LED Lighting Market 2022-2030: Growing Consumer Demand For Energy-Efficient Lighting Systems

The Global LED Lighting Market size is expected to reach USD 149.66 Billion in 2030 and register a revenue CAGR of 12.8% over the forecast period, according to latest report by Reports and Data. Increasing consumer demand for energy-efficient lighting systems due to their low replacement and maintenance costs is a key factor driving market revenue growth.

Increasing adoption of smart lighting is expected to boost revenue growth of the market during the forecast period. Smart lighting systems are unique electronic gadgets that can connect, share, and interact with users and other smart devices in the surrounding. Rising global population is leading to increase in need for smart cities and smart spaces for energy efficiency and cost-effectiveness, which in turn, is resulting in surge in the adoption of smart lighting. Smart lighting has a number of advantages in smart homes, including increased security, longer light durability, ability to modify lights, lower energy use, and reduced operating expenses. This is expected to drive revenue growth of the market between 2021 and 2030.

Smart lighting can help to identify when a user is not present and save energy when not in use. Majority of businesses are focusing on smart lighting applications that include AI virtual assistants. Application of smart lighting can make the everyday environment more adaptable and responsive to human presence. These factors are expected to boost revenue growth of the global LED lighting market during the forecast period.

However, higher blue light emissions by smart lighting than incandescent lighting is expected to hamper revenue growth of the market during the forecast period. LED lighting produces blue light that is harmful for the retina. Light-induced retinal damage can result from viewing either a very bright light for a short time (acute exposure) or a less bright light for a longer duration (development of age-related macular degeneration (AMD)). However, using a blue light filtering screen or limiting the exposure to LED lighting after one hour of usage can help decrease chances of retinal damage and also help in recovering from sleep disorders.

Competitive Landscape:

The research report offers details about leading companies in the global LED Lighting Market along with global position, financial standing, license agreement, products and services portfolio and revenue contribution of each market player. Key players in the market are focusing on adopting various strategies such as mergers and acquisition, business expansion plans, new product launches, partnerships, collaborations, joint ventures to enhance their product base and gain robust footing in the market.

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

Key companies operating in the market include: -
• Samsung Electronics Co., Ltd.,
• Panasonic Corporation,
• Signify Holding B.V.,
• Nichia Corporation
• Others

The report provides an extensive assessment of the top leading players of the industry and gives valuable insights into the companies controlling the highest share of the overall market. The report further provides details of the recent mergers & acquisitions, joint ventures, collaborations, partnerships, licensing agreements, and brand promotions and products launches, among others. The segment further covers SWOT analysis of each market player and offers key insights into manufacturing and production capacities, product portfolio, market share and revenue growth, and key strategies to help gain an in-depth understanding of the competitive landscape.

Get Full Report: https://www.reportsanddata.com/report-detail/led-lighting-market

Market Overview:

Fast-moving consumer goods are also called consumer packaged goods and refer to the products that are in high demand across the globe, sold quickly, and available at cheap prices. Non-durable household goods, packaged foods, toiletries, beverages, over-the-counter medicines, cleaning and laundry products, and less expensive consumer electronics, among others are some major fast-moving consumer goods. COVID-19 pandemic has contributed significantly to the growth of the FMCG industry as it brought forward trends of digitalization and health and environment consciousness. Consumers are looking towards sustainability with increasing focus on the impact of products on the environment and this has led to development of eco-friendly products, manufacturing processes, and packaging. This trend is expected to continue going ahead and significantly drive market revenue growth over the forecast period. Increasing demand for convenience foods due to busy lifestyles, growing purchase of healthy food & beverages, and rising focus on improving customer experience through technological advancements and digitalization are some other factors that can drive market growth over the coming years.

Purchase Premium Report: https://www.reportsanddata.com/report-pricing/1099

The report further offers a comprehensive regional bifurcation of the key regions included in the LED Lighting Market along with production and consumption patterns, supply and demand ratio, import/export analysis, revenue contribution, market share and size, and operations of key market players in the region.

Request a customization of the report: https://www.reportsanddata.com/request-customization-form/1099

Market Segmentation:

Product Type Outlook:
• Lamps
• Luminaires

End-Use Outlook:
• Residential
• Commercial
• Industrial
• Architectural
• Others

Regional Analysis Covers:
• North America
o Canada
o U.S.
o Mexico
• Europe
o Germany
o Italy
o U.K.
o Rest of EU
• Asia Pacific
o India
o China
o Japan
o South Korea
o Rest of APAC
• Latin America
o Brazil
o Argentina
o Rest of Latin America
• Middle East & Africa
o Saudi Arabia
o South Africa
o U.A.E
o Rest of MEA

Thank you for reading our report. For further query or for request for customization, please get in touch with us. Our team will ensure you get the report best suited for your needs.

Explore Trending Research Reports by Reports and Data:

Cassava Starch Market https://www.userwalls.news/n/cassava-starch-market-2022-2028-increasing-cassava-functional-foods-beverages-due-healthful-3847672/

Brown Shimeji Mushroom Market https://www.userwalls.news/n/brown-shimeji-mushroom-market-2022-2028-operating-global-market-developing-food-products-3847754/

Dressing Market https://www.userwalls.news/n/dressing-market-2022-2030-utilize-commodity-dipping-sauces-increasing-number-food-establishments-3847655/

Biodegradable Water Bottle Market https://www.userwalls.news/n/biodegradable-water-bottle-market-2022-2028-growing-put-individual-efforts-reduce-carbon-3847656/

About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

Contact Us:

Nikhil Morankar
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com
LinkedIn | Twitter | Blogs

This release was published on openPR.