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Grow Lights Market with Covid-19 Impact and Analysis by Offering (Hardware, Software & Services), Installation Type (New and Retrofit), Application (G...

by Offering (Hardware, Software & Services), Installation Type (New and Retrofit), Application (Greenhouses, Vertical Farms), Sales Channels, Spectrum, and Geography

Publisher:        MarketsandMarkets

# of Pages:        262

Rating: 

1 User License $4,950

Publication Date:  February, 2021

Price:       $4,950 / User License




TABLE OF CONTENTS

 

1              INTRODUCTION                34

1.1          STUDY OBJECTIVES          34

1.2          MARKET DEFINITION AND SCOPE             34

1.2.1      INCLUSIONS AND EXCLUSIONS  35

1.3          STUDY SCOPE    36

1.3.1      MARKETS COVERED        36

FIGURE 1             GROW LIGHTS MARKET SEGMENTATION              36

1.3.2      REGIONAL SCOPE            36

1.3.3      YEARS CONSIDERED        37

1.4          CURRENCY          37

TABLE 1                CURRENCY TABLE             37

1.5          LIMITATIONS     37

1.6          PACKAGE SIZE   37

1.7          SUMMARY OF CHANGES              38

1.8          STAKEHOLDERS 38

2              RESEARCH METHODOLOGY         39

2.1          RESEARCH DATA               39

FIGURE 2             GROW LIGHTS MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION  39

FIGURE 3             GROW LIGHTS MARKET: RESEARCH DESIGN         40

2.1.1      SECONDARY DATA           40

2.1.1.1   List of key secondary data            41

2.1.1.2   Key data from secondary sources             41

2.1.2      PRIMARY DATA 42

2.1.2.1   Breakdown of primaries               42

2.1.2.2   Key data from primary sources  43

2.1.2.3   Key industry insights      43

2.1.3      SECONDARY AND PRIMARY RESEARCH   44

2.2          PRIMARY PARTICIPANTS              45

2.2.1      SOME KEY PARTICIPANTS             45

2.3          MARKET SIZE ESTIMATION          45

FIGURE 4             MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE): REVENUE GENERATED BY COMPANIES FROM SOLUTIONS/PRODUCTS/SERVICES OFFERED IN GROW LIGHTS MARKET          46

FIGURE 5             MARKET SIZE ESTIMATION: RESEARCH METHODOLOGY 47

FIGURE 6             MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (DEMAND SIDE): ADOPTION LEVEL OF GROW LIGHTS BY DIFFERENT END USERS             47

FIGURE 7             MARKET SIZE ESTIMATION: DEMAND-SIDE ANALYSIS      48

2.3.1      BOTTOM-UP APPROACH              49

2.3.1.1   Approach for obtaining market size using bottom-up analysis     49

FIGURE 8             MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH    49

2.3.2      TOP-DOWN APPROACH                49

2.3.2.1   Approach for obtaining market size using top-down analysis       49

FIGURE 9             MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH      50

2.4          GROWTH FORECAST ASSUMPTIONS       50

2.5          MARKET BREAKDOWN AND DATA TRIANGULATION        51

FIGURE 10           DATA TRIANGULATION 51

2.6          RESEARCH ASSUMPTIONS           52

3              EXECUTIVE SUMMARY  53

FIGURE 11           GROW LIGHTS MARKET: PRE- AND POST-COVID-19 SCENARIO ANALYSIS,  2017–2026 (USD MILLION)       54

3.1          REALISTIC SCENARIO (POST-COVID-19)  54

3.2          OPTIMISTIC SCENARIO (POST-COVID-19)              54

3.3          PESSIMISTIC SCENARIO (POST-COVID-19)            55

FIGURE 12           RETROFIT INSTALLATIONS TO REGISTER HIGHER CAGR IN GROW LIGHTS MARKET DURING FORECAST PERIOD 55

FIGURE 13           GREENHOUSES TO ACCOUNT FOR LARGEST SIZE OF GROW LIGHTS MARKET DURING FORECAST PERIOD                56

FIGURE 14           TOPLIGHTING SEGMENT EXPECTED TO CONTINUE TO HOLD LARGER MARKET SIZE DURING 2021–2026   57

FIGURE 15           DISTRIBUTION CHANNELS TO ACCOUNT FOR LARGEST MARKET SIZE FROM 2021 TO 2026              57

FIGURE 16           EUROPE ACCOUNTED FOR LARGEST SHARE OF GROW LIGHTS MARKET IN 2020   58

4              PREMIUM INSIGHTS       59

4.1          ATTRACTIVE GROWTH OPPORTUNITIES IN GROW LIGHTS MARKET           59

FIGURE 17           INCREASING ADOPTION OF CONTROLLED ENVIRONMENT AGRICULTURE IN URBAN AREAS DRIVE DEMAND FOR GROW LIGHTS          59

4.2          GROW LIGHTS MARKET, BY APPLICATION             59

FIGURE 18           GREENHOUSES TO DOMINATE GROW LIGHTS MARKET IN 2026  59

4.3          GROW LIGHTS MARKET IN APAC, BY APPLICATION AND COUNTRY           60

FIGURE 19           GREENHOUSES AND JAPAN HELD LARGEST SHARE OF GROW LIGHTS MARKET IN APAC, BY APPLICATION AND COUNTRY, RESPECTIVELY, IN 2020  60

4.4          GROW LIGHTS MARKET, BY SALES CHANNEL        60

FIGURE 20           DISTRIBUTION CHANNELS TO ACCOUNT FOR LARGEST SIZE OF GROW LIGHTS MARKET THROUGHOUT FORECAST PERIOD           60

4.5          GROW LIGHTS MARKET, BY CULTIVATED PLANT 61

FIGURE 21           CANNABIS TO RECORD HIGHER CAGR IN GROW LIGHTS MARKET DURING FORECAST PERIOD      61

4.6          GROW LIGHTS MARKET, BY INSTALLATION TYPE                61

FIGURE 22           RETROFIT INSTALLATIONS TO CAPTURE SIGNIFICANT SHARE OF GROW LIGHTS MARKET IN 2026                61

4.7          GROW LIGHTS MARKET, BY REGION        62

FIGURE 23           EUROPE TO EXHIBIT LARGEST MARKET SHARE IN GROW LIGHTS MARKET DURING 2021–2026      62

5              MARKET OVERVIEW       63

5.1          INTRODUCTION                63

5.2          MARKET DYNAMICS       63

FIGURE 24           GROW LIGHTS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES,  AND CHALLENGES      63

5.2.1      DRIVERS               64

5.2.1.1   Strong government support for adoption of solid-state lighting technology and controlled-environment agriculture (CEA) practices  64

TABLE 2                INCENTIVES IN US STATES FOR ADOPTION OF LED GROW LIGHTS              64

5.2.1.2   Increased investments in establishing vertical farms and greenhouses and associated advanced technologies     65

TABLE 3                LIST OF NOTICEABLE INVESTMENTS IN VERTICAL AND GREENHOUSE FARMING  66

5.2.1.3   Remarkable benefits such as energy-efficiency and longer life associated with LED grow lights over conventional lighting technologies      67

TABLE 4                TYPICAL SPECIFICATIONS OF LED VS. HID              67

TABLE 5                REDUCTION IN HARVEST CYCLE USING LED HORTICULTURE LIGHTING  ON CANNABIS STRAINS   68

5.2.1.4   High potential capacity of LED grow lights enabling farmers to produce same quality crops all year round irrespective of weather conditions   68

FIGURE 25           IMPACT ANALYSIS OF DRIVERS ON GROW LIGHTS MARKET          69

5.2.2      RESTRAINTS       69

5.2.2.1   High setup and installation costs of LED grow lights           69

5.2.2.2   Complex requirement for varied light spectrums for different crops        70

TABLE 6                STANDARD SPECTRUMS               71

FIGURE 26           IMPACT ANALYSIS OF RESTRAINTS ON GROW LIGHTS MARKET   71

5.2.3      OPPORTUNITIES               71

5.2.3.1   Legalization of cannabis in different countries    71

5.2.3.2   Automation in lighting fixtures and technological advancements in LED grow lights           72

5.2.3.3   Potential opportunities in Asian and Middle Eastern markets for vertical farming               73

5.2.3.4   Integration of hardware, software, and data analytics platform for horticulture yield estimation and energy conservation      74

FIGURE 27           IMPACT ANALYSIS OF OPPORTUNITIES ON GROW LIGHTS MARKET          74

5.2.4      CHALLENGES      75

5.2.4.1   Need for technical know-how and complexities associated with deployment of CEA technology                75

5.2.4.2   Absence of standard testing practices for accessing product quality of horticulture lights and their fixtures           75

5.2.4.3   Difficulties in integrating different components and technologies in CEA facilities              76

FIGURE 28           IMPACT ANALYSIS OF CHALLENGES ON GROW LIGHTS MARKET 76

TABLE 7                KEY TAKEAWAYS FOR SUPPLIERS/COMPONENT PROVIDERS        77

6              INDUSTRY TRENDS          78

6.1          INTRODUCTION                78

6.2          SUPPLY CHAIN ANALYSIS              78

FIGURE 29           SUPPLY CHAIN ANALYSIS: GROW LIGHTS MARKET            78

6.2.1      RESEARCH AND DEVELOPMENT 79

6.2.2      COMPONENT PROVIDERS/INPUT SUPPLIERS      79

6.2.3      ORIGINAL EQUIPMENT MANUFACTURERS           79

6.2.4      SYSTEM INTEGRATORS/TECHNOLOGY AND SERVICE PROVIDERS                79

6.2.5      DISTRIBUTORS AND SALES PARTNERS     80

6.2.5.1   Supply chain analysis of top 5 players      80

TABLE 8                SIGNIFY: LIST OF MAJOR DISTRIBUTORS AND CUSTOMERS           81

TABLE 9                HELIOSPECTRA: LIST OF MAJOR DISTRIBUTORS AND CUSTOMERS             81

TABLE 10              GAVITA: LIST OF MAJOR DISTRIBUTORS AND CUSTOMERS           81

TABLE 11              OSRAM: LIST OF MAJOR DISTRIBUTORS 83

6.2.6      END USERS         83

6.3          KEY TECHNOLOGY AND INDUSTRY TRENDS           84

TABLE 12              LEADING TRENDS IN GROW LIGHTS MARKET       84

6.4          PRICING ANALYSIS          85

TABLE 13              INDICATIVE PRICES OF GROW LIGHT FIXTURES   85

6.5          LIST OF KEY PATENTS AND INNOVATIONS IN GROW  LIGHTS MARKET     86

TABLE 14              PATENTS REGISTERED: GROW LIGHTS MARKET  86

6.6          TARIFF AND REGULATORY LANDSCAPE  88

TABLE 15              TARIFF REGULATIONS: GROW LIGHTS    88

6.6.1      TARIFF-RELATED DATA: LIGHTING PRODUCTS     89

6.7          CASE STUDIES    89

6.7.1      INTRODUCTION                89

6.7.2      GLENWOOD VALLEY FARMS        90

TABLE 16              GLENWOOD VALLEY FARMS (CANADA) USED PHILIPS GREENPOWER LED INTERLIGHTING MODULE TO IMPROVE ITS YIELDS       90

6.7.3      LJUSGÅRDA        90

TABLE 17              LJUSGÅRDA ACHIEVED ULTIMATE VERTICAL GROWTH FROM 0 TO 7,000 SQ. M. USING LED LIGHTING SOLUTION AND CONTROL SYSTEM OF HELIOSPECTRA     90

6.7.4      BEIJING VEGETABLE RESEARCH CENTER 91

TABLE 18              SIGNIFY HOLDING (NETHERLANDS) PROVIDED PHILIPS GREENPOWER LED TOPLIGHTING TO GROW VEGETABLE SEEDLINGS UNDER ARTIFICIAL LIGHTS TO BVRC (CHINA)       91

6.7.5      KERNOCK PARK PLANTS                91

TABLE 19              KERNOCK PARK PLANTS INSTALLED PHILIPS GREENPOWER LED TOPLIGHTING AND PRODUCTION MODULE FROM SIGNIFY HOLDING (NETHERLANDS)            91

6.7.6      GREEN SIMPLICITY          92

TABLE 20              GREEN SIMPLICITY DEVELOPED SPECIAL RESEARCH GROWING SYSTEMS WITH HELP OF HORTILUX             92

6.7.7      NS BRANDS        92

TABLE 21              HELIOSPECTRA AB (SWEDEN) HELPED NS BRANDS (US) WITH GREENHOUSE  TOMATO TRIALS      92

6.7.8      SANOID ISOLATES            93

TABLE 22              HELIOSPECTRA AB (SWEDEN) HELPED SANOID ISOLATES (SPAIN) TO PRODUCE CANNABIS EXTRACTIONS WITH HIGHEST LEVELS OF QUALITY, TRACEABILITY, AND CONSISTENCY   93

6.8          TECHNOLOGY ANALYSIS: HID (HPS) VS. LED         93

TABLE 23              FACTORS LEADING TO RELUCTANCE FOR ADOPTION OF LED LIGHTS         93

FIGURE 30           VIEWS OF INDUSTRY EXPERTS PERTAINING TO INCREASING ADOPTION OF LED-BASED GROW LIGHTS     94

6.8.1      HID (HPS) VS. LED PRICING ANALYSIS     95

TABLE 24              CAPEX AND OPEX FOR LED AND HPS (INDICATIVE) TECHNOLOGIES           95

FIGURE 31           MARKET SIZING TREND: MAJOR TECHNOLOGIES USED IN GROW LIGHTS, 2017–2026 (USD MILLION)        95

FIGURE 32           GROW LIGHT TECHNOLOGY TREND: MARKET SHARE ANALYSIS OF MAJOR HORTICULTURE LIGHTING TECHNOLOGIES, 2017–2026         96

6.9          TRADE ANALYSIS              96

6.9.1      EXPORT SCENARIO OF LAMPS AND LIGHTING FITTINGS 96

TABLE 25              EXPORT DATA FOR LAMPS AND LIGHTING FITTINGS,

2015–2019 (USD MILLION)           96

6.9.2      IMPORT SCENARIO OF LAMPS AND LIGHTING FITTINGS                97

TABLE 26              IMPORT DATA FOR LAMPS AND LIGHTING FITTINGS,

 2015–2019 (USD MILLION)          97

6.9.3      IMPACT OF COVID-19 ON GROW LIGHTS MARKET            97

6.10        GROW LIGHTS MARKET ECOSYSTEM       98

7              GROW LIGHTS MARKET, BY OFFERING   99

7.1          INTRODUCTION                100

FIGURE 33           GROW LIGHTS MARKET, BY OFFERING   100

FIGURE 34           SOFTWARE & SERVICES SEGMENT TO EXHIBIT HIGHER GROWTH RATE IN GROW LIGHTS MARKET DURING FORECAST PERIOD           100

TABLE 27              GROW LIGHTS MARKET, BY OFFERING, 2017–2020 (USD MILLION)            100

TABLE 28              GROW LIGHTS MARKET, BY OFFERING, 2021–2026 (USD MILLION)            101

7.2          HARDWARE        101

7.2.1      BULBS AND FIXTURES, METAL REFLECTORS, REFLECTIVE FILMS, AND BALLASTS ARE KEY HARDWARE COMPONENTS OF GROW LIGHTS            101

TABLE 29              GROW LIGHTS MARKET FOR HARDWARE, BY LIGHTING TYPE,

2017–2020 (USD MILLION)           102

TABLE 30              GROW LIGHTS MARKET FOR HARDWARE, BY LIGHTING TYPE,

 2021–2026 (USD MILLION)          102

TABLE 31              GROW LIGHTS MARKET FOR HARDWARE, BY INSTALLATION TYPE,

 2017–2020 (USD MILLION)          102

TABLE 32              GROW LIGHTS MARKET FOR HARDWARE, BY INSTALLATION TYPE,

 2021–2026 (USD MILLION)          102

TABLE 33              GROW LIGHTS MARKET FOR HARDWARE, BY APPLICATION,

2017–2020 (USD MILLION)           103

FIGURE 35           VERTICAL FARMS TO DOMINATE GROW LIGHTS MARKET FOR HARDWARE DURING FORECAST PERIOD   103

TABLE 34              GROW LIGHTS MARKET FOR HARDWARE, BY APPLICATION,

 2021–2026 (USD MILLION)          103

TABLE 35              GROW LIGHTS MARKET FOR HARDWARE, BY REGION,

2017–2020 (USD MILLION)           104

TABLE 36              GROW LIGHTS MARKET FOR HARDWARE, BY REGION,

2021–2026 (USD MILLION)           104

7.3          SOFTWARE & SERVICES 104

7.3.1      SOFTWARE & SERVICES SEGMENT TO WITNESS HIGHER GROWTH RATE IN GROW LIGHTS MARKET DURING 2021–2026       104

TABLE 37              GROW LIGHTS MARKET FOR SOFTWARE & SERVICES, BY APPLICATION,  2017–2020 (USD MILLION)           105

TABLE 38              GROW LIGHTS MARKET FOR SOFTWARE & SERVICES, BY APPLICATION,  2021–2026 (USD MILLION)           106

TABLE 39              GROW LIGHTS MARKET FOR SOFTWARE & SERVICES, BY REGION,

  2017–2020 (USD MILLION)         106

FIGURE 36           APAC TO RECORD HIGHEST GROWTH RATE IN GROW LIGHTS MARKET FOR SOFTWARE & SERVICES SEGMENT DURING FORECAST PERIOD   106

