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Indoor/Vertical Farms Set to Boom, LEDs Leading The Transition, Says Yole

The 2016 horticultural lighting market (i.e. system level) represented a business of about US$3.1 billion, representing approximately US$3.8 billion in 2017. But according to a recent report from market research firm Yole Développement, this market is set to grow rapidly at a 17.8% CAGR between 2016 and 2022, possibly reaching more than US$17 billion by 2027.

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