board their animals. The orchard on the property in Saint-Joseph-du-Lac in Quebec’s Lower Laurentians had been abandoned....

According to TrendForce latest report Gold+ Member: Global LED Industry Data Base and LED Player Movement Quarterly Update, the COVID-19 pandemic is expected to be eased in 2021. Automotive LED, video wall and lighting market demand is expected to recover, and demand for Mini LEDs will take off as well. In addition, horticultural lighting and UV LED market demand will consistently grow quickly. According to TrendForce, the LED market value in 2021 is expected to increase to 16.531 billion. TrendFoce summarized seven major applications. Me...

Mainstream high- and mid-power LED package products in the Chinese market witnessed price declines in December, according to the latest report from LEDinside, a division of TrendForce. “LED manufacturers have continued to clear their inventories in December due to the weak demand at the year end, which lowered the prices in the general lighting market”, says LEDinside analyst Terri Wang. The average prices of high- and mid-power LED package products slid 2%~4% and 1%~8% respectively. Faced with the sluggish demand, LED packaging companies conti...

In recent years, the "plant factory" concept has been getting popular. Supporting Horticultural lighting has also been gaining attention. Chinese and international LED enterprises are both eager to participate in this lighting segment.