The global LED lighting market size is expected to reach USD 127.84 billion by 2027, exhibiting a CAGR of 10.8% over the forecast period, according to a new report published by Radiant Insights, Inc. The aggressive decline in the prices of LED lamps and luminaires, greater lifespan, low heat emission, and higher energy efficiency compared to the traditional light fixtures are the prominent factors driving the market. Moreover, global transformation in the energy policies, attractive rebates, and incentives provided by the government for the implementation of LED light is anticipated to boost the product demand.
The lighting industry is experiencing a swift transformation with light emitting diodes (LED) emerging as the number one source of light. The manufacturers have exhibited consistency in terms of new product developments and have also managed to reduce the product cost both of which have been the key factors driving the product demand. However, the increased cost of recycling and disposing of the LED lighting owing to the use of printed circuit boards (PCBs), which include harmful elements, is a concerning factor hindering the market expansion.
Download Free Sample Report @ https://www.radiantinsights.com/research/led-lighting-market-2027/request-sample
Technological advancements have led to the development of flicker-free LED lighting, which is well-suited for offices, classrooms, and hospitals, among others. The implementation of flicker-free lights contributes toward creating a comfortable lighting experience and has a positive impact on the health, which leads to increased productivity of an individual. Thus, flicker-free LED lighting technology has been contributing to the growth of the commercial and industrial application segments.
The prominent players operating in the North America LED lighting market have witnessed an increase in the product sales in the past few years. The linear fluorescent lighting type for industrial and commercial applications had widespread adoption in U.S. owing to the benefits such as low cost and high efficiency. However, revisions in lighting standards stated by the U.S. Department of Energy along with rising awareness has compelled the end users to adopt LED lights, thereby driving the market growth.
Europe is witnessing an increase in the demand for light-emitting diode lights owing to the government efforts to deploy efficient lighting technologies. For instance, the Swedish government decided to fully support the transition to LED technology by establishing an R&D grant program with an investment of around USD 6.3 million. Also, countries such as Germany and U.K are focusing on the deployment of efficient lighting sources to lower the operational cost and to improve the quality of lights.
LED lighting technology has also witnessed significant growth in areas, such as healthcare lighting and horticulture lighting. Furthermore, connected and intelligent lighting is anticipated to play a crucial role in driving the light emitting diode lighting market growth over the forecast period. Development of smart cities across the world is anticipated to provide lucrative growth opportunities for the prominent market players.
Further key findings from the report suggest:
• Luminaires segment was valued at USD 30.26 billion in 2019 and is anticipated to witness steady growth over the forecast period
• The residential segment is expected to expand at the fastest CAGR of 11.7% over the forecast period owing to lowered product prices and subsidy programs by various governments and agencies
• The indoor segment was valued at USD 37.31 billion in 2019 and is expected to witness stable growth throughout the forecast period
• Asia Pacific LED lighting market is projected to witness substantial growth over the next decade, owing to the tremendous demand for energy-efficient lighting from residential and commercial sectors. It is expected to exhibit a CAGR of 11.9% from 2020 to 2027
• Prominent market players include Signify Holding; OSRAM GmbH; Cree, Inc.; Eaton; Tungsram; and SZumtobel Group AG
Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/led-lighting-market-2027
Table of Contents
Chapter 1 Methodology and Scope
1.1 Information Procurement
1.2 Purchased Database
1.2.1 Radiant Insights, Inc. Internal Database
1.3 Research Methodology
1.4 Research Scope & Assumptions
1.5 List of Primary Sources
1.6 List of Secondary Sources
Chapter 2 Executive Summary
Chapter 3 Market Definitions
3.1 Market Segmentation
Chapter 4 Industry Outlook
4.1 Market Snapshot
4.2 Global LED Lighting Market
4.2.1 Product Segment Trends
4.2.2 Application Segment Trends
4.2.3 Regional Segment Trends
4.3 Value Chain Analysis
4.4 Market Variable Analysis
4.4.1 Market Driver Analysis
4.4.1.1 Transformation in energy policies globally
4.4.1.2 Aggressive price decline
4.4.1.3 Growing regulatory and government intervention across the world
4.4.1.4 Attractive incentives
4.4.1.5 High efficiency and greater lifespan
4.4.2 Market Restraint Analysis
4.4.2.1 Volatile economic situations
4.4.2.2 Lack of consumer awareness
4.4.2.3 Compatibility constraint
4.4.2.4 Dominance of conventional lights
4.4.2.5 High adoption cost
Continued…
Read all Reports of this category @ https://www.radiantinsights.com/catalog/electronics
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research reports, helping them in the decisions making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Media Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Phone: (415) 349-0054
Toll Free: 1-888-928-9744
Address: 201 Spear Street 1100, Suite 3036,
City: San Francisco; State: California; Country: United States
Email: sales@radiantinsights.com
Website: https://www.radiantinsights.com/
The lighting industry is experiencing a swift transformation with light emitting diodes (LED) emerging as the number one source of light. The manufacturers have exhibited consistency in terms of new product developments and have also managed to reduce the product cost both of which have been the key factors driving the product demand. However, the increased cost of recycling and disposing of the LED lighting owing to the use of printed circuit boards (PCBs), which include harmful elements, is a concerning factor hindering the market expansion.
