LED Lighting Market size to hit USD 118.09 Bn. by 2030 at a CAGR 9.5 percent – says Maximize Market Research
Maximize Market Research a leading Electronics research firm has published a market intelligence report on the Global LED Lighting Market. As per the report, the global LED Lighting Market was valued at USD 62.56 billion. From 2024 to 2030, LED Lighting revenue is projected to grow by 9.5%, reaching approximately USD 118.09 billion. LEDs, semiconductor devices, produce light when current flows through them, offering energy efficiency and lower power consumption compared to incandescent and fluorescent bulbs, driving market growth.
Market Size in 2023: USD 62.56 Billion
Market Size in 2030: USD 118.09 Billion
CAGR: 9.5 Percent
Forecast Period: 2024-2030
Base Year: 2023
Number of Pages: 257
No. of Tables: 129
No. of Charts and Figures: 188
Segment Covered: By Product.
Regional Scope: North America, Europe, Asia Pacific, Middle East and Africa, South America
Report Coverage: Market Share, Size and Forecast by Revenue | 2023−2030, Market Dynamics, Growth Drivers, Restraints, Investment Opportunities, and Key Trends, Competitive Landscape, Key Players Benchmarking, Competitive Analysis, MMR Competition Matrix, Competitive Leadership Mapping, Global Key Players’ Market Ranking Analysis.
LED Lighting Market Report Scope and Research Methodology
The research methodology employed in this LED Lighting Market report involved comprehensive analysis of various key aspects. Initially, we examined the current state and future potential of the LED Lighting sector, considering global trends and dynamics. Our approach encompassed quantitative and qualitative methods to analyze data sourced from reputable sources. To ensure accuracy and reliability, we cross-referenced findings and sought expert insights. Adhering to ethical standards, we verified and validated our research outcomes. The report covers market trends, major players, regional insights, and growth projections, offering valuable insights for stakeholders. This rigorous methodology supports informed decision-making and fosters sustainable energy advancements in the LED Lighting industry.
LED Lighting Market Overview
The LED lighting market has seen remarkable growth and fueled by rising demand for energy-efficient solutions. LED lights, consuming less energy than traditional options, are favored for residential and commercial use. Another growth catalyst is the surge in smart lighting demand, where LEDs integrate seamlessly with control systems for remote operation, brightness adjustments, and colour changes. This trend aligns with the increasing adoption of smart technology in homes and commercial spaces. As energy efficiency and smart capabilities drive consumer preferences and the LED lighting market is poised for continued rapid growth, catering to the evolving needs of both residential and commercial sectors.
LED Lighting Market Dynamics
The horticulture sector is witnessing a surge in LED lighting adoption and revolutionizing plant cultivation with its customizable benefits. LED lights, integrated into controlled environment agriculture (CEA) systems like greenhouses and vertical farms and offer tailored light spectra for optimal plant growth and yield. Precise spectral control influences crucial stages like flowering and fruiting, enhancing development. Additionally, LED lighting’s energy efficiency reduces consumption compared to traditional sources, making it sustainable and cost-effective for indoor farming. With its ability to mimic and enhance natural sunlight, LED lighting emerges as a pivotal technology driving innovation and productivity in the horticulture sector, promising significant growth for the LED Lighting Market.
LED Lighting Market Regional Insights
Rapid urbanization in the Asia-Pacific fuels demand for sustainable infrastructure and propelling the LED lighting market. Cities expanding across China, India, and Southeast Asia necessitate efficient lighting solutions. Rising incomes drive demand for quality products, while environmental concerns steer the shift towards eco-friendly LEDs. With China’s labor costs rising and the Rupee weakening, India emerges as a favourable manufacturing hub. Automation enhances competitiveness for exports, benefiting from India’s growing infrastructure and local demand. Smart city initiatives drive innovation, making Indian LED products preferred for export, especially to ASEAN nations. Establishing a Centre of Excellence in India fosters product development, boosting regional LED market growth and employment opportunities.
LED Lighting Market Segmentation
By Product
- Domestic Lighting
- Indoor
- Outdoor
- TFT Backlight
- Laptops
- Mobiles
- Televisions
- Mobile Flashlight
- Automotive Lighting
- Interior
- Exterior
- Indicator Lights
- Horticulture
- Digital Signage
The LED Lighting Market, segmented by application, includes Domestic, TFT Backlight, Mobile Flashlight, Automotive, Indicator, Horticulture, and Signage lighting. TFT Backlight leads, expected to maintain dominance. It caters to displays employing Thin-Film Transistor technology, enhancing image quality and energy efficiency. LEDs, surpassing CCFL, elongate battery life in portable devices.
LED Lighting Market Key Competitors include:
North America:
- SMART Global Holdings
- Principal LED
- ALLED Lighting Systems
- CRS Electronics
- Dals Lighting
Europe:
- Eaton Corporation Plc – Ireland
- Zumtobel Group AG – Austria
- dialight plc- united kingdom
- Phillips Lighting N.V – Netherlands
- OSRAM Licht AG – Germany
- Lumileds Lighting
- Collingwood Lighting
Asia Pacific:
- Toshiba Co – Japan
- Lite-On Technology – Taiwan
- Everlight Electronics – Taiwan
- Corvi LED Light
- Syska Group
- LEDified Lighting Corporation
- Toyoda Gosei Company
- MLS Company (China)
- Foshan Electrical and Lighting
- Shenzhen Liantronics
- CNLight Company
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Key questions answered in the Global LED Lighting Market are:
- What is the expected CAGR of the LED Lighting Market during the forecast period?
- What was the LED Lighting Market Size in 2023?
- What is the expected LED Lighting Market size in 2030?
- What are the global trends in the LED Lighting Market?
- What are the upcoming industry applications and trends for the LED Lighting Market?
- What recent industry trends can be implemented to generate additional revenue streams for the LED Lighting Market?
- What growth strategies are the players considering to increase their presence in the LED Lighting Market?
- What major challenges could the LED Lighting Market face in the future?
- Who held the largest market share in the LED Lighting Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2023)
- Past Pricing and price curve by region (2018 to 2023)
- Market Size, Share, Size & Forecast by Different Segment | 2023−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by Technology and Type.
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
Maximize Market Research is leading Electronics research firm, has also published the following reports:
Memory Integrated Circuits Market: The Memory Integrated Circuits Market size was valued at USD 7.43 Bn. in 2023 and the total Memory Integrated Circuits revenue is expected to grow by 6.8 % from 2024 to 2030, reaching nearly USD 11.78 Bn.
3D Semiconductor Packaging Market: The 3D Semiconductor Packaging Market size was valued at USD 10.7 Bn. in 2023 and the total 3D Semiconductor Packaging revenue is expected to grow by 15.5% from 2024 to 2030, reaching nearly USD 29.34 Bn.
About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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