The horticultural LED lighting market reached almost US$3.8 billion in 2017, currently driven mainly by greenhouse applications. The future should be different however. Indeed Yole Développement (Yole) and PISEO, both part of the Yole Group of companies, investigated this domain and analyzed related LED-based technologies and market demands. According to their Horticultural LED Lighting report , greenhouse applications will not maintain their leadership in the mid and long term and are only the tip of the iceberg. Emerging applications, including urban farming, are likely to make the horticultural lighting market boom with a 16.4% CAGR between 2018 and 2023.
In this context, it is not surprising to discover Jeff Bezos’ support for a vertical farms project in China. In a recent article, a journalist announced a 300 vertical farms project in China, supported by Amazon Chief Executive Jeff Bezos and Alphabet Executive Chairman Eric Schmidt .
According to this article, a start-up named Plenty has raised more than $200 million, thanks to the Softbank Group and investment funds. Entering the Chinese market, Plenty hopes to tap into the country’s growing demand for organic foods… Full article