TABLE 40              GROW LIGHTS MARKET FOR SOFTWARE & SERVICES, BY REGION,

 2021–2026 (USD MILLION)          107

8              GROW LIGHTS MARKET, BY LIGHTING TYPE          108

8.1          INTRODUCTION                109

FIGURE 37           GROW LIGHTS MARKET, BY LIGHTING TYPE          109

FIGURE 38           TOPLIGHTING SEGMENT TO HOLD LARGER SIZE OF GROW LIGHTS MARKET IN 2026          109

TABLE 41              GROW LIGHTS MARKET, BY LIGHTING TYPE, 2017–2020 (USD MILLION)  109

TABLE 42              GROW LIGHTS MARKET, BY LIGHTING TYPE, 2021–2026 (USD MILLION)  110

8.2          TOPLIGHTING    110

8.2.1      TOPLIGHTING—WIDELY USED LIGHTING TYPE IN INDOOR FARMING       110

TABLE 43              GROW LIGHTS MARKET FOR TOPLIGHTING, BY APPLICATION,

2017–2020 (USD MILLION)           111

FIGURE 39           GREENHOUSES TO HOLD LARGEST SIZE OF TOPLIGHTING GROW LIGHTS MARKET FROM 2021 TO 2026     111

TABLE 44              GROW LIGHTS MARKET FOR TOPLIGHTING, BY APPLICATION,

2021–2026 (USD MILLION)           111

TABLE 45              GROW LIGHTS MARKET FOR TOPLIGHTING, BY CULTIVATED PLANT, 

2017–2020 (USD MILLION)           112

TABLE 46              GROW LIGHTS MARKET FOR TOPLIGHTING, BY CULTIVATED PLANT, 

2021–2026 (USD MILLION)           112

TABLE 47              GROW LIGHTS MARKET FOR TOPLIGHTING, BY REGION,

2017–2020 (USD MILLION)           112

TABLE 48              GROW LIGHTS MARKET FOR TOPLIGHTING, BY REGION,

 2021–2026 (USD MILLION)          112

8.3          INTERLIGHTING                113

8.3.1      INTERLIGHTING SEGMENT TO REGISTER HIGHER CAGR IN GROW LIGHTS MARKET DURING FORECAST PERIOD    113

TABLE 49              GROW LIGHTS MARKET FOR INTERLIGHTING, BY APPLICATION, 

2017–2020 (USD MILLION)           113

TABLE 50              GROW LIGHTS MARKET FOR INTERLIGHTING, BY APPLICATION,

 2021–2026 (USD MILLION)          114

TABLE 51              GROW LIGHTS MARKET FOR INTERLIGHTING, BY CULTIVATED PLANT,

 2017–2020 (USD MILLION)          114

FIGURE 40           FRUITS & VEGETABLES TO CAPTURE LARGEST SIZE OF INTERLIGHTING GROW LIGHTS MARKET FROM 2021 TO 2026                114

TABLE 52              GROW LIGHTS MARKET FOR INTERLIGHTING, BY CULTIVATED PLANT,

 2021–2026 (USD MILLION)          115

TABLE 53              GROW LIGHTS MARKET FOR INTERLIGHTING, BY REGION,

2017–2020 (USD MILLION)           115

TABLE 54              GROW LIGHTS MARKET FOR INTERLIGHTING, BY REGION,

2021–2026 (USD MILLION)           115

9              GROW LIGHTS MARKET, BY INSTALLATION TYPE                116

9.1          INTRODUCTION                117

FIGURE 41           GROW LIGHTS MARKET, BY INSTALLATION TYPE                117

FIGURE 42           RETROFIT INSTALLATIONS TO EXHIBIT HIGHER CAGR IN GROW LIGHTS MARKET DURING FORECAST PERIOD                117

TABLE 55              GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2017–2020 (USD MILLION)         118

TABLE 56              GROW LIGHTS MARKET, BY INSTALLATION TYPE, 2021–2026 (USD MILLION)         118

9.2          NEW INSTALLATIONS     118

9.2.1      RISING ADOPTION OF VERTICAL FARMING TECHNOLOGY BOOSTS NEW INSTALLATIONS OF GROW LIGHTS           118

TABLE 57              GROW LIGHTS MARKET FOR NEW INSTALLATIONS, BY REGION, 

2017–2020 (USD MILLION)           119

FIGURE 43           APAC TO REGISTER HIGHEST CAGR IN GROW LIGHTS MARKET FOR NEW INSTALLATIONS DURING FORECAST PERIOD 119

TABLE 58              GROW LIGHTS MARKET FOR NEW INSTALLATIONS, BY REGION, 

2021–2026 (USD MILLION)           120

9.3          RETROFIT INSTALLATIONS            120

9.3.1      RETROFITTING INSTALLATION OF GROW LIGHTS HELPS SAVE ENERGY, IMPROVE PLANT QUALITY, AND REDUCE MAINTENANCE COST     120

TABLE 59              GROW LIGHTS MARKET FOR RETROFIT INSTALLATIONS, BY REGION,

  2017–2020 (USD MILLION)         121

FIGURE 44           EUROPE TO ACCOUNT FOR LARGEST SIZE OF GROW LIGHTS MARKET FOR RETROFIT INSTALLATIONS DURING FORECAST PERIOD         121

TABLE 60              GROW LIGHTS MARKET FOR RETROFIT INSTALLATIONS, BY REGION, 

2021–2026 (USD MILLION)           121

10           GROW LIGHTS MARKET, BY WATT            122

10.1        INTRODUCTION                123

FIGURE 45           GROW LIGHTS MARKET, BY WATT            123

FIGURE 46           >300-WATT GROW LIGHTS TO DOMINATE MARKET DURING FORECAST PERIOD 123

TABLE 61              GROW LIGHTS MARKET, BY WATT, 2017–2020 (USD MILLION)     123

TABLE 62              GROW LIGHTS MARKET, BY WATT, 2021–2026 (USD MILLION)     124

10.2        <300 WATTS       124

10.2.1    <300-WATT GROW LIGHTS ARE PRIMARILY USED FOR CANNABIS PRODUCTION 124

TABLE 63              <300-WATT GROW LIGHTS MARKET, BY APPLICATION,

2017–2020 (USD MILLION)           124

TABLE 64              <300-WATT GROW LIGHTS MARKET, BY APPLICATION,

 2021–2026 (USD MILLION)          125

10.3        >300 WATTS       125

10.3.1    >300-WATT GROW LIGHTS ARE SUITABLE FOR VEGETABLE AND FLOWER PRODUCTION  125

TABLE 65              >300-WATT GROW LIGHTS MARKET, BY APPLICATION,

2017–2020 (USD MILLION)           125

TABLE 66              >300-WATT GROW LIGHTS MARKET, BY APPLICATION,

2021–2026 (USD MILLION)           125

11           GROW LIGHTS MARKET, BY APPLICATION             126

11.1        INTRODUCTION                127

FIGURE 47           GROW LIGHTS MARKET, BY APPLICATION             127

FIGURE 48           VERTICAL FARMS TO REGISTER HIGHEST CAGR IN GROW LIGHTS MARKET DURING FORECAST PERIOD    127

TABLE 67              GROW LIGHTS MARKET, BY APPLICATION, 2017–2020 (USD MILLION)     128

TABLE 68              GROW LIGHTS MARKET, BY APPLICATION, 2021–2026 (USD MILLION)     128

11.2        GREENHOUSES 128

11.2.1    HIGHER YIELDS CAN BE ACHIEVED USING GROW LIGHTS IN GREENHOUSES          128

TABLE 69              GROW LIGHTS MARKET FOR GREENHOUSES, BY OFFERING,

2017–2020 (USD MILLION)           129

TABLE 70              GROW LIGHTS MARKET FOR GREENHOUSES, BY OFFERING,

 2021–2026 (USD MILLION)          129

TABLE 71              GROW LIGHTS MARKET FOR GREENHOUSES, BY WATT,

2017–2020 (USD MILLION)           130

TABLE 72              GROW LIGHTS MARKET FOR GREENHOUSES, BY WATT,

2021–2026 (USD MILLION)           130

TABLE 73              GROW LIGHTS MARKET FOR GREENHOUSES, BY REGION,

2017–2020 (USD MILLION)           130

FIGURE 49           APAC TO EXHIBIT HIGHEST CAGR IN GROW LIGHTS MARKET FOR GREENHOUSES DURING FORECAST PERIOD                130

TABLE 74              GROW LIGHTS MARKET FOR GREENHOUSES, BY REGION,

2021–2026 (USD MILLION)           131

TABLE 75              GROW LIGHTS MARKET FOR GREENHOUSES, BY LIGHTING TYPE, 

2017–2020 (USD MILLION)           131

TABLE 76              GROW LIGHTS MARKET FOR GREENHOUSES, BY LIGHTING TYPE,

2021–2026 (USD MILLION)           131

11.3        VERTICAL FARMS             131

11.3.1    OPTIMUM USE OF VERTICAL SPACE AND BALANCED ENERGY UTILIZATION CREATE DEMAND FOR GROW LIGHTS IN VERTICAL FARMING       131

11.3.2    REGION-WISE RECENT DEVELOPMENTS IN VERTICAL FARMING MARKET               132

TABLE 77              VERTICAL FARM DEVELOPMENTS IN NORTH AMERICA   132

TABLE 78              VERTICAL FARM DEVELOPMENTS IN EUROPE      134

TABLE 79              VERTICAL FARM DEVELOPMENTS IN APAC           135

TABLE 80              VERTICAL FARM DEVELOPMENTS IN MIDDLE EAST           136

TABLE 81              GROW LIGHTS MARKET FOR VERTICAL FARMS, BY OFFERING, 

2017–2020 (USD MILLION)           136

TABLE 82              GROW LIGHTS MARKET FOR VERTICAL FARMS, BY OFFERING, 

2021–2026 (USD MILLION)           136

TABLE 83              GROW LIGHTS MARKET FOR VERTICAL FARMS, BY WATT,

2017–2020 (USD MILLION)           137

TABLE 84              GROW LIGHTS MARKET FOR VERTICAL FARMS, BY WATT,

2021–2026 (USD MILLION)           137

TABLE 85              GROW LIGHTS MARKET FOR VERTICAL FARMS, BY REGION,

  2017–2020 (USD MILLION)         137

FIGURE 50           APAC TO REGISTER HIGHEST CAGR IN GROW LIGHTS MARKET FOR VERTICAL FARMS DURING FORECAST PERIOD 138

TABLE 86              GROW LIGHTS MARKET FOR VERTICAL FARMS, BY REGION,

2021–2026 (USD MILLION)           138

TABLE 87              GROW LIGHTS MARKET FOR VERTICAL FARMS, BY LIGHTING TYPE,

 2017–2020 (USD MILLION)          138

TABLE 88              GROW LIGHTS MARKET FOR VERTICAL FARMS, BY LIGHTING TYPE,

 2021–2026 (USD MILLION)          139

11.4        INDOOR FARMS               139

11.4.1    INCREASED REQUIREMENT FOR FOOD ACCELERATES DEMAND FOR GROW LIGHTS IN INDOOR FARMING              139

TABLE 89              GROW LIGHTS MARKET FOR INDOOR FARMS, BY OFFERING,

2017–2020 (USD MILLION)           139

TABLE 90              GROW LIGHTS MARKET FOR INDOOR FARMS, BY OFFERING,

2021–2026 (USD MILLION)           140

TABLE 91              GROW LIGHTS MARKET FOR INDOOR FARMS, BY WATT,

 2017–2020 (USD MILLION)          140

TABLE 92              GROW LIGHTS MARKET FOR INDOOR FARMS, BY WATT,

2021–2026 (USD MILLION)           140

TABLE 93              GROW LIGHTS MARKET FOR INDOOR FARMS, BY REGION,

2017–2020 (USD MILLION)           140

TABLE 94              GROW LIGHTS MARKET FOR INDOOR FARMS, BY REGION,

 2021–2026 (USD MILLION)          141

TABLE 95              GROW LIGHTS MARKET FOR INDOOR FARMS, BY LIGHTING TYPE,

 2017–2020 (USD MILLION)          141

FIGURE 51           TOPLIGHTING SEGMENT TO ACCOUNT FOR LARGER SIZE OF GROW LIGHTS MARKET FOR INDOOR FARMING IN 2026 141

TABLE 96              GROW LIGHTS MARKET FOR INDOOR FARMING, BY LIGHTING TYPE,

 2021–2026 (USD MILLION)          142

11.5        RESEARCH & TISSUE CULTURE LABORATORIES    142

11.5.1    LARGE NUMBER OF RESEARCH PROJECTS IN PLANT LABORATORIES AND  AGRICULTURE UNIVERSITIES FOSTER MARKET GROWTH           142

TABLE 97              GROW LIGHTS MARKET FOR RESEARCH & TISSUE CULTURE LABORATORIES ,  BY OFFERING, 2017–2020 (USD MILLION)             143

TABLE 98              GROW LIGHTS MARKET FOR RESEARCH & TISSUE CULTURE LABORATORIES,  BY OFFERING, 2021–2026 (USD MILLION)             143

TABLE 99              GROW LIGHTS MARKET FOR RESEARCH & TISSUE CULTURE LABORATORIES, BY WATT, 2017–2020 (USD MILLION)             143

TABLE 100            GROW LIGHTS MARKET FOR RESEARCH & TISSUE CULTURE LABORATORIES, BY WATT, 2021–2026 (USD MILLION)             143

TABLE 101            GROW LIGHTS MARKET FOR RESEARCH & TISSUE CULTURE LABORATORIES, BY REGION,  2017–2020 (USD MILLION)             144

TABLE 102            GROW LIGHTS MARKET FOR RESEARCH & TISSUE CULTURE LABORATORIES, BY REGION,  2021–2026 (USD MILLION)             144

TABLE 103            GROW LIGHTS MARKET FOR RESEARCH & TISSUE CULTURE LABORATORIES,  BY LIGHTING TYPE, 2017–2020 (USD MILLION) 144

TABLE 104            GROW LIGHTS MARKET FOR RESEARCH & TISSUE CULTURE LABORATORIES,  BY LIGHTING TYPE, 2021–2026 (USD MILLION) 145

12           GROW LIGHTS MARKET, BY CULTIVATED PLANT 146

12.1        INTRODUCTION                147

FIGURE 52           GROW LIGHTS MARKET, BY CULTIVATED PLANT 147

FIGURE 53           FRUITS & VEGETABLES SEGMENT TO ACCOUNT FOR LARGEST SIZE OF GROW LIGHTS MARKET FROM 2021 TO 2026                147

TABLE 105            GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2017–2020 (USD MILLION)         147

TABLE 106            GROW LIGHTS MARKET, BY CULTIVATED PLANT, 2021–2026 (USD MILLION)         148

12.2        FRUITS & VEGETABLES   148

12.2.1    INCREASED DEMAND FOR HIGH-QUALITY ORGANIC FRUITS AND VEGETABLES PROMOTE ADOPTION OF GROW LIGHTS IN VERTICAL FARMS AND GREENHOUSES              148

