Dublin, Aug. 08, 2024 (GLOBE NEWSWIRE) -- The "LED Lighting - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for LED Lighting is estimated at US$58.6 Billion in 2023 and is projected to reach US$94.0 Billion by 2030, growing at a CAGR of 7.0% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
The growth in the LED lighting market is driven by several factors, vital for understanding its expanding role in global markets. Technological advancements that enhance the efficiency and applicability of LED solutions are crucial, catering to a wider range of industrial, commercial, and residential needs.
Economic factors, such as the decreasing cost of LED production, make these solutions more accessible to a broader market, accelerating adoption rates. Consumer awareness of environmental issues and sustainability is also a significant driver, as more individuals and organizations opt for greener alternatives.
Additionally, government policies and incentives that promote energy-efficient technologies further stimulate the LED market. The integration of LEDs into emerging tech areas like smart cities and IoT devices offers new opportunities for growth, highlighting the dynamic and evolving nature of the LED lighting industry. These factors collectively ensure the continued expansion and relevance of LED lighting in addressing modern energy and environmental challenges.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the LED Lamps segment, which is expected to reach US$36.3 Billion by 2030 with a CAGR of a 7.7%. The LED Luminaires segment is also set to grow at 6.6% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $9.4 Billion in 2023, and China, forecasted to grow at an impressive 8.5% CAGR to reach $17.7 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Acuity Brands Lighting Inc., Cree Lighting, Dialight PLC, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 737 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $58.6 Billion |
| Forecasted Market Value (USD) by 2030 | $94 Billion |
| Compound Annual Growth Rate | 7.0% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- LED Lighting - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
- LED Lighting: An Introduction
- Market Facts
- LED and Other Lighting Technologies: A Comparison
- LED's Longevity and Digital Connectivity to Aid Lighting Industry Achieve Sustainability
- Key Drivers for LED Lighting Demand
- Adoption of Energy-Efficient Lighting Options
- Supportive Policies and Regulations
- Growing Significance of Energy-Efficient Certifications
- Non-Residential Buildings: Key Growth Areas for LED Lighting Manufacturers
- Emphasis on Achieving Energy and Cost Savings amidst Spiraling Electricity Consumption: The Fundamental Growth Driver
- Market Outlook
- industrial Commercial LED Lighting Market to Witness Strong Growth
- Emerging Markets Lead Growth Prospects
- LED Luminaires: The Leading Segment
- Leading LED Producing Countries Worldwide
- China: Largest LED Producer Worldwide
- Competition
- LED Lighting Marketplace: Highly Competitive and Fragmented
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Smart Intelligent LED Lighting Catalyze Growth Prospects
- Li-Fi to Emerge as Game Changer
- Growing Number of Smart Homes Create Significant Demand
- Smart Cities Drive Installation of Smart & Connected Lighting Systems
- Smart Street Lighting
- LED Chips Offering Higher Lumens per Watt and More Savings Drive Demand in Industrial Applications
- Rise in Integration of LED Lighting in Industrial Automation
- LED Components Witnessing Continued Advancements to Result in Increased Growth for LED Lighting Market
- LED Grows as the Preferred Medium of Lighting in Horticulture
- Growing Focus on Tourism Drives Demand for Architectural and Landscape Lighting
- Organic LEDs (OLEDs): The Future Growth Avenue
- Exceptional Color Rendering of LEDs Spurs Penetration in the Retail Display Segment
- Increasing Adoption of LEDs in Innovative Niche Lighting Markets Favor Market Expansion
- Focus of SSL Technology Augurs Well for the Market
- Favorable Demographic Trends Strengthens Market Prospects
- Rise in Urbanization Drive Development of Higher Quality, More Efficient, and Longer Lasting LED Solutions
- Burgeoning Middle Class Population
- Select Product Innovations and Developments
FOCUS ON SELECT PLAYERS(Total 190 Featured)
- Acuity Brands Lighting Inc.
- Cree Lighting
- Dialight PLC
- Digital Lumens, Inc.
- Hubbell Incorporated
- LSI Industries Inc.
- Osram Licht AG
- Surya Roshni Ltd.
- Signify
- Wipro Lighting
- Zumtobel Lighting GmbH
For more information about this report visit https://www.researchandmarkets.com/r/p18yp3
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