Global LED Lighting Market 2024-2028
Global Led Lighting Market 2024-2028
The led lighting market is forecasted to grow by USD 41.5 bn during 2023-2028, accelerating at a CAGR of 8.08% during the forecast period. The report on the led lighting 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 market scenario, the latest trends and drivers, and the overall market environment. The market is driven by declining manufacturing cost of led lights, phasing out halogen, incandescent, fluorescent, and hid lamps, and need for led lighting in hazardous areas.
Technavio's led lighting market is segmented as below:
- By Application
- Residential
- Commercial
- Outdoor
- Industrial
- Others
- By Product
- Luminaries
- Lamps
- By Geographical Landscape
- APAC
- Europe
- North America
- Middle East and Africa
- South America
This study identifies the emergence of smart cities as one of the prime reasons driving the led lighting market growth during the next few years. Also, advances in automotive lighting systems and growing traction for intelligent lighting systems will lead to sizable demand in the market.
The report on the led lighting market covers the following areas:
- Led lighting market sizing
- Led lighting market forecast
- Led lighting market industry analysis
The 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 lighting market vendors that include Acuity Brands Inc., ams OSRAM AG, Bridgelux Inc., Dialight Plc, Digital Lumens Inc., Eaton Corp. Plc, Ennostar Inc., General Electric Co., GrowRay Lighting Technologies, Hubbell Inc., IDEAL INDUSTRIES Inc., Koninklijke Philips N.V., LSI Industries Inc., Lumileds Holding BV, OSRAM Licht AG, Panasonic Holdings Corp., Sharp Corp., Signify NV, SMART Global Holdings Inc., and Toyoda Gosei Co. Ltd.. Also, the led lighting 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.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by 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 research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.