LED Lighting Market in North America 2022-2026

LED Lighting Market in North America 2022-2026

Technavio has been monitoring the LED lighting market in North America and it is poised to grow by $5.81 bn during 2022-2026, decelerating at a CAGR of 9.1% during the forecast period. Our report on the LED lighting market in North America 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, latest trends and drivers, and the overall market environment. The market is driven by the declining manufacturing cost of LED, the phase-out of incandescent bulbs in North American countries, and the growing number of households and urbanization.

The LED lighting market in North America analysis includes the application and product segments.

Technavio's LED lighting market in North America is segmented as below:

By Application

• Residential
• Commercial
• Industrial
• Outdoor
• Others

By Product

• LED lamps
• LED luminaires

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

Technavio 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. Our report on the LED lighting market in North America covers the following areas:

• LED lighting market sizing
• LED lighting market forecast
• LED lighting 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 lighting market vendors in North America that include Acuity Brands Inc., ams AG, Black Dog Grow Technologies Inc, Bridgelux Inc., Eaton Corp. Plc, EPISTAR Corp., General Electric Co., GrowRay Lighting Technologies, Kessil, Koninklijke Philips NV, LITE ON Technology Corp., LumiGrow Inc, Lumileds Holding BV, Sharp Corp., Signify NV, SMART Global Holdings Inc, Toyoda Gosei Co. Ltd., and Violet Gro Inc. Also, the LED lighting market in North America 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 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. 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.