TABLE 107            GROW LIGHTS MARKET FOR FRUITS & VEGETABLES, BY REGION, 

2017–2020 (USD MILLION)           151

TABLE 108            GROW LIGHTS MARKET FOR FRUITS & VEGETABLES, BY REGION, 

2021–2026 (USD MILLION)           151

12.3        FLOWERS             152

12.3.1    EUROPE TO CAPTURE SIGNIFICANT SIZE OF GROW LIGHTS MARKET FOR FLOWERS IN COMING YEARS    152

FIGURE 54           EUROPE TO HOLD LARGEST SIZE OF GROW LIGHTS MARKET FOR  FLOWERS IN 2026          153

TABLE 109            GROW LIGHTS MARKET FOR FLOWERS, BY REGION,

 2017–2020 (USD MILLION)          153

TABLE 110            GROW LIGHTS MARKET FOR FLOWERS, BY REGION,

 2021–2026 (USD MILLION)          153

12.4        CANNABIS          154

12.4.1    CANNABIS SEGMENT OF GROW LIGHTS MARKET TO EXHIBIT HIGHEST CAGR FROM 2021 TO 2026              154

TABLE 111            GROW LIGHTS MARKET FOR CANNABIS, BY REGION,

 2017–2020 (USD MILLION)          155

TABLE 112            GROW LIGHTS MARKET FOR CANNABIS, BY REGION,

2021–2026 (USD MILLION)           155

13           GROW LIGHTS MARKET, BY SPECTRUM  156

13.1        INTRODUCTION                157

FIGURE 55           FULL-SPECTRUM LED GROW LIGHTS MARKET TO EXHIBIT HIGHER CAGR DURING FORECAST PERIOD        157

TABLE 113            GROW LIGHTS MARKET, BY SPECTRUM, 2017–2020 (USD MILLION)          157

TABLE 114            GROW LIGHTS MARKET, BY SPECTRUM, 2021–2026 (USD MILLION)          158

13.2        FULL SPECTRUM               158

13.2.1    FULL-SPECTRUM LIGHT SOURCE GAINING POPULARITY AS IT IMPROVES PLANT GROWTH BY EMITTING LIGHT ACCORDING TO ITS CHANGING REQUIREMENTS               158

TABLE 115            GROW LIGHTS MARKET FOR FULL SPECTRUM, BY OFFERING,

2017–2020 (USD MILLION)           158

TABLE 116            GROW LIGHTS MARKET FOR FULL SPECTRUM, BY OFFERING,

2021–2026 (USD MILLION)           159

TABLE 117            GROW LIGHTS MARKET FOR FULL SPECTRUM, BY REGION,

2017–2020 (USD MILLION)           159

FIGURE 56           APAC TO EXHIBIT HIGHER CAGR IN FULL-SPECTRUM GROW LIGHTS MARKET DURING FORECAST PERIOD                159

TABLE 118            GROW LIGHTS MARKET FOR FULL SPECTRUM, BY REGION,

2021–2026 (USD MILLION)           160

13.3        LIMITED SPECTRUM        160

13.3.1    LIMITED-SPECTRUM LEDS GROW LIGHTS COMMONLY AVAILABLE IN DEEP BLUE (450 NM), HYPER RED (660 NM), FAR-RED (730 NM), AND GREEN

(530 NM) COLORS            160

TABLE 119            GROW LIGHTS MARKET FOR LIMITED SPECTRUM, BY OFFERING,

 2017–2020 (USD MILLION)          160

TABLE 120            GROW LIGHTS MARKET FOR LIMITED SPECTRUM, BY OFFERING,

  2021–2026 (USD MILLION)         161

TABLE 121            GROW LIGHTS MARKET FOR LIMITED SPECTRUM, BY REGION, 

2017–2020 (USD MILLION)           161

FIGURE 57           EUROPE TO HOLD LARGEST SIZE OF LIMITED-SPECTRUM LED GROW LIGHTS MARKET DURING FORECAST PERIOD 161

TABLE 122            GROW LIGHTS MARKET FOR LIMITED SPECTRUM, BY REGION,

 2021–2026 (USD MILLION)          162

14           GROW LIGHTS MARKET, BY SALES CHANNEL        163

14.1        INTRODUCTION                164

FIGURE 58           E-COMMERCE SALES CHANNELS TO EXHIBIT HIGHER CAGR THAN DISTRIBUTION CHANNELS IN GROW LIGHTS MARKET DURING FORECAST PERIOD       164

TABLE 123            GROW LIGHTS MARKET, BY SALES CHANNEL, 2017–2020 (USD MILLION)                164

TABLE 124            GROW LIGHTS MARKET, BY SALES CHANNEL, 2021–2026 (USD MILLION)                165

14.2        DISTRIBUTION CHANNELS            165

14.2.1    DISTRIBUTION CHANNELS TO LEAD GROW LIGHTS MARKET DURING

2021–2026           165

TABLE 125            GROW LIGHTS MARKET FOR DISTRIBUTION CHANNELS, BY REGION,

 2017–2020 (USD MILLION)          166

TABLE 126            GROW LIGHTS MARKET FOR DISTRIBUTION CHANNELS, BY REGION,

 2021–2026 (USD MILLION)          166

14.3        E-COMMERCE CHANNELS            166

14.3.1    THIRD-PARTY E-COMMERCE PLATFORMS ARE PREFERRED BY SMALL GROWERS/HOME-BASED GROWERS              166

TABLE 127            GROW LIGHTS MARKET FOR E-COMMERCE CHANNELS, BY REGION, 

2017–2020 (USD MILLION)           167

FIGURE 59           APAC TO RECORD HIGHEST CAGR IN GROW LIGHTS MARKET FOR E-COMMERCE CHANNELS DURING FORECAST PERIOD           167

TABLE 128            GROW LIGHTS MARKET FOR E-COMMERCE CHANNELS, BY REGION, 

2021–2026 (USD MILLION)           167

14.4        DIRECT SALES CHANNELS              168

14.4.1    DIRECT SALES MODE WITNESSED NEGATIVE IMPACT DURING COVID-19 PERIOD OWING TO GROWERS’ INTEREST IN BUYING GROW LIGHTS THROUGH ONLINE MODE             168

TABLE 129            GROW LIGHTS MARKET FOR DIRECT SALES CHANNELS, BY REGION,

  2017–2020 (USD MILLION)         168

TABLE 130            GROW LIGHTS MARKET FOR DIRECT SALES CHANNELS, BY REGION,

  2021–2026 (USD MILLION)         168

14.5        IMPACT OF GROWING ONLINE MARKET ON DISTRIBUTION AND DIRECT SALES CHANNELS            169

14.6        DISTRIBUTION CHANNELS DOMINATE OVERALL GROW LIGHTS MARKET                169

15           GEOGRAPHIC ANALYSIS                170

15.1        INTRODUCTION                171

FIGURE 60           GROW LIGHTS MARKET, BY REGION        171

TABLE 131            GROW LIGHTS MARKET, BY REGION, 2017–2020 (USD MILLION) 171

TABLE 132            GROW LIGHTS MARKET, BY REGION, 2021–2026 (USD MILLION) 171

TABLE 133            GROW LIGHTS MARKET, BY REGION, 2017–2020 (THOUSAND UNITS)       172

TABLE 134            GROW LIGHTS MARKET, BY REGION, 2021–2026 (THOUSAND UNITS)       172

15.2        NORTH AMERICA             173

FIGURE 61           GROW LIGHTS MARKET IN NORTH AMERICA, BY COUNTRY           173

FIGURE 62           SNAPSHOT: GROW LIGHTS MARKET IN NORTH AMERICA, 2020   174

TABLE 135            GROW LIGHTS MARKET IN NORTH AMERICA, BY COUNTRY,

2017–2020 (USD MILLION)           174

TABLE 136            GROW LIGHTS MARKET IN NORTH AMERICA, BY COUNTRY,

2021–2026 (USD MILLION)           175

TABLE 137            GROW LIGHTS MARKET IN NORTH AMERICA, BY OFFERING,

2017–2020 (USD MILLION)           175

TABLE 138            GROW LIGHTS MARKET IN NORTH AMERICA, BY OFFERING,

2021–2026 (USD MILLION)           175

TABLE 139            GROW LIGHTS MARKET IN NORTH AMERICA, BY APPLICATION, 

2017–2020 (USD MILLION)           175

TABLE 140            GROW LIGHTS MARKET IN NORTH AMERICA, BY APPLICATION, 

2021–2026 (USD MILLION)           176

TABLE 141            GROW LIGHTS MARKET IN NORTH AMERICA, BY CULTIVATED PLANT,

 2017–2020 (USD MILLION)          176

TABLE 142            GROW LIGHTS MARKET IN NORTH AMERICA, BY CULTIVATED PLANT,

 2021–2026 (USD MILLION)          176

TABLE 143            GROW LIGHTS MARKET IN NORTH AMERICA, BY SALES CHANNEL,

  2017–2020 (USD MILLION)         177

TABLE 144            GROW LIGHTS MARKET IN NORTH AMERICA, BY SALES CHANNEL, 

2021–2026 (USD MILLION)           177

TABLE 145            GROW LIGHTS MARKET IN NORTH AMERICA, BY SPECTRUM TYPE,

 2017–2020 (USD MILLION)          177

TABLE 146            GROW LIGHTS MARKET IN NORTH AMERICA, BY SPECTRUM TYPE, 

2021–2026 (USD MILLION)           177

TABLE 147            GROW LIGHTS MARKET IN NORTH AMERICA, BY INSTALLATION TYPE,

 2017–2020 (USD MILLION)          178

TABLE 148            GROW LIGHTS MARKET IN NORTH AMERICA, BY INSTALLATION TYPE,

 2021–2026 (USD MILLION)          178

TABLE 149            GROW LIGHTS MARKET IN NORTH AMERICA, BY LIGHTING TYPE, 

2017–2020 (USD MILLION)           178

TABLE 150            GROW LIGHTS MARKET IN NORTH AMERICA, BY LIGHTING TYPE, 

2021–2026 (USD MILLION)           179

15.2.1    US          179

15.2.1.1                Prominent presence of various grow light system manufacturers fosters market growth in US    179

15.2.2    CANADA              180

15.2.2.1                Odd climatic conditions, along with legalization of cannabis cultivation, have induced greater demand for grow lights in Canada     180

15.2.3    MEXICO               180

15.2.3.1                Extensive use of grow lights in tomato cultivation to accelerate their demand in Mexico                180

15.3        EUROPE               181

FIGURE 63           GROW LIGHTS MARKET IN EUROPE         181

FIGURE 64           SNAPSHOT OF GROW LIGHTS MARKET IN EUROPE, 2020                182

TABLE 151            GROW LIGHTS MARKET IN EUROPE, BY COUNTRY,

2017–2020 (USD MILLION)           182

TABLE 152            GROW LIGHTS MARKET IN EUROPE, BY COUNTRY,

2021–2026 (USD MILLION)           183

TABLE 153            GROW LIGHTS MARKET IN EUROPE, BY OFFERING,

2017–2020 (USD MILLION)           183

TABLE 154            GROW LIGHTS MARKET IN EUROPE, BY OFFERING,

2021–2026 (USD MILLION)           183

TABLE 155            GROW LIGHTS MARKET IN EUROPE, BY APPLICATION,

2017–2020 (USD MILLION)           184

TABLE 156            GROW LIGHTS MARKET IN EUROPE, BY APPLICATION,

 2021–2026 (USD MILLION)          184

TABLE 157            GROW LIGHTS MARKET IN EUROPE, BY CULTIVATED PLANT,

 2017–2020 (USD MILLION)          184

TABLE 158            GROW LIGHTS MARKET IN EUROPE, BY CULTIVATED PLANT,

2021–2026 (USD MILLION)           184

TABLE 159            GROW LIGHTS MARKET IN EUROPE, BY SALES CHANNEL,

2017–2020 (USD MILLION)           185

TABLE 160            GROW LIGHTS MARKET IN EUROPE, BY SALES CHANNEL,

 2021–2026 (USD MILLION)          185

TABLE 161            GROW LIGHTS MARKET IN EUROPE, BY SPECTRUM,

2017–2020 (USD MILLION)           185

TABLE 162            GROW LIGHTS MARKET IN EUROPE, BY SPECTRUM,

2021–2026 (USD MILLION)           185

TABLE 163            GROW LIGHTS MARKET IN EUROPE, BY INSTALLATION TYPE,

2017–2020 (USD MILLION)           186

TABLE 164            GROW LIGHTS MARKET IN EUROPE, BY INSTALLATION TYPE,

2021–2026 (USD MILLION)           186

TABLE 165            GROW LIGHTS MARKET IN EUROPE, BY LIGHTING TYPE,

2017–2020 (USD MILLION)           186

TABLE 166            GROW LIGHTS MARKET IN EUROPE, BY LIGHTING TYPE,

2021–2026 (USD MILLION)           186

15.3.1    UK          187

15.3.1.1                Large-scale indoor farming and vertical farming practices in UK to boost demand for grow lights 187

15.3.2    GERMANY           187

15.3.2.1                High adoption of grow lights in commercial greenhouses to fuel requirement for grow lights       187

15.3.3    NETHERLANDS  188

15.3.3.1                Robust agriculture industry and significant presence of key market players to augment growth of grow lights market in Netherlands       188

15.3.4    SCANDINAVIA   188

15.3.4.1                Rapid adoption of grow lights in indoor farming and greenhouse applications to stimulate market growth in Scandinavian countries  188

15.3.5    REST OF EUROPE              189

15.4        APAC     190

FIGURE 65           GROW LIGHTS MARKET IN APAC               190

FIGURE 66           SNAPSHOT OF GROW LIGHTS MARKET IN APAC, 2020     191

TABLE 167            GROW LIGHTS MARKET IN APAC, BY GEOGRAPHY,

2017–2020 (USD MILLION)           191

TABLE 168            GROW LIGHTS MARKET IN APAC, BY GEOGRAPHY,

2021–2026 (USD MILLION)           192

TABLE 169            GROW LIGHTS MARKET IN APAC, BY OFFERING, 2017–2020 (USD MILLION)          192

TABLE 170            GROW LIGHTS MARKET IN APAC, BY OFFERING, 2021–2026 (USD MILLION)          192

TABLE 171            GROW LIGHTS MARKET IN APAC, BY APPLICATION,

 2017–2020 (USD MILLION)          193

TABLE 172            GROW LIGHTS MARKET IN APAC, BY APPLICATION,

2021–2026 (USD MILLION)           193

TABLE 173            GROW LIGHTS MARKET IN APAC, BY CULTIVATED PLANT,

2017–2020 (USD MILLION)           193

TABLE 174            GROW LIGHTS MARKET IN APAC, BY CULTIVATED PLANT,

 2021–2026 (USD MILLION)          194

TABLE 175            GROW LIGHTS MARKET IN APAC, BY SALES CHANNEL,

 2017–2020 (USD MILLION)          194

TABLE 176            GROW LIGHTS MARKET IN APAC, BY SALES CHANNEL,

2021–2026 (USD MILLION)           194

TABLE 177            GROW LIGHTS MARKET IN APAC, BY SPECTRUM, 2017–2020 (USD MILLION)        194

TABLE 178            GROW LIGHTS MARKET IN APAC, BY SPECTRUM, 2021–2026 (USD MILLION)        195

TABLE 179            GROW LIGHTS MARKET IN APAC, BY INSTALLATION TYPE,

 2017–2020 (USD MILLION)          195

TABLE 180            GROW LIGHTS MARKET IN APAC, BY INSTALLATION TYPE,

 2021–2026 (USD MILLION)          195

TABLE 181            GROW LIGHTS MARKET IN APAC, BY LIGHTING TYPE,

2017–2020 (USD MILLION)           195

TABLE 182            GROW LIGHTS MARKET IN APAC, BY LIGHTING TYPE,

2021–2026 (USD MILLION)           196

15.4.1    CHINA   196

15.4.1.1                Robust presence of leading LED manufacturers to promote grow lights market growth in China  196

15.4.2    JAPAN  197

15.4.2.1                Considerable shortage of arable land in Japan to induce demand for grow lights                197

15.4.3    SOUTHEAST ASIA             198

15.4.3.1                High demand for fresh horticulture produce and strong support of Southeast Asian governments to fuel market growth  198

15.4.4    AUSTRALIA         198

15.4.4.1                Limited rainfall, along with legalization of cannabis, to fuel adoption of grow lights for indoor farming in Australia              198

