The global LED lighting market has witnessed tremendous growth over the past decade. LED or light emitting diode is a semiconductor device that emits light when an electric current is passed through it. LED lights have emerged as an energy efficient alternative to traditional incandescent and CFL bulbs. Factors, such as longer lifespan, lower power consumption, better physical robustness, and smaller size, have contributed to the growing popularity of LED lights globally. It is projected that LED lighting will account for over 50% of the total installed lighting capacity by 2030. Rapid urbanization coupled with initiatives to reduce carbon footprint through energy efficient lighting are boosting the adoption of LED lights across the residential, commercial, and industrial applications.

Market Dynamics:

The global LED lighting market is driven by factors such as growing environmental concerns, stringent regulations regarding energy consumption from traditional lighting, rising demand for lighting in construction, and connected infrastructure development projects. However, high initial costs associated with LED lights continues to restrain wider acceptance in price sensitive regions. On the positive side, ongoing technological advancements to increase luminous efficacy and reduce price points present key opportunities. Additionally, increased focus on smart cities and smart homes would further fuel next generation connected LED lighting systems worldwide over the coming years.

Key Features of the Study:

• This report provides in-depth analysis of the global LED lighting market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year.
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market.
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players.
• It profiles key players in the global LED lighting market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies.
• Key companies covered as a part of this study include Acuity Brands Lighting Inc., Cree Lighting, Dialight, Digital Lumens Inc., GE Lighting, Hubbell Incorporated, LumiGrow, LSI Industries Inc., Osram Licht AG, Panasonic Corporation, Philips Lighting, Samsung Electronics, Siteco GmbH, Toshiba Lighting & Technology Corporation, Zumtobel Group AG.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
• The global LED lighting market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global LED lighting market.

Detailed Segmentation:

• By Product Type
  • Lamps
    • A-Lamps
    • T-Lamps
    • Other
  • Luminaires
    • Streetlights
    • Downlights
    • Troffers
    • Others
• By Application
  • Indoor
  • Outdoor
•  By End-use
  • Commercial
  • Residential
  • Industrial
  • Others
• By Regional
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Key Players Insights
  • Acuity Brands Lighting Inc.
  • Cree Lighting
  • Dialight
  • Digital Lumens Inc.
  • GE Lighting
  • Hubbell Incorporated
  • LumiGrow
  • LSI Industries Inc.
  • Osram Licht AG
  • Panasonic Corporation
  • Philips Lighting
  • Samsung Electronics
  • Siteco GmbH
  • Toshiba Lighting & Technology Corporation
  • Zumtobel Group AG