LED Lighting Market Share Analysis, Size, Growth Trends, and Forecast To 2027

The LED Lighting Market is anticipated to gain a valuation of USD 111.20 billion by the end of 2027, growing from its valuation of USD 100.09 billion in 2019 at a CAGR of 1.83% throughout the projected period. The LED lighting market is predominantly driven by the increasing use of LED lights in the residents and business organizations. The cost-efficient and energy-saving features of the LED lighting are adding traction to the growth of the market.

LED, light-emitting diode, lights are incredibly energy efficient and product light 90 times more efficient as compared to incandescent light bulbs. The diodes directly convert the electrical energy into light energy, and they are primarily used in lamps as an alternative to incandescent light sources. The LED lighting market’s primary driving factor is the sustainable approach to energy conservation and the stringent energy policies globally. Additionally, the cost-effectiveness and reduced heat losses, and their efficiency in replacing incandescent light sources are adding to the demand for the market.
The COVID-19 pandemic has affected the LED Lighting market as it has caused disruptions in the global supply chains of the electronic components, delayed the manufacturing processes owing to the shutdowns of factories, and a decreased demand, thereby slowing down the growth of the market. However, the market is poised to regain momentum as stores, and commercial spaces have started reopening across the world.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1099

Further Key Findings from the Report Suggests:
• The LED Lighting Market is anticipated to gain a valuation of USD 111.20 billion by the end of 2027, growing from its valuation of USD 100.09 billion in 2019 at a CAGR of 1.83% throughout the projected period.
• The LED lighting market is predominantly driven by the increasing use of LED lights in the residents and business organizations. LED, light-emitting diode, lights are incredibly energy efficient and product light 90 times more efficiently as compared to incandescent light bulbs.
• The LED lighting market’s primary driving factor is the sustainable approach to energy conservation and the stringent energy-saving policies globally.
• Based on the type of LED lights, the luminaires segment is anticipated to register an increased demand and growth over the projected period. Luminaires are extensively applied for industrial and commercial lighting. Luminaries are predominantly used in streetlights, track lights, downlights, and for numerous other applications. They offer more light per power output, and their control is feasible, thereby driving the growth of the segment.
• Based on the installation type, the retrofit segment is presumed to grow at the highest rate due to its growing popularity in the residential sector. The retrofit technique enhances the features of technology and offers increased efficiency.
• Based on the utilization, the indoor segment held the largest share in 2019 and is anticipated to continue dominating the market over the projected period of 2020-2027. This can be attributed to the rising use of LED lights in places such as houses, offices, retail stores, malls, educational institutions, and hospitals, among others.
• Based on the regional analysis, Asia Pacific dominated the market in 2019 and is anticipated to hold a significant share over the coming years. This can be accredited to increasing initiatives undertaken by the governments of APAC countries for the large scale deployment of LEDs combined with the existence of prominent market players in the region.
• North America is anticipated to follow closely owing to rising R&D activities, increased usage of LEDs for commercial and industrial purposes, and partnerships of the prominent players to expand their presence in the market.
• Some of the prominent players of the Led Lighting market are Acuity Brands, Cree, Eaton, General Electric, Philips, Osram, Nichia Corporation, Seoul Semiconductors, Everlight Electronics, and Panasonic.

Request a discount on the report @ https://www.reportsanddata.com/discount-enquiry-form/1099

For the purpose of this study, Reports and Data has segmented the LED Lighting Market on the basis of type, installation, utilization, and region:
By Type (Revenue, USD Million; 2017-2027)
• Lamps
• Luminaires
By Installation (Revenue, USD Million; 2017-2027)
• New
• Retrofit
By Utilization (Revenue, USD Million; 2017-2027)
• Indoor
• Outdoor
By Region (Revenue, USD Million; 2017–2027)
• North America
o Canada
o U.S
o Mexico
• Europe
o Italy
o Germany
o U.K
o France
o Rest of Europe
• Asia Pacific
o India
o China
o South Korea
o Australia
o Rest of APAC
• Latin America
o Brazil
o Argentina
o Rest of LATAM
• Middle East & Africa
o Saudi Arabia
o South Africa
o U.A.E
o Rest of MEA

To know more about the report @ https://www.reportsanddata.com/report-detail/led-lighting-market

Key Questions Addressed in the Report:
• What is the expected revenue growth rate the global LED Lighting market is expected to register during the forecast period?
• What are the key growth driving factors of LED Lighting market?
• Who are the leading players in the market?
• What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis?
• Which region is expected to account for the largest market share in the global LED Lighting market over the forecast period?

Thank you for reading our report. To inquire about customization or any query about the report, please get in touch with us. Our team will make sure the report is best suited to your needs.

Explore Our Related Reports :

Starter Solenoid Market @ http://www.google.ca/url?q=https://www.reportsanddata.com/report-detail/starter-solenoid-market

USB to Serial Converter Market @ http://www.google.ca/url?q=https://www.reportsanddata.com/report-detail/usb-to-serial-converter-market

X-ray Fluorescene Coating Thichness Gauge Market @ http://www.google.ca/url?q=https://www.reportsanddata.com/report-detail/x-ray-fluorescene-coating-thichness-gauge-market

Digital Notepad Market @ http://www.google.ca/url?q=https://www.reportsanddata.com/report-detail/digital-notepad-market

Broadcast Switcher Market @ http://www.google.ca/url?q=https://www.reportsanddata.com/report-detail/broadcast-switcher-market

Contact Us:
John W
Head of Business Development
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
Reports and Data | Web: www.reportsanddata.com
News: www.reportsanddata.com/market-news

About Us:
Our in-house experts assist our clients with advice based on their proficiency in the market that helps them in creating a compendious database for the clients. Our team offers expert insights to clients to guide them through their business ventures. We put in rigorous efforts to keep our clientele satisfied and focus on fulfilling their demands to make sure that the end-product is what they desire. We excel in diverse fields of the market and with our services extending to competitive analysis, research and development analysis, and demand estimation among others, we can help you invest your funds in the most beneficial areas for research and development.

This release was published on openPR.