15.4.5    REST OF APAC   199

15.5        REST OF THE WORLD       199

FIGURE 67           GROW LIGHTS MARKET IN ROW                200

TABLE 183            GROW LIGHTS MARKET IN ROW, BY REGION, 2017–2020 (USD MILLION)                200

TABLE 184            GROW LIGHTS MARKET IN ROW, BY REGION, 2021–2026 (USD MILLION)                200

TABLE 185            GROW LIGHTS MARKET IN ROW, BY OFFERING, 2017–2020 (USD MILLION)           200

TABLE 186            GROW LIGHTS MARKET IN ROW, BY OFFERING, 2021–2026 (USD MILLION)           201

TABLE 187            GROW LIGHTS MARKET IN ROW, BY APPLICATION,

2017–2020 (USD MILLION)           201

TABLE 188            GROW LIGHTS MARKET IN ROW, BY APPLICATION,

2021–2026 (USD MILLION)           201

TABLE 189            GROW LIGHTS MARKET IN ROW, BY CULTIVATED PLANT,

2017–2020 (USD MILLION)           201

TABLE 190            GROW LIGHTS MARKET IN ROW, BY CULTIVATED PLANT,

2021–2026 (USD MILLION)           202

TABLE 191            GROW LIGHTS MARKET IN ROW, BY SALES CHANNEL,

2017–2020 (USD MILLION)           202

TABLE 192            GROW LIGHTS MARKET IN ROW, BY SALES CHANNEL,

 2021–2026 (USD MILLION)          202

TABLE 193            GROW LIGHTS MARKET IN ROW, BY SPECTRUM, 2017–2020 (USD MILLION)         202

TABLE 194            GROW LIGHTS MARKET IN ROW, BY SPECTRUM, 2021–2026 (USD MILLION)         203

TABLE 195            GROW LIGHTS MARKET IN ROW, BY INSTALLATION TYPE,

2017–2020 (USD MILLION)           203

TABLE 196            GROW LIGHTS MARKET IN ROW, BY INSTALLATION TYPE,

 2021–2026 (USD MILLION)          203

TABLE 197            GROW LIGHTS MARKET IN ROW, BY LIGHTING TYPE,

 2017–2020 (USD MILLION)          203

TABLE 198            GROW LIGHTS MARKET IN ROW, BY LIGHTING TYPE,

2021–2026 (USD MILLION)           204

15.5.1    SOUTH AMERICA             204

15.5.1.1                Vertical coffee farming in Brazil to provide lucrative opportunities for grow lights market               204

15.5.2    MIDDLE EAST     205

15.5.2.1                Resource scarcity to propel adoption of grow lights in vertical farms in Middle East           205

15.5.3    AFRICA 205

15.5.3.1                Insufficient sunlight in long monsoon season in Africa promote implementation of grow lights    205

16           COMPETITIVE LANDSCAPE           206

16.1        OVERVIEW          206

FIGURE 68           COMPANIES ADOPTED PRODUCT LAUNCHES AS KEY GROWTH STRATEGY FROM 2017 TO 2020     207

16.2        MARKET SHARE ANALYSIS            208

TABLE 199            SHARE ANALYSIS OF KEY COMPANIES IN GROW LIGHTS MARKET, 2020   208

16.3        HISTORICAL REVENUE ANALYSIS, 2015–2019       209

FIGURE 69           HISTORICAL REVENUE ANALYSIS OF TOP 3 COMPANIES OFFERING GROW LIGHTS, 2015–2019 (USD MILLION)             209

16.4        COMPANY EVALUATION QUADRANT     210

FIGURE 70           COMPANY EVALUATION MATRIX, 2020 210

16.4.1    STAR      211

16.4.2    EMERGING LEADER         211

16.4.3    PERVASIVE         211

16.4.4    PARTICIPANT     211

16.4.5    PRODUCT FOOTPRINT ANALYSIS OF TOP PLAYERS            212

FIGURE 71           PRODUCT FOOTPRINT ANALYSIS OF MAJOR PLAYERS IN GROW LIGHTS MARKET                212

16.5        STARTUP/SME EVALUATION MATRIX, 2020         213

FIGURE 72           STARTUP/SME EVALUATION MATRIX, 2020         213

16.5.1    PROGRESSIVE COMPANIES         214

16.5.2    RESPONSIVE COMPANIES            214

16.5.3    DYNAMIC COMPANIES  214

16.5.4    STARTING BLOCKS           214

16.6        MARKET EVALUATION FRAMEWORK      214

FIGURE 73           PRODUCT LAUNCHES/DEVELOPMENTS, PARTNERSHIPS, AND CONTRACTS WERE KEY STRATEGIES ADOPTED BY MARKET PLAYERS FROM 2018 TO 2020             215

16.7        COMPETITIVE SCENARIO              215

16.7.1    PRODUCT LAUNCHES AND DEVELOPMENTS        215

TABLE 200            PRODUCT LAUNCHES AND DEVELOPMENTS, 2018–2020 215

16.7.2    PARTNERSHIP, AGREEMENTS, CONTRACTS, COLLABORATIONS, AND EXPANSIONS           217

TABLE 201            PARTNERSHIP, AGREEMENTS, CONTRACTS, COLLABORATIONS, AND EXPANSIONS, 2018–2020   217

16.7.3    MERGERS AND ACQUISITIONS   220

TABLE 202            MERGERS AND ACQUISITIONS, 2018-2020            220

17           COMPANY PROFILES      221

17.1        KEY PLAYERS      221

(Business overview, Products/solutions/services offered, Recent developments, MnM view, Key strengths/right to win, Strategic choices made, and Weaknesses and competitive threats)*

17.1.1    SIGNIFY HOLDING           221

FIGURE 74           SIGNIFY HOLDING: COMPANY SNAPSHOT            222

17.1.2    GAVITA INTERNATIONAL B.V.    228

17.1.3    HELIOSPECTRA AB           231

FIGURE 75           HELIOSPECTRA AB: COMPANY SNAPSHOT            231

17.1.4    OSRAM GMBH (PART OF AMS AG)          236

FIGURE 76           OSRAM GMBH: COMPANY SNAPSHOT   236

17.1.5    CALIFORNIA LIGHTWORKS           241

17.1.6    VALOYA               243

17.1.7    LUMIGROW, INC.            246

17.1.8    HORTILUX SCHRÉDER (DOOL INDUSTRIES)            248

17.1.9    EYE HORTILUX (A DIVISION OF EYE LIGHTING INTERNATIONAL)  249

17.1.10  ILUMINAR LIGHTING      251

17.2        OTHER IMPORTANT PLAYERS      253

17.2.1    GE CURRENT, A DAINTREE COMPANY     253

17.2.2    PARSOURCE       253

17.2.3    GE LIGHTING, A SAVANT COMPANY       254

17.2.4    HUBBELL              254

17.2.5    AGROLUX            255

17.2.6    ECONOLUX         255

17.2.7    OREON 256

17.2.8    GLACIALLIGHT (LIGHTING DIVISION OF GLACIALTECH)   256

17.2.9    BLACK DOG GROW TECHNOLOGIES INC.               257

17.2.10  VIPARSPECTRA 257

17.2.11  FOXCONN           258

17.2.12  ACTIVE GROW LLC           258

17.2.13  AGNETIX              259

17.2.14  THRIVE AGRITECH            259

17.2.15  VIVIDGRO (SUBSIDIARY OF LIGHTING SCIENCE GROUP CORPORATION) 260

17.2.16  HYPERION GROW LIGHTS             260

17.2.17  NICHIA CORPORATION  261

17.2.18  EVERLIGHT ELECTRONICS             261

17.2.19  SAN’AN OPTOELECTRONICS        262

17.2.20  INDULUX TECHNOLOGIES            262

*Details on Business overview, Products/solutions/services offered, Recent developments, MnM view, Key strengths/right to win, Strategic choices made, and Weaknesses and competitive threats might not be captured in case of unlisted companies.

18           APPENDIX           263

18.1        INSIGHTS FROM INDUSTRY EXPERTS       263

18.2        DISCUSSION GUIDE        264

18.3        KNOWLEDGE STORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL  268

18.4        AVAILABLE CUSTOMIZATIONS   270

18.5        RELATED REPORTS           270

18.6        AUTHOR DETAILS             271

Telecom Power System Market by grid type (On-Grid, Off-Grid, Bad grid), component, power source, Technology, (AC power system, DC power system), Power...

Publisher:        MarketsandMarkets

# of Pages:        230

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Publication Date:  March, 2022

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1 INTRODUCTION 22
1.1 STUDY OBJECTIVES 22
1.2 MARKET DEFINITION 22
1.3 STUDY SCOPE 23
1.3.1 MARKET SEGMENTATION 23
FIGURE 1 TELECOM POWER SYSTEM MARKET SEGMENTATION 23
1.3.2 GEOGRAPHIC SCOPE 23
1.3.3 INCLUSIONS AND EXCLUSIONS 24
1.3.4 YEARS CONSIDERED 25
1.4 CURRENCY 25
1.5 STAKEHOLDERS 25
1.6 SUMMARY OF CHANGES 26
2 RESEARCH METHODOLOGY 27
2.1 RESEARCH DATA 27
FIGURE 2 TELECOM POWER SYSTEM MARKET: RESEARCH DESIGN 27
2.1.1 SECONDARY DATA 28
2.1.1.1 Secondary sources 28
2.1.2 PRIMARY DATA 29
2.1.2.1 Primary interviews with experts 29
2.1.2.2 Breakdown of primary interviews 29
2.1.2.3 Key data from primary sources 30
2.1.2.4 Key industry insights 30
2.2 MARKET SIZE ESTIMATION 31
FIGURE 3 TELECOM POWER SYSTEM MARKET: PROCESS FLOW OF MARKET SIZE ESTIMATION 31
2.2.1 TOP-DOWN APPROACH 31
2.2.1.1 Approach for capturing market size by top-down analysis
(supply side) 32
FIGURE 4 TOP-DOWN APPROACH: MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 SUPPLY SIDE 32
FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 - SUPPLY SIDE 33
2.2.2 BOTTOM-UP APPROACH 34
2.2.2.1 Approach for capturing market share by bottom-up analysis
(demand side) 34
FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 - DEMAND SIDE 34
2.3 MARKET BREAKDOWN AND DATA TRIANGULATION 35
FIGURE 7 DATA TRIANGULATION 35
 
2.4 RESEARCH ASSUMPTIONS 36
TABLE 1 ASSUMPTIONS FOR RESEARCH STUDY 36
2.5 LIMITATIONS 37
2.6 RISK FACTORS 37
3 EXECUTIVE SUMMARY 38
FIGURE 8 TELECOM POWER SYSTEM MARKET, 2018–2027 (USD BILLION) 39
3.1 TELECOM POWER SYSTEM MARKET SCENARIO 39
FIGURE 9 GROWTH PROJECTIONS FOR TELECOM POWER SYSTEM MARKET IN REALISTIC, OPTIMISTIC, AND PESSIMISTIC SCENARIOS 39
3.1.1 REALISTIC SCENARIO 40
3.1.2 PESSIMISTIC SCENARIO 40
3.1.3 OPTIMISTIC SCENARIO 40
FIGURE 10 BAD GRID SEGMENT TO HOLD LARGEST SHARE OF TELECOM POWER SYSTEM MARKET, BY GRID TYPE, DURING FORECAST PERIOD 40
FIGURE 11 INVERTERS TO REGISTER HIGHEST CAGR IN TELECOM POWER SYSTEM MARKET, BY COMPONENT, DURING FORECAST PERIOD 41
FIGURE 12 DIESEL-BATTERY SEGMENT HELD LARGEST SHARE, BY POWER SOURCE,
OF TELECOM POWER SYSTEM MARKET IN 2021 41
FIGURE 13 APAC TO EXHIBIT HIGHEST CAGR IN GLOBAL TELECOM POWER SYSTEM MARKET DURING FORECAST PERIOD 42
4 PREMIUM INSIGHTS 43
4.1 ATTRACTIVE OPPORTUNITIES IN TELECOM POWER SYSTEM MARKET 43
FIGURE 14 INCREASING NUMBER OF TELECOM INFRASTRUCTURES IN REMOTE AREAS TO CREATE GROWTH OPPORTUNITIES FOR MARKET 43
4.2 TELECOM POWER SYSTEM MARKET, BY POWER SOURCE 44
FIGURE 15 DIESEL-SOLAR POWER SOURCE TO WITNESS HIGHEST CAGR IN TELECOM POWER SYSTEM MARKET DURING FORECAST PERIOD 44
4.3 TELECOM POWER SYSTEM MARKET, BY GRID TYPE 44
FIGURE 16 BAD-GRID SEGMENT HELD LARGEST SHARE OF TELECOM POWER SYSTEM MARKET IN 2021 44
4.4 TELECOM POWER SYSTEM MARKET, BY COMPONENT 45
FIGURE 17 INVERTER COMPONENT SEGMENT TO EXPERIENCE HIGHEST CAGR IN TELECOM POWER SYSTEM MARKET DURING FORECAST PERIOD 45
4.5 COUNTRY-WISE TELECOM POWER SYSTEM MARKET GROWTH 46
FIGURE 18 TELECOM POWER SYSTEM MARKET IN INDIA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 46
5 MARKET OVERVIEW 47
5.1 INTRODUCTION 47
5.2 MARKET DYNAMICS 47
FIGURE 19 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES 47
5.2.1 DRIVERS 48
FIGURE 20 TELECOM POWER SYSTEM MARKET DRIVERS AND THEIR IMPACT 48
5.2.1.1 Increasing number of telecom infrastructures in remote areas 48
TABLE 2 4G TECHNOLOGY PENETRATION IN URBAN VS RURAL AREAS 49
5.2.1.2 Growing adoption of telecom services and high data traffic 49
FIGURE 21 MOBILE DATA TRAFFIC 2018–2022 49
TABLE 3 PENETRATION OF INDIVIDUALS USING INTERNET 50
5.2.1.3 Rising awareness about reducing carbon footprint from telecom power systems 50
5.2.2 RESTRAINTS 51
FIGURE 22 TELECOM POWER SYSTEM MARKET RESTRAINTS AND THEIR IMPACT 51
5.2.2.1 High deployment and operational costs 51
5.2.2.2 Environmental concerns due to usage of diesel 51
5.2.3 OPPORTUNITY 52
FIGURE 23 TELECOM POWER SYSTEM MARKET OPPORTUNITIES AND THEIR IMPACT 52
5.2.3.1 Growing adoption of hybrid power systems 52
5.2.3.2 Increasing technological advancements in cellular networks
(5G, LTE services, etc.) 53
TABLE 4 4G TECHNOLOGY PENETRATION 53
5.2.3.3 Surging requirements for advanced telecom infrastructure and
M2M connections 53
FIGURE 24 CELLULAR IOT CONNECTIONS, 2019 VS. 2025 54
5.2.3.4 Rising use of GaN-based power devices with evolution of 5G technology 54
5.2.4 CHALLENGES 55
FIGURE 25 TELECOM POWER SYSTEM MARKET CHALLENGES AND THEIR IMPACT 55
5.2.4.1 Lack of infrastructure development for energy management 55
5.2.4.2 Design challenges for telecom power systems 55
5.3 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES 56
FIGURE 26 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESSES RELATED TO TELECOM POWER SYSTEM MARKET 56
5.4 ECOSYSTEM/MARKET MAP 57
TABLE 5 TELECOM POWER SYSTEM MARKET: ECOSYSTEM 57
FIGURE 27 KEY PLAYERS IN TELECOM POWER SYSTEM ECOSYSTEM 58
5.4.1 TELECOM POWER SYSTEM MANUFACTURERS 58
5.4.2 TELECOM NETWORK SOLUTION PROVIDERS 58
5.4.3 SYSTEM INTEGRATORS 58
5.4.4 NETWORK OPERATORS 59
5.5 TECHNOLOGY ANALYSIS 59
5.5.1 5G NETWORK 59
5.5.2 SMART MANUFACTURING 59
5.5.3 ASSET PERFORMANCE MANAGEMENT SYSTEMS 60
5.6 VALUE CHAIN ANALYSIS 60
FIGURE 28 VALUE CHAIN: TELECOM POWER SYSTEM MARKET 60
 
