Global LED Market 2023-2027

Global LED Market 2023-2027

Technavio has been monitoring the LED market and it is poised to grow by $141.52 mn during 2023-2027, accelerating at a CAGR of 14.68% during the forecast period. Our report on the LED market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The growing adoption of energy-efficient lighting technologies, the enforcement of Minamata Convention on mercury, and the growing demand from the automotive sector drive the market.

Technavio's LED market is segmented as below:

By Product

• Luminaires
• Lamps

By Application

• General lighting
• Automotive lighting
• Backlight
• Others

By Geographical Landscape

• APAC
• Europe
• North America
• South America
• Middle East and Africa

This study identifies the growing traction of intelligent lighting systems as one of the prime reasons driving the LED market growth during the next few years. Also, new guidelines and government policies for smart lighting and the adoption of LED technology in printers will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the LED market covers the following areas:

• LED market sizing
• LED market forecast
• LED market industry analysis

Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading LED market vendors that include Acuity Brands Inc., ams OSRAM AG, Bridgelux Inc., Dialight Plc, Eaton Corp. Plc, Ennostar Inc., Everlight Electronics Co. Ltd., General Electric Co., Havells India Ltd., LITE ON Technology Corp., Lumileds Holding BV, Nichia Corp., Seoul Semiconductor Co. Ltd., Sharp Corp., SMART Global Holdings Inc., Toyoda Gosei Co. Ltd., WOOREE E and L, Zumtobel Group AG, Samsung Electronics Co. Ltd., and Signify NV. Also, the LED market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.