Grand View Research’s recent report says the global LED lighting market size is expected to reach $108.99 billion by 2025 and will register a CAGR of 14.4% during the forecast period. Continuous development of energy-saving capabilities, introduction of Standard Deviation Color Matching (SDCM) control, and longer lifespan compared to CFL lamps have accelerated demand for LED lamps at a global level. Introduction of smart/connected lighting and its multiple uses in residential, commercial, and industrial sectors has also spurred market growth.
Findings and Projections
- The indoor LED lighting segment held the largest share in 2016 and is anticipated to register a comparatively lower growth rate from 2017 to 2025.
- OLED emerged as the largest product segment in 2016 and is estimated to generate revenue worth USD 58.0 billion by 2025
- Global LED luminaires demand was valued at USD 10.63 billion in 2016 and is anticipated to witness staggered growth over the course of the forecast period
- The U.S. LED architectural lighting market was valued at USD 0.79 billion in 2016 and is anticipated to exhibit a CAGR of nearly 15.0% over the forecast period.
- The industry in Asia Pacific is projected to witness substantial growth over the next decade owing to tremendous demand for energy-efficient lighting in residential and commercial sectors. The regional market is expected to exhibit a CAGR of 15.4% from 2017 to 2025
- Key players such as Koninklijke Philips Electronics N.V.; OSRAM GmbH; Cree, Inc.; Eaton; and GE dominated the global LED lighting market, accounting for about 59.0% of the total revenue in 2016.
Be further illuminated, browse "LED Lighting Market Size, Share & Trends Analysis Report By Product (Basic LED, High Brightness LED, OLED), By Design (Lamps, Luminaires), By Application (Indoor, Outdoor), And Segment Forecasts, 2018 - 2025" report.
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