5.7 PATENT ANALYSIS 62
TABLE 6 NOTABLE PATENTS PERTAINING TO TELECOM POWER SYSTEM MARKET 62
TABLE 7 NUMBER OF PATENTS REGISTERED RELATED TO TELECOM POWER SYSTEM MARKET IN LAST 10 YEARS 66
FIGURE 29 TOP 10 COMPANIES WITH HIGHEST NO. OF PATENT APPLICATIONS IN LAST 10 YEARS 67
FIGURE 30 NO. OF PATENTS GRANTED PER YEAR, 2012–2021 67
5.8 REGULATORY LANDSCAPE 68
5.8.1 NORTH AMERICA 68
5.8.2 EUROPE 68
5.8.3 APAC 69
5.8.4 GLOBAL 69
5.9 TRADE DATA 69
5.9.1 IMPORT DATA 70
TABLE 8 IMPORT DATA FOR HS CODE 8504, BY COUNTRY, 2016–2020 (USD BILLION) 70
5.9.2 EXPORT DATA 70
TABLE 9 EXPORT DATA FOR HS CODE 8504, BY COUNTRY, 2016–2020 (USD BILLION) 70
5.10 CASE STUDY ANALYSIS 71
5.10.1 POWERING OF LARGE TELECOM AND SEASONAL AIR CONDITIONING 71
5.10.2 ADVANCED REMOTE TELECOM SITE AUTOMATION 71
5.10.3 OFF-GRID LTE WIRELESS NETWORKS 72
5.10.4 HYBRID OFF-GRID TELECOM SITES 72
5.10.5 HD-PLC FOR A FASTER, CHEAPER SMART METERING 73
5.11 KEY CONFERENCES & EVENTS DURING 2022–2023 73
TABLE 10 TELECOM POWER SYSTEM MARKET: DETAILED LIST OF CONFERENCES & EVENTS 73
5.12 PORTER’S FIVE FORCE ANALYSIS 77
TABLE 11 IMPACT OF PORTER’S FIVE FORCES ON TELECOM POWER SYSTEM MARKET 77
FIGURE 31 TELECOM POWER SYSTEM MARKET: PORTER’S FIVE FORCES ANALYSIS 77
5.12.1 INTENSITY OF COMPETITIVE RIVALRY 78
5.12.2 THREAT OF SUBSTITUTES 78
5.12.3 BARGAINING POWER OF BUYERS 78
5.12.4 BARGAINING POWER OF SUPPLIERS 78
5.12.5 THREAT OF NEW ENTRANTS 78
5.13 KEY STAKEHOLDERS & BUYING CRITERIA 79
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 79
FIGURE 32 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP 3 POWER SOURCES 79
TABLE 12 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP 3 POWER SOURCES (%) 79
5.13.2 BUYING CRITERIA 80
FIGURE 33 KEY BUYING CRITERIA FOR TOP 3 POWER SOURCES 80
TABLE 13 KEY BUYING CRITERIA FOR TOP 3 POWER SOURCES 80
5.14 AVERAGE SELLING PRICE (ASP) ANALYSIS 81
FIGURE 34 GLOBAL ASP OF TELECOM POEWR SYSTEMS, 2021 81
6 TELECOM POWER SYSTEM MARKET, BY COMPONENT 82
6.1 INTRODUCTION 83
FIGURE 35 INVERTERS TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 83
TABLE 14 TELECOM POWER SYSTEM MARKET, BY COMPONENT,
2018–2021 (USD MILLION) 83
TABLE 15 TELECOM POWER SYSTEM MARKET, BY COMPONENT,
2022–2027 (USD MILLION) 84
6.2 RECTIFIERS 84
6.2.1 RECTIFIERS CONVERT ALTERNATING CURRENT TO DIRECT CURRENT AND PROVIDE POWER TO CHARGE BATTERIES 84
6.3 INVERTERS 85
6.3.1 INVERTERS TO REGISTER HIGHEST CAGR IN TELECOM POWER SYSTEM MARKET DURING FORECAST PERIOD 85
6.4 CONVERTERS 85
6.4.1 MAJOR FUNCTION OF CONVERTERS IS TO CONVERT UNREGULATED VOLTAGE INTO REGULATED VOLTAGE 85
6.5 CONTROLLERS 86
6.5.1 CONTROLLERS PROVIDE INTELLIGENT CONTROL AND MONITOR OPERATIONAL PARAMETERS OF TEMECOM POEWR SYSTEMS 86
6.6 HEAT MANAGEMENT SYSTEMS 86
6.6.1 HEAT MANAGEMENT SYSTEMS OFFER INCLUDE HEAT EXCHANGE, DIRECT VENTILATION, THERMOELECTRIC COOLING, AND DC-POWERED AIR CONDITIONING 86
6.7 GENERATORS 87
6.7.1 GENERATORS PROVIDE RELIABILITY AND LONG HOURS OF USE IN REMOTE LOCATIONS WITHOUT COMPROMISING PERFORMANCE 87
6.8 OTHERS 87
6.8.1 POWER DISTRIBUTION UNITS 87
6.8.2 BATTERIES 88
6.8.3 SOLAR OR PV CELLS 88
6.8.4 WIND TURBINES 88
6.8.5 SURGE PROTECTION DEVICES 89
6.8.6 CIRCUIT BREAKERS 89
7 TELECOM POWER SYSTEM MARKET, BY GRID TYPE 91
7.1 INTRODUCTION 92
FIGURE 36 TELECOM POWER SYSTEM FOR OFF-GRID TYPE TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 92
TABLE 16 TELECOM POWER SYSTEM MARKET, BY GRID TYPE,
2018–2021 (USD MILLION) 92
TABLE 17 TELECOM POWER SYSTEM MARKET, BY GRID TYPE,
2022–2027 (USD MILLION) 92
 
7.2 ON-GRID 93
7.2.1 ON-GRID-CONNECTED TELECOM POWER SYSTEMS HAVE LOWER ENVIRONMENTAL IMPACT 93
TABLE 18 TELECOM POWER SYSTEM MARKET FOR ON-GRID, BY REGION,
2018–2021 (USD MILLION) 93
TABLE 19 TELECOM POWER SYSTEM MARKET FOR ON-GRID, BY REGION,
2022–2027 (USD MILLION) 93
7.3 OFF-GRID 94
7.3.1 OFF-GRID-CONNECTED TELECOM POWER SYSTEMS ARE EXPECTED TO WITNESS HIGHEST CAGR DURING FORECAST PERIOD 94
TABLE 20 TELECOM POWER SYSTEM MARKET FOR OFF-GRID, BY REGION,
2018–2021 (USD MILLION) 94
TABLE 21 TELECOM POWER SYSTEM MARKET FOR OFF-GRID BY REGION,
2022–2027 (USD MILLION) 95
7.4 BAD GRID 95
7.4.1 BAD GRID-CONNECTED TELECOM POWER SYSTEMS ARE MAINLY USED IN DEVELOPING ECONOMIES SUCH AS INDIA, BRAZIL, AND AFRICAN COUNTRIES 95
TABLE 22 TELECOM POWER SYSTEM MARKET FOR BAD GRID, BY REGION,
2018–2021 (USD MILLION) 96
TABLE 23 TELECOM POWER SYSTEM MARKET FOR BAD GRID BY REGION,
2022–2027 (USD MILLION) 96
8 TELECOM POWER SYSTEM MARKET, BY POWER RATING 97
8.1 INTRODUCTION 98
FIGURE 37 TELECOM POWER SYSTEMS WITH BELOW 10 KW POWER RATING TO DOMINATE MARKET DURING FORECAST PERIOD 98
TABLE 24 TELECOM POWER SYSTEM MARKET, BY POWER RATING,
2018–2021 (USD MILLION) 98
TABLE 25 TELECOM POWER SYSTEM MARKET, BY POWER RATING,
2022–2027 (USD MILLION) 99
TABLE 26 TELECOM POWER SYSTEM MARKET, BY POWER RATING,
2018–2021 (THOUSAND UNITS) 99
TABLE 27 TELECOM POWER SYSTEM MARKET, BY POWER RATING,
2022–2027 (THOUSAND UNITS) 99
8.2 BELOW 10 KW 100
8.2.1 TELECOM POWER SYSTEMS BELOW 10 KW ARE MAINLY USED IN CELL TOWERS, BTS, AND BASE STATIONS FOR TELECOM TOWERS 100
8.3 10–20 KW 100
8.3.1 POWER SYSTEMS OF 10–20 KW RATING ARE PRIMARILY USED IN
5G TOWERS AND RECTIFIER MODULES 100
8.4 ABOVE 20 KW 100
8.4.1 POWER SYSTEMS ABOVE 20 KW ARE MAINLY USED IN ACCESS NETWORKS, DATA CENTERS, AND INDOOR POWER SYSTEMS 100
 
9 TELECOM POWER SYSTEM MARKET, BY POWER SOURCE 101
9.1 INTRODUCTION 102
FIGURE 38 TELECOM POWER SYSTEM MARKET FOR DIESEL-SOLAR POWER SOURCE TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD 102
TABLE 28 TELECOM POWER SYSTEM MARKET, BY POWER SOURCE,
2018–2021 (USD MILLION) 102
TABLE 29 TELECOM POWER SYSTEM MARKET, BY POWER SOURCE,
2022–2027 (USD MILLION) 103
9.2 DIESEL–BATTERY POWER SOURCE 103
9.2.1 DIESEL–BATTERY POWER SOURCE IS MOST COMMON POWER SOURCE USED FOR TELECOM POWER SYSTEMS 103
TABLE 30 ADVANTAGES OF DIESEL–BATTERY POWER SOURCE 103
TABLE 31 DISADVANTAGES OF DIESEL–BATTERY POWER SOURCE 104
TABLE 32 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE, BY REGION, 2018–2021 (USD MILLION) 104
TABLE 33 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE BY REGION, 2022–2027 (USD MILLION) 105
TABLE 34 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION) 105
TABLE 35 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION) 105
TABLE 36 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE IN EUROPE, BY COUNTRY, 2018–2021 (USD MILLION) 106
TABLE 37 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION) 106
TABLE 38 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE IN APAC, BY COUNTRY, 2018–2021 (USD MILLION) 106
TABLE 39 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE IN APAC, BY COUNTRY, 2022–2027 (USD MILLION) 107
TABLE 40 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE IN ROW, BY REGION, 2018–2021 (USD MILLION) 107
TABLE 41 TELECOM POWER SYSTEM MARKET FOR DIESEL–BATTERY POWER SOURCE IN ROW, BY REGION, 2022–2027 (USD MILLION) 107
9.3 DIESEL–SOLAR POWER SOURCE 108
9.3.1 DIESEL–SOLAR POWER SOURCE IS DESIGNED TO USE IN MORE REMOTE CELLULAR BASE STATIONS 108
TABLE 42 ADVANTAGES OF DIESEL–SOLAR POWER SOURCE 108
TABLE 43 DISADVANTAGES OF DIESEL–SOLAR POWER SOURCE 109
TABLE 44 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE,
BY REGION, 2018–2021 (USD MILLION) 109
TABLE 45 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE,
BY REGION, 2022–2027 (USD MILLION) 110
TABLE 46 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION) 110
TABLE 47 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION) 110
TABLE 48 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE IN EUROPE, BY COUNTRY, 2018–2021 (USD MILLION) 111
TABLE 49 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION) 111
TABLE 50 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE IN APAC, BY COUNTRY, 2018–2021 (USD MILLION) 111
TABLE 51 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE IN APAC, BY COUNTRY, 2022–2027 (USD MILLION) 112
TABLE 52 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE IN ROW, BY REGION, 2018–2021 (USD MILLION) 112
TABLE 53 TELECOM POWER SYSTEM MARKET FOR DIESEL–SOLAR POWER SOURCE IN ROW, BY REGION, 2022–2027 (USD MILLION) 112
9.4 DIESEL–WIND POWER SOURCE 113
9.4.1 DIESEL–WIND POWER SYSTEMS ARE WELL SUITED IN BAD-GRID AND OFF-GRID AREAS 113
TABLE 54 ADVANTAGES OF DIESEL–WIND POWER SOURCE 113
TABLE 55 DISADVANTAGES OF DIESEL–WIND POWER SOURCE 113
TABLE 56 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE,
BY REGION, 2018–2021 (USD MILLION) 114
TABLE 57 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE,
BY REGION, 2022–2027 (USD MILLION) 114
TABLE 58 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION) 114
TABLE 59 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION) 115
TABLE 60 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE IN EUROPE, BY COUNTRY, 2018–2021 (USD MILLION) 115
TABLE 61 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION) 115
TABLE 62 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE IN APAC, BY COUNTRY, 2018–2021 (USD MILLION) 116
TABLE 63 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE IN APAC, BY COUNTRY, 2022–2027 (USD MILLION) 116
TABLE 64 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE IN ROW, BY REGION, 2018–2021 (USD MILLION) 116
TABLE 65 TELECOM POWER SYSTEM MARKET FOR DIESEL–WIND POWER SOURCE IN ROW, BY REGION, 2022–2027 (USD MILLION) 117
9.5 MULTIPLE POWER SOURCES (DIESEL/SOLAR/WIND/BATTERY/BIOMASS) 117
9.5.1 MULTIPLE POWER SOURCES ENABLE COST-EFFECTIVE WAY OF GENERATING ELECTRICITY 117
TABLE 66 ADVANTAGES OF DIESEL–BIOMASS POWER SOURCE 118
TABLE 67 DISADVANTAGES OF DIESEL–BIOMASS POWER SOURCE 118
TABLE 68 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES,
BY REGION, 2018–2021 (USD MILLION) 118
TABLE 69 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES,
BY REGION, 2022–2027 (USD MILLION) 119
TABLE 70 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION) 119
TABLE 71 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION) 119
TABLE 72 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES IN EUROPE, BY COUNTRY, 2018–2021 (USD MILLION) 120
TABLE 73 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION) 120
TABLE 74 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES IN APAC, BY COUNTRY, 2018–2021 (USD MILLION) 120
TABLE 75 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES IN APAC, BY COUNTRY, 2022–2027 (USD MILLION) 121
TABLE 76 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES IN ROW, BY REGION, 2018–2021 (USD MILLION) 121
TABLE 77 TELECOM POWER SYSTEM MARKET FOR MULTIPLE POWER SOURCES IN ROW, BY REGION, 2022–2027 (USD MILLION) 121
10 TELECOM POWER SYSTEM MARKET, BY TECHNOLOGY 122
10.1 INTRODUCTION 123
FIGURE 39 DC POWER SYSTEMS TO HOLD LARGER SHARE OF TELECOM POWER SYSTEM MARKET DURING FORECAST PERIOD 123
TABLE 78 TELECOM POWER SYSTEM MARKET, BY TECHNOLOGY,
2018–2021 (USD MILLION) 123
TABLE 79 TELECOM POWER SYSTEM MARKET, BY TECHNOLOGY,
2022–2027 (USD MILLION) 123
10.2 AC POWER SYSTEMS 124
10.2.1 AC POWER SYSTEMS ARE MAINLY USED FOR TESTING RF AMPLIFIERS, SATELLITES, AND DATA CENTERS 124
10.3 DC POWER SYSTEMS 124
10.3.1 DC POWER SYSTEMS ARE MAINLY USED IN TELECOM POWER SYSTEMS 124
11 GEOGRAPHIC ANALYSIS 125
11.1 INTRODUCTION 126
FIGURE 40 APAC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 126
TABLE 80 TELECOM POWER SYSTEM MARKET, BY REGION, 2018–2021 (USD MILLION) 126
TABLE 81 TELECOM POWER SYSTEM MARKET, BY REGION, 2022–2027 (USD MILLION) 127
11.2 NORTH AMERICA 127
FIGURE 41 SNAPSHOT: TELECOM POWER SYSTEM MARKET IN NORTH AMERICA 128
TABLE 82 TELECOM POWER SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY, 2018–2021 (USD MILLION) 128
TABLE 83 TELECOM POWER SYSTEM MARKET IN NORTH AMERICA, BY COUNTRY, 2022–2027 (USD MILLION) 129
TABLE 84 TELECOM POWER SYSTEM MARKET IN NORTH AMERICA, BY POWER SOURCE, 2018–2021 (USD MILLION) 129
TABLE 85 TELECOM POWER SYSTEM MARKET IN NORTH AMERICA, BY POWER SOURCE, 2022–2027 (USD MILLION) 129
 
