Press release
North America LED Lighting Market to Reach US$ 32.6 Billion by 2028
North America LED Lighting Market
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North America LED Lighting Industry Outlook:
A light-emitting diode (LED) is a semiconductor that produces visible light when an electric current is passed through it. The color of light is determined by the energy required for an electron to cross the band gap of a semiconductor. An LED lighting system can produce numerous colors, including red, yellow, blue, green, white, purple, bicolor, tricolor, and infrared, and can be used in indoor and outdoor lighting and as a backlight source in LCD. It is also utilized in automotive, mobile devices, signal and signage, healthcare, forensics, and academics. It is gaining widespread prominence as it offers a long lifespan, durability, design flexibility, energy efficiency, economic efficiency, low-voltage operation, and zero UV emissions.
North America Led Lighting Market Demand:
The increasing consumer demand for energy-efficient lighting solutions is driving the market in North America. Moreover, the growing demand for lighting fuel and rising awareness regarding the negative impact of kerosene-based lighting products on health are catalyzing the sales of LED Lighting across the region. In response to this, several major companies are focusing on the integration of Wi-Fi, occupancy sensors, and daylighting for developing the product, providing a boost to the demand.
Furthermore, the rising investments by the government in smart city projects are acting as another growth-inducing factor. Besides, the increasing demand for LED lights from residential and commercial sectors due to benefits, including improved energy efficiency, low heat emission, cost-saving, and longer service life, are also influencing the market across North America.
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Key Market Segmentation:
Breakup by Product Type:
• LED Lamps and Modules
• LED Fixtures
Breakup by Application:
• Retrofit
• Retail and Hospitality
• Outdoor
• Offices
• Architectural
• Residential
• Others
Breakup by Region:
• United States
• Canada
• Mexico
Competitive Landscape :
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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