According to Cognitive Market Research, the global LED Agricultural Lighting market size will be USD 11542.2 million in 2024. It will rise at the compound annual growth rate (CAGR) of 13.20% from 2024 to 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 4616.88 million in the year 2024 and will rise at the compound annual growth rate (CAGR) of 11.4% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 3462.66 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 2654.71 million in the year 2024 and will rise at the compound annual growth rate (CAGR) of 15.2% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 577.11 million in teh year 2024 and will rise at the compound annual growth rate (CAGR) of 12.6% from the year 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 230.84 million in 2024 and will rise at the compound annual growth rate (CAGR) of 12.9% from the year 2024 to 2031.
The vertical farming category is the fastest growing segment of the LED Agricultural Lighting industry