11.2.1 US 129
11.2.1.1 US held largest size of North American market in 2021 129
TABLE 86 TELECOM POWER SYSTEM MARKET IN US, BY POWER SOURCE,
2018–2021 (USD MILLION) 130
TABLE 87 TELECOM POWER SYSTEM MARKET IN US, BY POWER SOURCE,
2022–2027 (USD MILLION) 130
11.2.2 CANADA 131
11.2.2.1 Demand for telecom power systems in Canada is primarily driven by development of telecom infrastructure in rural areas 131
TABLE 88 TELECOM POWER SYSTEM MARKET IN CANADA, BY POWER SOURCE,
2018–2021 (USD MILLION) 131
TABLE 89 TELECOM POWER SYSTEM MARKET IN CANADA, BY POWER SOURCE,
2022–2027 (USD MILLION) 131
11.2.3 MEXICO 132
11.2.3.1 Mexico is estimated to be fastest-growing market in North America during forecast period 132
TABLE 90 TELECOM POWER SYSTEM MARKET IN MEXICO, BY POWER SOURCE,
2018–2021 (USD MILLION) 132
TABLE 91 TELECOM POWER SYSTEM MARKET IN MEXICO, BY POWER SOURCE,
2022–2027 (USD MILLION) 132
11.3 EUROPE 133
FIGURE 42 SNAPSHOT: TELECOM POWER SYSTEM MARKET IN EUROPE 134
TABLE 92 TELECOM POWER SYSTEM MARKET IN EUROPE, BY COUNTRY,
2018–2021 (USD MILLION) 134
TABLE 93 TELECOM POWER SYSTEM MARKET IN EUROPE, BY COUNTRY,
2022–2027 (USD MILLION) 135
TABLE 94 TELECOM POWER SYSTEM MARKET IN EUROPE, BY POWER SOURCE,
2018–2021 (USD MILLION) 135
TABLE 95 TELECOM POWER SYSTEM MARKET IN EUROPE, BY POWER SOURCE,
2022–2027 (USD MILLION) 135
11.3.1 UK 136
11.3.1.1 UK is expected to be fastest-growing market in Europe during forecast period 136
TABLE 96 TELECOM POWER SYSTEM MARKET IN UK, BY POWER SOURCE,
2018–2021 (USD MILLION) 136
TABLE 97 TELECOM POWER SYSTEM MARKET IN UK, BY POWER SOURCE,
2022–2027 (USD MILLION) 136
11.3.2 GERMANY 137
11.3.2.1 Germany held largest share of telecom power system market in Europe in 2021 137
TABLE 98 TELECOM POWER SYSTEM MARKET IN GERMANY, BY POWER SOURCE, 2018–2021 (USD MILLION) 137
TABLE 99 TELECOM POWER SYSTEM MARKET IN GERMANY, BY POWER SOURCE, 2022–2027 (USD MILLION) 137
 
11.3.3 FRANCE 138
11.3.3.1 Expected introduction of upcoming 5G technology provides significant investment opportunities for leading telecom power system providers in France 138
TABLE 100 TELECOM POWER SYSTEM MARKET IN FRANCE, BY POWER SOURCE,
2018–2021 (USD MILLION) 138
TABLE 101 TELECOM POWER SYSTEM MARKET IN FRANCE, BY POWER SOURCE,
2022–2027 (USD MILLION) 138
11.3.4 SPAIN 139
11.3.4.1 Spain has developed telecommunication services with various new technologies and innovation trends 139
TABLE 102 TELECOM POWER SYSTEM MARKET IN SPAIN, BY POWER SOURCE,
2018–2021 (USD MILLION) 139
TABLE 103 TELECOM POWER SYSTEM MARKET IN SPAIN, BY POWER SOURCE,
2022–2027 (USD MILLION) 139
11.3.5 REST OF EUROPE 140
TABLE 104 TELECOM POWER SYSTEM MARKET IN REST OF EUROPE, BY POWER SOURCE, 2018–2021 (USD MILLION) 140
TABLE 105 TELECOM POWER SYSTEM MARKET IN REST OF EUROPE, BY POWER SOURCE, 2022–2027 (USD MILLION) 140
11.4 APAC 140
FIGURE 43 SNAPSHOT: TELECOM POWER SYSTEM MARKET IN APAC 141
TABLE 106 TELECOM POWER SYSTEM MARKET IN APAC, BY COUNTRY,
2018–2021 (USD MILLION) 142
TABLE 107 TELECOM POWER SYSTEM MARKET IN APAC, BY COUNTRY,
2022–2027 (USD MILLION) 142
TABLE 108 TELECOM POWER SYSTEM MARKET IN APAC, BY POWER SOURCE,
2018–2021 (USD MILLION) 142
TABLE 109 TELECOM POWER SYSTEM MARKET IN APAC, BY POWER SOURCE,
2022–2027 (USD MILLION) 143
11.4.1 CHINA 143
11.4.1.1 China held largest share of telecom power system market in APAC
in 2021 143
TABLE 110 TELECOM POWER SYSTEM MARKET IN CHINA, BY POWER SOURCE,
2018–2021 (USD MILLION) 144
TABLE 111 TELECOM POWER SYSTEM MARKET IN CHINA, BY POWER SOURCE,
2022–2027 (USD MILLION) 144
11.4.2 JAPAN 144
11.4.2.1 Development and deployment of advanced telecom network infrastructures present opportunities for telecom power system providers in Japan 144
TABLE 112 TELECOM POWER SYSTEM MARKET IN JAPAN, BY POWER SOURCE,
2018–2021 (USD MILLION) 145
TABLE 113 TELECOM POWER SYSTEM MARKET IN JAPAN, BY POWER SOURCE,
2022–2027 (USD MILLION) 145
 
11.4.3 SOUTH KOREA 145
11.4.3.1 South Korea is among leaders in terms of development of telecom networks 145
TABLE 114 TELECOM POWER SYSTEM MARKET IN SOUTH KOREA, BY POWER SOURCE, 2018–2021 (USD MILLION) 146
TABLE 115 TELECOM POWER SYSTEM MARKET IN SOUTH KOREA, BY POWER SOURCE, 2022–2027 (USD MILLION) 146
11.4.4 INDIA 146
11.4.4.1 India is expected to be fastest-growing market during forecast period 146
TABLE 116 TELECOM POWER SYSTEM MARKET IN INDIA, BY POWER SOURCE,
2018–2021 (USD MILLION) 147
TABLE 117 TELECOM POWER SYSTEM MARKET IN INDIA, BY POWER SOURCE,
2022–2027 (USD MILLION) 147
11.4.5 AUSTRALIA & NEW ZEALAND 148
11.4.5.1 Technological advancements and telecom infrastructure developments propel growth of telecom power system market 148
TABLE 118 TELECOM POWER SYSTEM MARKET IN AUSTRALIA & NEW ZEALAND,
BY POWER SOURCE, 2018–2021 (USD MILLION) 148
TABLE 119 TELECOM POWER SYSTEM MARKET IN AUSTRALIA & NEW ZEALAND,
BY POWER SOURCE, 2022–2027 (USD MILLION) 148
11.4.6 REST OF APAC 149
TABLE 120 TELECOM POWER SYSTEM MARKET IN REST OF APAC, BY POWER SOURCE, 2018–2021 (USD MILLION) 149
TABLE 121 TELECOM POWER SYSTEM MARKET IN REST OF APAC, BY POWER SOURCE, 2022–2027 (USD MILLION) 149
11.5 ROW 150
TABLE 122 TELECOM POWER SYSTEM MARKET IN ROW, BY REGION,
2018–2021 (USD MILLION) 150
TABLE 123 TELECOM POWER SYSTEM MARKET IN ROW, BY REGION,
2022–2027 (USD MILLION) 150
TABLE 124 TELECOM POWER SYSTEM MARKET IN ROW, BY POWER SOURCE,
2018–2021 (USD MILLION) 150
TABLE 125 TELECOM POWER SYSTEM MARKET IN ROW, BY POWER SOURCE,
2022–2027 (USD MILLION) 151
11.5.1 MIDDLE EAST AND AFRICA 151
11.5.1.1 Middle East and Africa are expected to witness higher growth of market in RoW during forecast period 151
TABLE 126 TELECOM POWER SYSTEM MARKET IN MIDDLE EAST AND AFRICA,
BY POWER SOURCE, 2018–2021 (USD MILLION) 152
TABLE 127 TELECOM POWER SYSTEM MARKET IN MIDDLE EAST AND AFRICA,
BY POWER SOURCE, 2022–2027 (USD MILLION) 152
11.5.2 SOUTH AMERICA 152
11.5.2.1 Deployment of telecom infrastructures in rural areas propels growth of market in South America 152
TABLE 128 TELECOM POWER SYSTEM MARKET IN SOUTH AMERICA, BY POWER SOURCE, 2018–2021 (USD MILLION) 153
TABLE 129 TELECOM POWER SYSTEM MARKET IN SOUTH AMERICA, BY POWER SOURCE, 2022–2027 (USD MILLION) 153
12 COMPETITIVE LANDSCAPE 154
12.1 OVERVIEW 154
12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 154
TABLE 130 OVERVIEW OF STRATEGIES DEPLOYED BY KEY MARKET PLAYERS 154
12.2.1 PRODUCT PORTFOLIO 156
12.2.2 REGIONAL FOCUS 156
12.2.3 MANUFACTURING FOOTPRINT 156
12.2.4 ORGANIC/INORGANIC GROWTH STRATEGIES 156
12.3 MARKET SHARE ANALYSIS: TELECOM POWER SYSTEM MARKET, 2021 157
TABLE 131 TELECOM POWER SYSTEM MARKET: DEGREE OF COMPETITION, 2021 157
12.4 5-YEAR COMPANY REVENUE ANALYSIS 158
FIGURE 44 5-YEAR REVENUE ANALYSIS OF TOP FIVE PLAYERS IN TELECOM POWER SYSTEM MARKET 158
12.5 COMPANY EVALUATION QUADRANT 158
12.5.1 STAR 158
12.5.2 EMERGING LEADER 158
12.5.3 PERVASIVE 159
12.5.4 PARTICIPANT 159
FIGURE 45 TELECOM POWER SYSTEM COMPANY EVALUATION QUADRANT, 2021 159
12.5.5 COMPANY FOOTPRINT 160
TABLE 132 OVERALL COMPANY FOOTPRINT 160
TABLE 133 FOOTPRINT OF DIFFERENT COMPANIES FOR VARIOUS POWER SOURCES 161
TABLE 134 FOOTPRINT OF DIFFERENT COMPANIES FOR VARIOUS COMPONENTS 162
TABLE 135 FOOTPRINT OF DIFFERENT COMPANIES FOR VARIOUS REGIONS 163
12.6 START-UP/SME EVALUATION MATRIX 164
TABLE 136 LIST OF START-UPS IN TELECOM POWER SYSTEM MARKET 164
12.6.1 PROGRESSIVE COMPANIES 165
12.6.2 RESPONSIVE COMPANIES 165
12.6.3 DYNAMIC COMPANIES 165
12.6.4 STARTING BLOCKS 165
FIGURE 46 TELECOM POWER SYSTEM MARKET, STARTUP/SME EVALUATION MATRIX, 2021 166
12.7 COMPETITIVE SITUATIONS AND TRENDS 167
12.7.1 PRODUCT LAUNCHES 167
TABLE 137 PRODUCT LAUNCHES, 2020–2022 167
12.7.2 DEALS 173
TABLE 138 DEALS, 2020–2022 173
 
13 COMPANY PROFILES 175
13.1 INTRODUCTION 175
(Business overview, Products/solutions/services offered, Recent developments & MnM View)*
13.2 KEY PLAYERS 175
13.2.1 EATON 175
TABLE 139 EATON: COMPANY SNAPSHOT 176
FIGURE 47 EATON: COMPANY SNAPSHOT 176
13.2.2 HUAWEI TECHNOLOGIES 182
TABLE 140 HUAWEI TECHNOLOGIES: COMPANY SNAPSHOT 182
FIGURE 48 HUAWEI TECHNOLOGIES: COMPANY SNAPSHOT 183
13.2.3 CUMMINS 188
TABLE 141 CUMMINS: COMPANY SNAPSHOT 188
FIGURE 49 CUMMINS: COMPANY SNAPSHOT 189
13.2.4 ZTE CORPORATION 192
TABLE 142 ZTE CORPORATION: COMPANY SNAPSHOT 192
FIGURE 50 ZTE CORPORATION: COMPANY SNAPSHOT 193
13.2.5 GENERAL ELECTRIC 197
TABLE 143 GENERAL ELECTRIC: COMPANY SNAPSHOT 197
FIGURE 51 GENERAL ELECTRIC: COMPANY SNAPSHOT 198
13.2.6 SCHNEIDER ELECTRIC 201
TABLE 144 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT 201
FIGURE 52 SCHNEIDER ELECTRIC: COMPANY SNAPSHOT 202
13.2.7 ALPHA TECHNOLOGIES 205
TABLE 145 ALPHA TECHNOLOGIES: COMPANY SNAPSHOT 205
13.2.8 DELTA ELECTRONICS 207
TABLE 146 DELTA ELECTRONICS: COMPANY SNAPSHOT 207
FIGURE 53 DELTA ELECTRONICS: COMPANY SNAPSHOT 208
13.2.9 ABB 210
TABLE 147 ABB: COMPANY SNAPSHOT 210
FIGURE 54 ABB: COMPANY SNAPSHOT 211
*Details on Business overview, Products/solutions/services offered, Recent developments & MnM View might not be captured in case of unlisted companies.
13.3 OTHER PLAYERS 214
13.3.1 ASCOT INDUSTRIAL 214
TABLE 148 ASCOT INDUSTRIAL: COMPANY SNAPSHOT 214
13.3.2 UNIPOWER 215
TABLE 149 UNIPOWER: COMPANY SNAPSHOT 215
13.3.3 DYNAMIC POWER GROUP 216
TABLE 150 DYNAMIC POWER GROUP: COMPANY SNAPSHOT 216
13.3.4 EFORE 217
TABLE 151 EFORE: COMPANY SNAPSHOT 217
13.3.5 HANGZHOU ZHONGHENG POWER ENERGY 217
TABLE 152 HANGZHOU ZHONHENG POWER ENERGY: COMPANY SNAPSHOT 217
13.3.6 MYERS POWER PRODUCTS 218
TABLE 153 MYERS POWER PRODUCTS: COMPANY SNAPSHOT 218
13.3.7 STATICON 219
TABLE 154 STATICON: COMPANY SNAPSHOT 219
13.3.8 VERTIV GROUP 220
TABLE 155 VERTIV GROUP: COMPANY SNAPSHOT 220
13.3.9 VOLTSERVER 221
TABLE 156 VOLTSERVER: COMPANY SNAPSHOT 221
13.3.10 JMA WIRELESS 221
TABLE 157 JMA WIRELESS: COMPANY SNAPSHOT 221
13.3.11 CORNING INCORPORATED 222
TABLE 158 CORNING INCORPORATED: COMPANY SNAPSHOT 222
14 APPENDIX 223
14.1 DISCUSSION GUIDE 223
14.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 226
14.3 AVAILABLE CUSTOMIZATION 228
14.4 RELATED REPORTS 228
14.5 AUTHOR DETAILS 229

Smart Lock Market with COVID-19 Impact by Lock Type (Deadbolt Locks, Lever Handles), Communication Protocol (Bluetooth, WiFi), Unlocking Mechanism (Ke...