Download Free Sample Report @ https://www.radiantinsights.com/research/led-lighting-market-2027/request-sample
 |
| LED Lighting Market |
Technological advancements have led to the development of flicker-free LED lighting, which is well-suited for offices, classrooms, and hospitals, among others. The implementation of flicker-free lights contributes toward creating a comfortable lighting experience and has a positive impact on the health, which leads to increased productivity of an individual. Thus, flicker-free LED lighting technology has been contributing to the growth of the commercial and industrial application segments.
The prominent players operating in the North America LED lighting market have witnessed an increase in the product sales in the past few years. The linear fluorescent lighting type for industrial and commercial applications had widespread adoption in U.S. owing to the benefits such as low cost and high efficiency. However, revisions in lighting standards stated by the U.S. Department of Energy along with rising awareness has compelled the end users to adopt LED lights, thereby driving the market growth.
Europe is witnessing an increase in the demand for light-emitting diode lights owing to the government efforts to deploy efficient lighting technologies. For instance, the Swedish government decided to fully support the transition to LED technology by establishing an R&D grant program with an investment of around USD 6.3 million. Also, countries such as Germany and U.K are focusing on the deployment of efficient lighting sources to lower the operational cost and to improve the quality of lights.
LED lighting technology has also witnessed significant growth in areas, such as healthcare lighting and horticulture lighting. Furthermore, connected and intelligent lighting is anticipated to play a crucial role in driving the light emitting diode lighting market growth over the forecast period. Development of smart cities across the world is anticipated to provide lucrative growth opportunities for the prominent market players.
Further key findings from the report suggest:
• Luminaires segment was valued at USD 30.26 billion in 2019 and is anticipated to witness steady growth over the forecast period
• The residential segment is expected to expand at the fastest CAGR of 11.7% over the forecast period owing to lowered product prices and subsidy programs by various governments and agencies
• The indoor segment was valued at USD 37.31 billion in 2019 and is expected to witness stable growth throughout the forecast period
• Asia Pacific LED lighting market is projected to witness substantial growth over the next decade, owing to the tremendous demand for energy-efficient lighting from residential and commercial sectors. It is expected to exhibit a CAGR of 11.9% from 2020 to 2027
• Prominent market players include Signify Holding; OSRAM GmbH; Cree, Inc.; Eaton; Tungsram; and SZumtobel Group AG
Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/led-lighting-market-2027
Table of Contents
Chapter 1 Methodology and Scope
1.1 Information Procurement
1.2 Purchased Database
1.2.1 Radiant Insights, Inc. Internal Database
1.3 Research Methodology
1.4 Research Scope & Assumptions
1.5 List of Primary Sources
1.6 List of Secondary Sources
Chapter 2 Executive Summary
Chapter 3 Market Definitions
3.1 Market Segmentation
Chapter 4 Industry Outlook
4.1 Market Snapshot
4.2 Global LED Lighting Market
4.2.1 Product Segment Trends
4.2.2 Application Segment Trends
4.2.3 Regional Segment Trends
4.3 Value Chain Analysis
4.4 Market Variable Analysis
4.4.1 Market Driver Analysis
4.4.1.1 Transformation in energy policies globally
4.4.1.2 Aggressive price decline
4.4.1.3 Growing regulatory and government intervention across the world
4.4.1.4 Attractive incentives
4.4.1.5 High efficiency and greater lifespan
4.4.2 Market Restraint Analysis
4.4.2.1 Volatile economic situations
4.4.2.2 Lack of consumer awareness
4.4.2.3 Compatibility constraint
4.4.2.4 Dominance of conventional lights
4.4.2.5 High adoption cost
Continued…
Read all Reports of this category @ https://www.radiantinsights.com/catalog/electronics
About Radiant Insights
Radiant Insights is a platform for companies looking to meet their market research and business intelligence requirements. It assists and facilitate organizations and individuals procure market research reports, helping them in the decisions making process. The Organization has a comprehensive collection of reports, covering over 40 key industries and a host of micro markets. In addition to over extensive database of reports, experienced research coordinators also offer a host of ancillary services such as, research partnerships/ tie-ups and customized research solutions.
Media Contact:
Company Name: Radiant Insights, Inc
Contact Person: Michelle Thoras
Phone: (415) 349-0054
Toll Free: 1-888-928-9744
Address: 201 Spear Street 1100, Suite 3036,
City: San Francisco; State: California; Country: United States
Email: sales@radiantinsights.com
Website: https://www.radiantinsights.com/
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