The IMARC Group provides extensive analysis of the LED lighting industry covering the market trends, investment opportunities, growth trends, statistics, and industry prospects. The report offers a comprehensive analysis of the industry, which comprises insights on LED lighting market size, share, trends, analysis, growth, demand, statistics, and overview. The report also includes competitor and regional analysis, and contemporary advancements in the global market.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report. The market is segmented by size and region. The report provides an analysis of the key trends in each sub-segment of the market, along with forecasts at the global and regional level from 2022-2027. The report also includes competitive landscape of major key players in the industry along with emerging trends in the market.
Informed covered in the report:
- Historical market data from 2016-2021
- CAGR of the market during the forecast period 2022-2027
- Detailed information on factors that will drive market growth during the next five years
- Precise estimation of the Keyword market size and its contribution to the parent market
- Upcoming market trends and changes in consumer behavior
- A thorough analysis of the market’s competitive landscape and detailed information on key players
- Comprehensive details of factors that will challenge the growth of smart meters market key players
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The global LED lighting market reached a value of US$ 68.8 Billion in 2021. A light-emitting diode (LED) is an electroluminescence device that emits light by combining electrons and holes within the semiconductor materials. It has become one of the most energy-efficient and rapidly developing lighting technology. The lights offer several advantages over traditional lighting solutions, such as reliability and higher efficiency. They consume less energy to illuminate the area and are extensively utilized in decorative lights, remote-control circuits, and fluorescent light applications.
LED Lighting Market Trends:
The escalating consumer demand for energy-efficient lighting systems and the increasing environmental consciousness represent the key factors driving the LED lighting market growth. Additionally, the increasing awareness regarding the cost-effectiveness of LED lighting, the increasing penetration of LED lighting across the residential sector, and stringent regulatory policies regarding sustainable energy consumption are factors boosting the market growth. Apart from this, the significant boost in the infrastructural activities, rapidly expanding automotive industry, and declining prices of LED products are creating a positive outlook for the market. Looking forward, IMARC Group expects the LED lighting market to reach US$ 121.2 Billion by 2027, exhibiting at a CAGR of 10% during 2022-2027.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Nichia
- Osram
- Samsung Electronics
- Everlight Electronics
- LG Innotek
Market Segmentation:
Global LED Lighting Market Drivers:
- As LED lights contain zero toxic elements and are eco-friendly in nature, their demand is being influenced by initiatives and policies by the governments of several countries introduced for environmental protection and energy conservation.
- Currently, the price of electricity in several developing countries is rising due to the growing demand-supply gap. On account of this, consumers are shifting towards energy-efficient lighting sources such as LED lights.
- LED lights are now widely being used in automotive, general lighting, mobile devices, signal and signage, healthcare, forensic, academics and street lighting, which is providing a boost to the growth of the market.
- In order to widen their consumer-base, manufacturers are not only coming up with different LED lighting products, but are also investing in marketing through newspapers, televisions, etc. This is increasing product awareness among the consumers which, in turn, is strengthening the growth of the market.
Breakup by Application:
- Retrofit
- Retail
- Hospitality
- Outdoor
- Offices
- Architectural
- Homes
- Industry
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Others)
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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