Publisher:        MarketsandMarkets

# of Pages:        184

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Publication Date:  March, 2022

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1 INTRODUCTION 25
1.1 STUDY OBJECTIVES 25
1.2 MARKET DEFINITION AND SCOPE 25
1.2.1 INCLUSIONS AND EXCLUSIONS 26
1.3 STUDY SCOPE 26
1.3.1 MARKETS COVERED 26
1.3.2 GEOGRAPHIC SCOPE 27
1.3.3 YEARS CONSIDERED 27
1.4 CURRENCY 27
1.5 MARKET STAKEHOLDERS 28
1.6 SUMMARY OF CHANGES 28
2 RESEARCH METHODOLOGY 29
2.1 RESEARCH DATA 29
FIGURE 1 SMART LOCK MARKET: RESEARCH DESIGN 29
2.1.1 SECONDARY DATA 30
2.1.1.1 List of major secondary sources 30
2.1.1.2 Secondary sources 30
2.1.2 PRIMARY DATA 31
2.1.2.1 Primary Expert Interviews 31
2.1.2.2 Key data from primary sources 32
2.1.2.3 Key industry insights 32
2.1.2.4 Breakdown of primaries 33
2.1.3 SECONDARY AND PRIMARY RESEARCH 34
2.2 MARKET SIZE ESTIMATION 35
FIGURE 2 PROCESS FLOW 35
2.2.1 BOTTOM-UP APPROACH 35
2.2.1.1 Approach for calculating market share through bottom-up analysis (demand side) 35
FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH 36
2.2.2 TOP-DOWN APPROACH 36
2.2.2.1 Approach for calculating market share through top-down analysis (supply side) 37
FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH 37
2.3 MARKET RANKING ESTIMATION 37
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION 38
FIGURE 5 MARKET BREAKDOWN AND DATA TRIANGULATION 38
2.5 RESEARCH ASSUMPTIONS 39
3 EXECUTIVE SUMMARY 40
FIGURE 6 DEADBOLT LOCKS SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 41
FIGURE 7 WI-FI COMMUNICATION PROTOCOL SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 41
FIGURE 8 KEYPAD UNLOCKING MECHANISM SEGMENT TO HOLD LARGEST SHARE OF SMART LOCK MARKET IN 2027 42
FIGURE 9 RESIDENTIAL VERTICAL TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 42
FIGURE 10 SMART LOCK MARKET IN APAC TO REGISTER HIGHEST CAGR BETWEEN
2022 AND 2027 43
4 PREMIUM INSIGHTS 44
4.1 ATTRACTIVE OPPORTUNITIES IN SMART LOCK MARKET 44
FIGURE 11 RISING DEMAND FOR INTERNET-BASED SECURITY SOLUTIONS TO DRIVE GROWTH OF SMART LOCK MARKET 44
4.2 SMART LOCK MARKET IN NORTH AMERICA, BY COUNTRY AND VERTICAL 44
FIGURE 12 US AND RESIDENTIAL VERTICAL TO DOMINATE NORTH AMERICAN SMART LOCK MARKET DURING FORECAST PERIOD 44
4.3 SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY LOCK TYPE 45
FIGURE 13 SMART LOCK MARKET FOR DEADBOLT LOCKS TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 45
4.4 SMART LOCK MARKET, BY COUNTRY 45
FIGURE 14 CHINA TO ACCOUNT FOR HIGHEST GROWTH RATE IN GLOBAL SMART LOCK MARKET IN 2022 45
5 MARKET OVERVIEW 46
5.1 INTRODUCTION 46
5.2 MARKET DYNAMICS 46
FIGURE 15 SMART LOCK MARKET DYNAMICS 46
FIGURE 16 DRIVERS AND THEIR IMPACT ON SMART LOCK MARKET 47
FIGURE 17 OPPORTUNITIES AND THEIR IMPACT ON SMART LOCK MARKET 48
FIGURE 18 RESTRAINTS & CHALLENGES AND THEIR IMPACT ON SMART LOCK MARKET 49
5.2.1 DRIVERS 49
5.2.1.1 Growing security concerns 49
5.2.1.2 Enhanced features compared with traditional lock systems 50
5.2.1.3 Rising adoption of smartphones and other connected devices 50
5.2.2 RESTRAINTS 50
5.2.2.1 High cost and perception of unreliability 50
5.2.2.2 Lack of awareness among customers 51
5.2.3 OPPORTUNITIES 51
5.2.3.1 Increasing adoption of IoT-based security systems 51
5.2.3.2 Rapid urbanization in emerging nations 51
5.2.3.3 Global proliferation of smart cities 52
5.2.4 CHALLENGES 52
5.2.4.1 Risk of cyberattacks through smart devices and IoT-enabled devices 52
5.3 VALUE CHAIN ANALYSIS 52
FIGURE 19 VALUE CHAIN ANALYSIS: MAJOR VALUE ADDED BY RAW MATERIAL SUPPLIERS AND ORIGINAL EQUIPMENT MANUFACTURERS 53
5.4 SMART LOCK MARKET ECOSYSTEM 54
FIGURE 20 SMART LOCK MARKET ECOSYSTEM 54
6 SMART LOCK MARKET, BY LOCK TYPE 55
6.1 INTRODUCTION 56
FIGURE 21 DEADBOLT LOCKS SEGMENT TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 56
TABLE 1 SMART LOCK MARKET, BY LOCK TYPE, 2018–2021 (USD MILLION) 56
TABLE 2 SMART LOCK MARKET, BY LOCK TYPE, 2022–2027 (USD MILLION) 57
TABLE 3 SMART LOCK MARKET, BY LOCK TYPE, 2018–2021 (MILLION UNITS) 57
TABLE 4 SMART LOCK MARKET, BY LOCK TYPE, 2022–2027 (MILLION UNITS) 58
6.2 DEADBOLT LOCKS 58
6.2.1 INCREASING DEPLOYMENT OF DEADBOLT LOCKS IN RESIDENTIAL SECTOR TO DRIVE MARKET GROWTH 58
FIGURE 22 RESIDENTIAL VERTICAL TO HOLD LARGEST SHARE OF SMART LOCK MARKET FOR DEADBOLTS DURING FORECAST PERIOD 59
TABLE 5 SMART LOCK MARKET FOR DEADBOLT LOCKS, BY VERTICAL,
2018–2021 (USD MILLION) 59
TABLE 6 SMART LOCK MARKET FOR DEADBOLT LOCKS, BY VERTICAL,
2022–2027 (USD MILLION) 59
6.3 LEVER HANDLES 60
6.3.1 CONVENIENT STRUCTURE AND THEIR COMPLIANCE WITH US DISABILITIES ACT 1990 TO FUEL DEMAND FOR LEVER HANDLES 60
TABLE 7 SMART LOCK MARKET FOR LEVER HANDLES, BY VERTICAL,
2018–2021 (USD MILLION) 60
TABLE 8 SMART LOCK MARKET FOR LEVER HANDLES, BY VERTICAL,
2022–2027 (USD MILLION) 60
6.4 SERVER LOCKS AND LATCHES 61
6.4.1 RISING CONCERNS REGARDING CYBERATTACKS TO FUEL DEMAND FOR SERVER LOCKS AND LATCHES 61
TABLE 9 SMART LOCK MARKET FOR SERVER LOCKS AND LATCHES, BY VERTICAL, 2018–2021 (USD MILLION) 61
TABLE 10 SMART LOCK MARKET FOR SERVER LOCKS AND LATCHES, BY VERTICAL, 2022–2027 (USD MILLION) 61
6.5 KNOB LOCKS 62
6.5.1 GROWING USE OF KNOB LOCKS WITH DEADBOLTS ON EXTERIOR DOORS IN RESIDENTIAL SECTOR TO DRIVE MARKET GROWTH 62
TABLE 11 SMART LOCK MARKET FOR KNOB LOCKS, BY VERTICAL,
2018–2021 (USD MILLION) 62
TABLE 12 SMART LOCK MARKET FOR KNOB LOCKS, BY VERTICAL,
2022–2027 (USD MILLION) 62
6.6 OTHERS 63
TABLE 13 SMART LOCK MARKET FOR OTHERS, BY VERTICAL,
2018–2021 (USD MILLION) 63
TABLE 14 SMART LOCK MARKET FOR OTHERS, BY VERTICAL,
2022–2027 (USD MILLION) 63
7 SMART LOCK MARKET, BY COMMUNICATION PROTOCOL 64
7.1 INTRODUCTION 65
FIGURE 23 WI-FI COMMUNICATION PROTOCOL SEGMENT TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 65
TABLE 15 SMART LOCK MARKET, BY COMMUNICATION PROTOCOL,
2018–2021 (USD MILLION) 65
TABLE 16 SMART LOCK MARKET, BY COMMUNICATION PROTOCOL,
2022–2027 (USD MILLION) 66
7.2 WI-FI 66
7.2.1 CONNECTIVITY BENEFITS OFFERED BY WI-FI TO DRIVE MARKET GROWTH 66
7.3 BLUETOOTH 67
7.3.1 WIDE RANGE, LOW POWER CONSUMPTION, AND HIGH RELIABILITY AND BANDWIDTH FEATURES TO FUEL MARKET GROWTH 67
7.4 Z-WAVE 67
7.4.1 GROWING POPULARITY OF RELIABILITY AND HIGH-SPEED FEATURES OF Z-WAVE TO DRIVE MARKET GROWTH 67
7.5 OTHERS 67
7.5.1 ZIGBEE 67
7.5.2 THREAD 67
7.5.3 NFC 67
8 SMART LOCK MARKET, BY UNLOCKING MECHANISM 68
8.1 INTRODUCTION 69
FIGURE 24 KEYPAD UNLOCKING MECHANISM SEGMENT TO HOLD LARGEST SHARE OF SMART LOCK MARKET IN 2027 69
TABLE 17 SMART LOCK MARKET, BY UNLOCKING MECHANISM,
2018–2021 (USD MILLION) 69
TABLE 18 SMART LOCK MARKET, BY UNLOCKING MECHANISM,
2022–2027 (USD MILLION) 70
8.2 KEYPAD 70
8.2.1 INTEGRATION OF KEYPADS WITH ACCESS CONTROL SYSTEMS TO DRIVE MARKET GROWTH 70
8.3 CARD KEY 71
8.3.1 GROWING USE OF RADIO FREQUENCY IDENTIFICATION (RFID) MAGNETIC DOOR LOCKS IN COMMERCIAL OFFICE BUILDINGS TO DRIVE MARKET GROWTH 71
8.3.1.1 Low frequency 71
8.3.1.2 High frequency 71
8.3.1.3 Ultra-high frequency 71
 
