This market research report includes a detailed segmentation of the global digital ballast market by geography and includes regions like APAC, Europe, North America, and ROW. The key vendors analyzed in this report are Soils Tek, Apollo Horticulture, Galaxy, and Quantum.
Technavio’s market research analysts estimate the global digital ballast market, to grow at a CAGR of around 12% between 2016 and 2020. The prospects for growth in this market will be driven by the advent of digital ballasts with adjustable voltages and light dimming capabilities. The ability of these devices to save energy, especially when compared to electrical ballasts, will result in its augmented adoption during the forecast period. North America leads the digital ballast market, owing to growing application in indoor farming.
The new market research report from Technavio provides a breakdown and analysis of the digital ballast segments by technology.
“One of the latest trends gaining prominence in the market is the rising demand for digital ballasts from plant factories. Plant factory, or vertical farming, involves a closed environment in which plants are grown under lights in stacked shelves. In the plant factories, grow lights are used to initiate the process of photosynthesis. Thus, with the increasing demand for food, more regions are expected to set up plant factories. This increase in the establishment of plant factories will result in the high demand for digital ballasts during the forecast period,” says Abhay Sinha, Lead Analyst, New Coverage, Technavio Research.
Digital ballasts are used in high-intensity discharge (HID) lighting lamps such as high-pressure sodium (HPS) and metal halide (MH) systems. Manufacturers have also developed digital ballasts with adjustable voltages and light-dimming capabilities. Low light output can be used during the initial stages of plant growth and the output can be increased as the plants grow. These devices help users save energy, since the light need not work on full capacity always.
The leading vendors in the global digital ballast market are Soils Tek, Apollo Horticulture, Galaxy, and Quantum. This market is competitive and consists of well-diversified global and regional vendors. However, as global players are increasing their footprint in the market, regional vendors are finding it increasingly difficult to compete with them in terms of quality, technology, and pricing.
A more detailed analysis is available in the Technavio report, Global Digital Ballast Market 2016-2020.
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