8.4 TOUCH BASED 72
8.4.1 GROWING ADOPTION OF AUTOMATED FINGERPRINT IDENTIFICATION SYSTEMS (AFISS) TO FUEL DEMAND FOR FINGERPRINT RECOGNITION SOLUTIONS USED IN SMART LOCK MECHANISM 72
8.5 KEY FOBS 73
8.5.1 RISE IN REPLACEMENT OF OLD METAL KEY SYSTEMS WITH ELECTRONIC FOB SYSTEMS TO DRIVE MARKET GROWTH 73
8.6 SMARTPHONE BASED 73
8.6.1 GROWING ADOPTION OF SMART HOMES TO INCREASE DEMAND FOR SMARTPHONE-BASED DOOR LOCKING SYSTEMS 73
9 SMART LOCK MARKET, BY VERTICAL 74
9.1 INTRODUCTION 75
FIGURE 25 RESIDENTIAL VERTICAL TO HOLD LARGEST MARKET SHARE DURING FORECAST PERIOD 75
TABLE 19 SMART LOCK MARKET, BY VERTICAL, 2018–2021 (USD MILLION) 75
TABLE 20 SMART LOCK MARKET, BY VERTICAL, 2022–2027 (USD MILLION) 76
9.2 COMMERCIAL 76
9.2.1 HOSPITALITY 76
9.2.1.1 Increasing adoption of smart locks in hotels, vacation rental properties, resorts, casinos, and cruise ships to boost market growth 76
9.2.2 RETAIL STORES AND MALLS 77
9.2.2.1 Retail stores and malls segment to witness healthy growth in smart lock market 77
9.2.3 HEALTHCARE 77
9.2.3.1 Growing use of smart locks in healthcare sector to ensure access only to authorized users to boost market growth 77
9.2.4 BANKS AND FINANCIAL CENTRES 77
9.2.4.1 Increasing trend of biometric and multifactor authentication in banking and financial institutions to drive market growth 77
9.2.5 ENTERPRISES AND DATA CENTRES 78
9.2.5.1 Rising demand for security smart cards and biometric access systems to prevent minor security risks in enterprises to drive market growth 78
TABLE 21 SMART LOCK MARKET, BY COMMERCIAL VERTICAL,
2018–2021 (USD MILLION) 78
TABLE 22 SMART LOCK MARKET, BY COMMERCIAL VERTICAL,
2022–2027 (USD MILLION) 78
TABLE 23 SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY REGION,
2018–2021 (USD MILLION) 79
TABLE 24 SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY REGION,
2022–2027 (USD MILLION) 79
TABLE 25 NORTH AMERICA: SMART LOCK MARKET FOR COMMERCIAL VERTICAL,
BY COUNTRY, 2018–2021 (USD MILLION) 79
TABLE 26 NORTH AMERICA: SMART LOCK MARKET FOR COMMERCIAL VERTICAL,
BY COUNTRY, 2022–2027 (USD MILLION) 80
TABLE 27 EUROPE: SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 80
TABLE 28 EUROPE: SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 80
TABLE 29 APAC: SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 81
TABLE 30 APAC: SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 81
TABLE 31 ROW: SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY REGION, 2018–2021 (USD MILLION) 81
TABLE 32 ROW: SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY REGION, 2022–2027 (USD MILLION) 82
TABLE 33 SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY LOCK TYPE,
2018–2021 (USD MILLION) 82
TABLE 34 SMART LOCK MARKET FOR COMMERCIAL VERTICAL, BY LOCK TYPE,
2022–2027 (USD MILLION) 82
9.3 RESIDENTIAL 83
9.3.1 CONDOMINIUM 83
9.3.1.1 Growing use of smart locks in condominiums or multi-family apartments to prevent invasion, unauthorized access, theft, and burglary to drive market growth 83
9.3.2 INDIVIDUAL HOUSES 83
9.3.2.1 Rising adoption of smart locks by individual house owners to ensure security and safety to drive market growth 83
FIGURE 26 CONDOMINIUM SEGMENT TO HOLD LARGER SHARE OF SMART LOCK MARKET FOR RESIDENTIAL VERTICAL DURING FORECAST PERIOD 83
TABLE 35 SMART LOCK MARKET FOR RESIDENTIAL VERTICAL,
2018–2021 (USD MILLION) 84
TABLE 36 SMART LOCK MARKET FOR RESIDENTIAL VERTICAL,
2022–2027 (USD MILLION) 84
FIGURE 27 APAC TO REGISTER HIGHEST CAGR IN SMART LOCK FOR RESIDENTIAL VERTICAL DURING FORECAST PERIOD 84
TABLE 37 SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY REGION,
2018–2021 (USD MILLION) 85
TABLE 38 SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY REGION,
2022–2027 (USD MILLION) 85
TABLE 39 NORTH AMERICA: SMART LOCK MARKET FOR RESIDENTIAL VERTICAL,
BY COUNTRY, 2018–2021 (USD MILLION) 85
TABLE 40 NORTH AMERICA: SMART LOCK MARKET FOR RESIDENTIAL VERTICAL,
BY COUNTRY, 2022–2027 (USD MILLION) 86
TABLE 41 EUROPE: SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 86
TABLE 42 EUROPE: SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 86
TABLE 43 APAC: SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 87
TABLE 44 APAC: SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 87
TABLE 45 ROW: SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY REGION,
2018–2021 (USD MILLION) 87
TABLE 46 ROW: SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY REGION,
2022–2027 (USD MILLION) 88
TABLE 47 SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY LOCK TYPE,
2018–2021 (USD MILLION) 88
TABLE 48 SMART LOCK MARKET FOR RESIDENTIAL VERTICAL, BY LOCK TYPE,
2022–2027 (USD MILLION) 88
9.4 INSTITUTIONAL & GOVERNMENT 89
9.4.1 INCREASING DEMAND FOR SMART LOCKS IN GOVERNMENT VERTICAL TO RESTRICT UNAUTHORIZED ENTRIES TO DRIVE MARKET GROWTH 89
TABLE 49 SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL,
BY REGION, 2018–2021 (USD MILLION) 89
TABLE 50 SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL,
BY REGION, 2022–2027 (USD MILLION) 89
TABLE 51 NORTH AMERICA: SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 90
TABLE 52 NORTH AMERICA: SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 90
TABLE 53 EUROPE: SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 90
TABLE 54 EUROPE: SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 91
TABLE 55 APAC: SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 91
TABLE 56 APAC: SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 91
TABLE 57 ROW: SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL, BY REGION, 2018–2021 (USD MILLION) 92
TABLE 58 ROW: SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL, BY REGION, 2022–2027 (USD MILLION) 92
TABLE 59 SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL,
BY LOCK TYPE, 2018–2021 (USD MILLION) 92
TABLE 60 SMART LOCK MARKET FOR INSTITUTIONAL & GOVERNMENT VERTICAL,
BY LOCK TYPE, 2022–2027 (USD MILLION) 93
9.5 TRANSPORTATION & LOGISTICS 93
9.5.1 RISING ADOPTION OF BIOMETRICS-BASED ACCESS CONTROL USING SMART LOCKS BY AIRPORT OPERATORS TO DRIVE MARKET GROWTH 93
TABLE 61 SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL,
BY REGION, 2018–2021 (USD MILLION) 93
TABLE 62 SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL,
BY REGION, 2022–2027 (USD MILLION) 94
TABLE 63 NORTH AMERICA: SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 94
TABLE 64 NORTH AMERICA: SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 94
TABLE 65 EUROPE: SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 95
TABLE 66 EUROPE: SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 95
TABLE 67 APAC: SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 95
TABLE 68 APAC: SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 96
TABLE 69 ROW: SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL, BY REGION, 2018–2021 (USD MILLION) 96
TABLE 70 ROW: SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL, BY REGION, 2022–2027 (USD MILLION) 96
TABLE 71 SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL,
BY LOCK TYPE, 2018–2021 (USD MILLION) 97
TABLE 72 SMART LOCK MARKET FOR TRANSPORTATION & LOGISTICS VERTICAL,
BY LOCK TYPE, 2022–2027 (USD MILLION) 97
9.6 INDUSTRIAL 98
9.6.1 MANUFACTURING 98
9.6.1.1 Increased need for protecting people and properties across manufacturing sites to create growth opportunities for market players 98
9.6.2 OIL & GAS 98
9.6.2.1 Ability of smart locks to provide suitable and enhanced security to fuel their demand in oil & gas vertical 98
9.6.3 ENERGY & POWER 98
9.6.3.1 Rising demand for smart locks in energy and power vertical to prevent unauthorized access to drive market growth 98
TABLE 73 SMART LOCK MARKET FOR INDUSTRIAL VERTICAL,
2018–2021 (USD MILLION) 98
TABLE 74 SMART LOCK MARKET FOR INDUSTRIAL VERTICAL,
2022–2027 (USD MILLION) 99
TABLE 75 SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY REGION,
2018–2021 (USD MILLION) 99
TABLE 76 SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY REGION,
2022–2027 (USD MILLION) 99
TABLE 77 NORTH AMERICA: SMART LOCK MARKET FOR INDUSTRIAL VERTICAL,
BY COUNTRY, 2018–2021 (USD MILLION) 100
TABLE 78 NORTH AMERICA: SMART LOCK MARKET FOR INDUSTRIAL VERTICAL,
BY COUNTRY, 2022–2027 (USD MILLION) 100
TABLE 79 EUROPE: SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 100
TABLE 80 EUROPE: SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 101
TABLE 81 APAC: SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY COUNTRY, 2018–2021 (USD MILLION) 101
TABLE 82 APAC: SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY COUNTRY, 2022–2027 (USD MILLION) 101
TABLE 83 ROW: SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY REGION,
2018–2021 (USD MILLION) 102
TABLE 84 ROW: SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY REGION,
2022–2027 (USD MILLION) 102
TABLE 85 SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY LOCK TYPE,
2018–2021 (USD MILLION) 102
TABLE 86 SMART LOCK MARKET FOR INDUSTRIAL VERTICAL, BY LOCK TYPE,
2022–2027 (USD MILLION) 103
10 SMART LOCK MARKET, BY REGION 104
10.1 INTRODUCTION 105
FIGURE 28 APAC TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD 105
TABLE 87 SMART LOCK MARKET, BY REGION, 2018–2021 (USD MILLION) 105
TABLE 88 SMART LOCK MARKET, BY REGION, 2022–2027 (USD MILLION) 106
10.2 NORTH AMERICA 106
FIGURE 29 NORTH AMERICA MARKET SNAPSHOT 107
TABLE 89 SMART LOCK MARKET IN NORTH AMERICA, BY COUNTRY,
2018–2021 (USD MILLION) 107
TABLE 90 SMART LOCK MARKET IN NORTH AMERICA, BY COUNTRY,
2022–2027 (USD MILLION) 108
TABLE 91 SMART LOCK MARKET IN NORTH AMERICA, BY VERTICAL,
2018–2021 (USD MILLION) 108
TABLE 92 SMART LOCK MARKET IN NORTH AMERICA, BY VERTICAL,
2022–2027 (USD MILLION) 108
TABLE 93 SMART LOCK MARKET IN US, BY VERTICAL, 2018–2021 (USD MILLION) 109
TABLE 94 SMART LOCK MARKET IN US, BY VERTICAL, 2022–2027 (USD MILLION) 109
TABLE 95 SMART LOCK MARKET IN CANADA, BY VERTICAL, 2018–2021 (USD MILLION) 109
TABLE 96 SMART LOCK MARKET IN CANADA, BY VERTICAL, 2022–2027 (USD MILLION) 110
TABLE 97 SMART LOCK MARKET IN MEXICO, BY VERTICAL, 2018–2021 (USD MILLION) 110
TABLE 98 SMART LOCK MARKET IN MEXICO, BY VERTICAL, 2022–2027 (USD MILLION) 110
10.2.1 US 111
10.2.1.1 US to hold largest share of North American smart lock market 111
10.2.2 CANADA 111
10.2.2.1 Growing awareness regarding internet-based safety and security to drive growth of smart lock market in Canada 111
10.2.3 MEXICO 111
10.2.3.1 Mexico to be lucrative market for smart locks 111
10.3 EUROPE 111
FIGURE 30 EUROPE MARKET SNAPSHOT 112
TABLE 99 SMART LOCK MARKET IN EUROPE, BY COUNTRY, 2018–2021 (USD MILLION) 112
TABLE 100 SMART LOCK MARKET IN EUROPE, BY COUNTRY, 2022–2027 (USD MILLION) 113
TABLE 101 SMART LOCK MARKET IN EUROPE, BY VERTICAL, 2018–2021 (USD MILLION) 113
TABLE 102 SMART LOCK MARKET IN EUROPE, BY VERTICAL, 2022–2027 (USD MILLION) 113
TABLE 103 SMART LOCK MARKET IN UK, BY VERTICAL, 2018–2021 (USD MILLION) 114
TABLE 104 SMART LOCK MARKET IN UK, BY VERTICAL, 2022–2027 (USD MILLION) 114
TABLE 105 SMART LOCK MARKET IN GERMANY, BY VERTICAL,
2018–2021 (USD MILLION) 114
TABLE 106 SMART LOCK MARKET IN GERMANY, BY VERTICAL,
2022–2027 (USD MILLION) 115
TABLE 107 SMART LOCK MARKET IN FRANCE, BY VERTICAL, 2018–2021 (USD MILLION) 115
TABLE 108 SMART LOCK MARKET IN FRANCE, BY VERTICAL, 2022–2027 (USD MILLION) 115
TABLE 109 SMART LOCK MARKET IN REST OF EUROPE, BY VERTICAL,
2018–2021 (USD MILLION) 116
TABLE 110 SMART LOCK MARKET IN REST OF EUROPE, BY VERTICAL,
2022–2027 (USD MILLION) 116
10.3.1 UK 116
10.3.1.1 Decline in cost of mobile broadband connection and increasing adoption of cloud infrastructure to boost demand for smart locks in UK 116
10.3.2 GERMANY 117
10.3.2.1 Growing adoption of internet-based security systems in various applications to drive market growth in Germany 117
10.3.3 FRANCE 117
10.3.3.1 Growing awareness regarding internet-based home security solutions and rising adoption of wireless portable consumer electronics to drive market growth in France 117
10.3.4 REST OF EUROPE 117
10.4 APAC 117
FIGURE 31 APAC MARKET SNAPSHOT 118
FIGURE 32 CHINA TO HOLD LARGEST SHARE OF APAC SMART LOCK MARKET DURING FORECAST PERIOD 119
TABLE 111 SMART LOCK MARKET IN APAC, BY COUNTRY, 2018–2021 (USD MILLION) 119
TABLE 112 SMART LOCK MARKET IN APAC, BY COUNTRY, 2022–2027 (USD MILLION) 119
TABLE 113 SMART LOCK MARKET IN APAC, BY VERTICAL, 2018–2021 (USD MILLION) 120
TABLE 114 SMART LOCK MARKET IN APAC, BY VERTICAL, 2022–2027 (USD MILLION) 120
TABLE 115 SMART LOCK MARKET IN CHINA, BY VERTICAL, 2018–2021 (USD MILLION) 120
TABLE 116 SMART LOCK MARKET IN CHINA, BY VERTICAL, 2022–2027 (USD MILLION) 121
TABLE 117 SMART LOCK MARKET IN JAPAN, BY VERTICAL, 2018–2021 (USD MILLION) 121
TABLE 118 SMART LOCK MARKET IN JAPAN, BY VERTICAL, 2022–2027 (USD MILLION) 121
TABLE 119 SMART LOCK MARKET IN SOUTH KOREA, BY VERTICAL,
2018–2021 (USD MILLION) 122
TABLE 120 SMART LOCK MARKET IN SOUTH KOREA, BY VERTICAL,
2022–2027 (USD MILLION) 122
TABLE 121 SMART LOCK MARKET IN INDIA, BY VERTICAL, 2018–2021 (USD MILLION) 122
TABLE 122 SMART LOCK MARKET IN INDIA, BY VERTICAL, 2022–2027 (USD MILLION) 123
TABLE 123 SMART LOCK MARKET IN REST OF APAC, BY VERTICAL,
2018–2021 (USD MILLION) 123
TABLE 124 SMART LOCK MARKET IN REST OF APAC, BY VERTICAL,
2022–2027 (USD MILLION) 123
10.4.1 CHINA 124
10.4.1.1 Increasing industrialization to fuel demand for smart lock systems in China 124
10.4.2 JAPAN 124
10.4.2.1 Rapid industrialization and modernization to create lucrative opportunities for market players in Japan 124
10.4.3 SOUTH KOREA 124
10.4.3.1 Rising demand for remotely managed and connected security devices to drive market growth in South Korea 124
10.4.4 INDIA 125
10.4.4.1 Rise in terrorist activities, crime rate, and data and security breaches to fuel demand for security and safety systems 125
10.4.5 REST OF APAC 125
10.5 ROW 125
TABLE 125 SMART LOCK MARKET IN ROW, BY COUNTRY, 2018–2021 (USD MILLION) 125
TABLE 126 SMART LOCK MARKET IN ROW, BY COUNTRY, 2022–2027 (USD MILLION) 126
TABLE 127 SMART LOCK MARKET IN ROW, BY VERTICAL, 2018–2021 (USD MILLION) 126
TABLE 128 SMART LOCK MARKET IN ROW, BY VERTICAL, 2022–2027 (USD MILLION) 126
TABLE 129 SMART LOCK MARKET IN MIDDLE EAST & AFRICA, BY VERTICAL,
2018–2021 (USD MILLION) 127
TABLE 130 SMART LOCK MARKET IN MIDDLE EAST & AFRICA, BY VERTICAL,
2022–2027 (USD MILLION) 127
TABLE 131 SMART LOCK MARKET IN SOUTH AMERICA, BY VERTICAL,
2018–2021 (USD MILLION) 127
TABLE 132 SMART LOCK MARKET IN SOUTH AMERICA, BY VERTICAL,
2022–2027 (USD MILLION) 128
10.5.1 MIDDLE EAST & AFRICA 128
10.5.1.1 Rising urbanization and increased adoption of IoT-based solutions to boost market growth 128
10.5.2 SOUTH AMERICA 128
10.5.2.1 Growing industrialization to create lucrative opportunities for players in South American market 128
11 COMPETITIVE LANDSCAPE 129
11.1 OVERVIEW 129
11.2 MARKET EVALUATION FRAMEWORK 129
TABLE 133 OVERVIEW OF STRATEGIES DEPLOYED BY KEY SMART LOCK PROVIDERS 129
11.2.1 PRODUCT PORTFOLIO 130
11.2.2 REGIONAL FOCUS 130
11.2.3 MANUFACTURING FOOTPRINT 130
11.2.4 ORGANIC/INORGANIC GROWTH STRATEGIES 130
11.3 REVENUE ANALYSIS OF LEADING PLAYERS (2017–2021) 130
FIGURE 33 5-YEAR REVENUE ANALYSIS OF LEADING PLAYERS IN SMART LOCK MARKET 130
11.4 MARKET SHARE ANALYSIS: SMART LOCK MARKET, 2021 131
TABLE 134 DEGREE OF COMPETITION 131
11.5 COMPANY EVALUATION MATRIX 132
11.5.1 STAR 132
11.5.2 EMERGING LEADER 132
11.5.3 PERVASIVE 132
11.5.4 PARTICIPANT 132
FIGURE 34 COMPANY EVALUATION MATRIX, 2021 133
11.6 COMPETITIVE SITUATIONS AND TRENDS 134
11.6.1 PRODUCT LAUNCHES 134
TABLE 135 PRODUCT LAUNCHES, JANUARY 2020–NOVEMBER 2021 134
11.6.2 DEALS 135
TABLE 136 DEALS, JANUARY 2020–FEBRUARY 2022 135
12 COMPANY PROFILES 139
(Business Overview, Products Offered, Recent Developments, MnM View Right to win, Strategic choices made, Weaknesses and competitive threats) *
12.1 INTRODUCTION 139
12.2 KEY PLAYERS 139
12.2.1 ASSA ABLOY 139
TABLE 137 ASSA ABLOY: BUSINESS OVERVIEW 139
FIGURE 35 ASSA ABLOY: COMPANY SNAPSHOT 140
TABLE 138 ASSA ABLOY: PRODUCT/SOLUTION/SERVICE OFFERINGS 141
TABLE 139 ASSA ABLOY: DEALS 141
12.2.2 DORMAKABA 144
TABLE 140 DORMAKBA: BUSINESS OVERVIEW 144
FIGURE 36 DORMAKABA: COMPANY SNAPSHOT 145
TABLE 141 DORMAKABA: PRODUCT/SOLUTION/SERVICE OFFERINGS 145
TABLE 142 DORMAKABA: DEALS 146
TABLE 143 DORMAKABA: OTHERS 147
12.2.3 SPECTRUM BRANDS 148
TABLE 144 SPECTRUM BRANDS: BUSINESS OVERVIEW 148
FIGURE 37 SPECTRUM BRANDS: COMPANY SNAPSHOT 149
TABLE 145 SPECTRUM BRANDS: PRODUCT/SOLUTION/SERVICE OFFERINGS 149
TABLE 146 SPECTRUM BRANDS: PRODUCT LAUNCHES 150
12.2.4 SALTO SYSTEMS 152
TABLE 147 SALTO SYSTEMS: BUSINESS OVERVIEW 152
TABLE 148 SALTO SYSTEMS: PRODUCT/SOLUTION/SERVICE OFFERINGS 152
TABLE 149 SALTO SYSTEMS: PRODUCT LAUNCHES 153
TABLE 150 SALTO SYSTEMS: DEALS 153
TABLE 151 SALTO SYSTEMS: OTHERS 154
12.2.5 ALLEGION 155
TABLE 152 ALLEGION: BUSINESS OVERVIEW 155
FIGURE 38 ALLEGION: COMPANY SNAPSHOT 155
TABLE 153 ALLEGION: PRODUCT/SOLUTION/SERVICE OFFERINGS 156
TABLE 154 ALLEGION: PRODUCT LAUNCHES 156
TABLE 155 ALLEGION: DEALS 157
12.2.6 HONEYWELL 159
TABLE 156 HONEYWELL: BUSINESS OVERVIEW 159
FIGURE 39 HONEYWELL: COMPANY SNAPSHOT 160
TABLE 157 HONEYWELL: PRODUCT/SOLUTION/SERVICE OFFERINGS 160
12.2.7 DAHUA TECHNOLOGY 161
TABLE 158 DAHUA TECHNOLOGY: BUSINESS OVERVIEW 161
FIGURE 40 DAHUA TECHNOLOGY: COMPANY SNAPSHOT 162
TABLE 159 DAHUA TECHNOLOGY: PRODUCT/SOLUTION/SERVICE OFFERINGS 163
TABLE 160 DAHUA TECHNOLOGY: PRODUCT LAUNCHES 163
12.2.8 SAMSUNG 164
TABLE 161 SAMSUNG: BUSINESS OVERVIEW 164
FIGURE 41 SAMSUNG: COMPANY SNAPSHOT 165
TABLE 162 SAMSUNG: PRODUCT/SOLUTION/SERVICE OFFERINGS 165
TABLE 163 SAMSUNG: OTHERS 166
12.2.9 VIVINT 167
TABLE 164 VIVINT: BUSINESS OVERVIEW 167
FIGURE 42 VIVINT: COMPANY SNAPSHOT 167
TABLE 165 VIVINT: PRODUCT/SOLUTION/SERVICE OFFERINGS 168
TABLE 166 VIVINT: DEALS 168
12.2.10 ZKTECO 169
TABLE 167 ZKTECO: BUSINESS OVERVIEW 169
TABLE 168 ZKTECO: PRODUCT/SOLUTION/SERVICE OFFERINGS 169
TABLE 169 ZKTECO: DEALS 170
12.3 OTHER KEY PLAYERS 171
12.3.1 IGLOOCOMPANY 171
12.3.2 REMOTELOCK 172
12.3.3 ONITY 172
12.3.4 MASTER LOCK 173
12.3.5 MIWA LOCK 174
12.3.6 SENTRILOCK 175
12.3.7 AVENT SECURITY 175
12.3.8 HAVENLOCK 177
12.3.9 SHENZHEN VIANS ELECTRONIC LOCK 178
12.3.10 ANVIZ GLOBAL 178
12.3.11 CANDY HOUSE 179
12.3.12 AMADAS 179
12.3.13 KEYWE 180
12.3.14 GATE LABS 180
12.3.15 DESSMANN SCHLIESSANLAGEN 181
*Details on Business Overview, Products Offered, Recent Developments, MnM View, Right to win, Strategic choices made, Weaknesses and competitive threats might not be captured in case of unlisted companies.
 
13 APPENDIX 182
13.1 DISCUSSION GUIDE 182
13.2 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 185
13.3 AVAILABLE CUSTOMIZATIONS 187
13.4 RELATED REPORTS 187
13.5 AUTHOR DETAILS 188