LED Lighting Market

LED Lighting Market by Product (Lamps, Luminaire), Application (Indoor, Outdoor), Installation (New, Retrofit), Sales Channel (Direct, retail, E-commerce) and Region (North America, Europe, APAC, Rest of the World) Global Forecast to 2029

Report Code: SE 4912 Feb, 2024, by marketsandmarkets.com

[271 Pages Report] The global LED lighting market is projected to grow from USD 78.9 billion in 2024 to USD 118.4 billion by 2029, registering a CAGR of 8.5% during the forecast period. The LED lighting market is driven by a confluence of factors and trends. Energy efficiency remains a paramount driver, with LED technology offering substantial reductions in energy consumption compared to traditional lighting sources. Environmental sustainability is a key trend, influencing consumers and businesses to choose LED lighting for its lower carbon footprint and absence of hazardous materials. Technological advancements, coupled with decreasing production costs, enhance the affordability and versatility of LED lighting solutions, driving market growth.

LED Lighting Market

LED Lighting Market

LED Lighting Market Forecast to 2029

To know about the assumptions considered for the study, Request for Free Sample Report

Market Dynamics:

Driver: Favourable government initiatives and regulations for energy efficient LED lighting solutions across the world

Governments worldwide are increasingly recognizing the importance of energy efficiency and sustainability, leading to the implementation of favorable regulations that promote the adoption of LED lighting solutions. These regulations are designed to drive the transition from traditional lighting technologies to more energy-efficient and environmentally friendly alternatives.

According to US Department of Energy, the use of energy-efficient lighting technological products such as ENERGY STAR rated residential LEDs tend to use 75% lesser energy and tend to last 25 times longer than incandescent lighting solutions used in the country. As per the department of energy’s forecast, By the year 2035, it is expected that the predominant choice for lighting installations will be LED technology. The energy efficiency gains from widespread LED lighting adoption could reach an impressive 569 terawatt-hours annually by 2035. This amount is equivalent to the yearly energy output of over 92 power plants each generating 1,000 megawatts. This projection underscores the significant impact and growing prevalence of LED lighting in the global energy landscape.

In June 2023, the Biden-Harris Administration, in collaboration with the U.S. Department of Energy (DOE), has unveiled the initial group of recipients for the Renew America’s Schools grant program. This competitive initiative aims to facilitate energy enhancements in K–12 schools nationwide. A total of 24 Local Education Agencies (LEAs) in 22 states have been selected to collectively receive approximately $178 million in funding. This financial support will empower these educational entities to undertake a range of projects focused on reducing energy expenditures, minimizing emissions, and fostering the development of healthier, safer, and more conducive learning environments within their respective schools. This grant includes the funding for setting up of newer LED lighting solutions as an alternative to traditional energy-consuming lighting products.

Also, government offers various benefits for adopting LED lighting solutions instead of traditional lighting solutions. Numerous governments provide financial incentives in the form of rebates for both individuals and businesses undertaking the installation of energy-efficient lighting solutions. These rebates serve as a means to alleviate the upfront expenses associated with acquiring energy-efficient bulbs, thus rendering the transition to such lighting options more economically viable. Also, in certain nations, governmental authorities extend tax incentives to encourage the adoption of energy-efficient lighting systems. These incentives manifest as tax credits or deductions, enabling individuals and businesses to retain a greater portion of their financial resources while contributing to environmental conservation. By leveraging these tax incentives, users not only benefit from cost savings but also actively participate in initiatives aimed at promoting sustainable practices and reducing overall energy consumption.

Restraint: Functional problems associated with LED technology

While LED (Light Emitting Diode) technology offers numerous advantages, there are some functional problems and challenges associated with it. Generally, LEDs produce heat, and if not managed effectively, it can affect their performance and lifespan. Overheating leads to color shifting, reduced brightness, and a shorter overall lifespan. Adequate heat sinks and thermal management systems are crucial to mitigate this issue. Achieving consistent color across different LED products and over time can be a challenge. Variations in color temperature and color rendering occur, impacting the quality of lighting and making it difficult to match colors accurately, especially in commercial or industrial applications.

 While LED technology has made significant strides in improving color rendering, some LEDs still struggle to accurately represent certain colors, affecting the overall quality of illumination. Thus, Color Rendering Index (CRI) issues are there to be solved. Advances in phosphor technology and color-mixing techniques aim to address this challenge. Also, LED drivers, which convert AC power to the DC power required for LEDs, introduce power quality issues such as harmonics and electromagnetic interference (EMI). These issues may impact the performance of other electronic devices sharing the same power supply. Thus, power quality issues are also there.

Opportunity: Rising adoption of LED lighting in horticulture sector

The use of LED lighting in horticulture has gained significant traction as a cutting-edge technology that offers numerous benefits to enhance plant growth and optimize crop yields. LED lighting is employed in controlled environment agriculture (CEA) systems, such as greenhouses and vertical farms, to provide artificial light that complements or replaces natural sunlight. LED lighting allows precise control over the light spectrum, enabling farmers to tailor the wavelengths emitted by the LEDs to meet the specific needs of different crops at various growth stages. This spectral control influences factors such as flowering, fruiting, and overall plant development. From the energy efficiency perspective, LED lights are highly energy-efficient, converting a larger proportion of energy into usable light for plants. This efficiency results in reduced energy consumption compared to traditional lighting sources, making LED lighting a sustainable and cost-effective choice for indoor farming operations.

With LED technology, growers can create customized light recipes by adjusting the intensity and spectrum of light. This level of customization allows for the optimization of plant characteristics, such as taste, texture, color, and nutritional content, catering to specific market preferences. LED lighting enables year-round cultivation independent of natural sunlight conditions. This is especially valuable in regions with extreme climates or limited sunlight hours during certain seasons, as it ensures a consistent and reliable environment for plant growth.

Challenge: Lack of common open standards for LED lighting

The lack of common open standards for LED lights is a notable challenge in the LED lighting industry. Common open standards play a crucial role in ensuring interoperability, compatibility, and seamless communication among different devices and systems. The absence of standardized communication protocols results in interoperability challenges. Different manufacturers adopt proprietary protocols, making it difficult for LED lighting products from different vendors to work together seamlessly. This limits the choices available to consumers and creates complexities in building automation systems. Also, proprietary protocols and closed systems lead to vendor lock-in, where consumers become dependent on a specific manufacturer's products and technologies. This lack of flexibility hinders innovation and limits consumers' ability to choose the best solutions for their needs.

Building automation systems often involves the integration of various devices and systems, including lighting, HVAC, security, and more. Without common open standards, integrating LED lighting with other building automation components becomes more complex and costly. Common open standards enable plug-and-play functionality, allowing devices to work together seamlessly without extensive configuration. The absence of such standards requires more manual configuration and troubleshooting during installation and integration processes. Also, smart lighting solutions often rely on standardized communication protocols for effective control and automation. The lack of common open standards slows down the adoption of smart lighting systems as consumers and businesses hesitate to invest in technologies that are not interoperable or future-proof.

LED lighting Market Ecosystem

Key companies in this market include well-established, financially stable providers of LED lighting products. These companies have been operating in the market for several years and possess a diversified portfolio of LED lighting which caters to a wide range of applications. Prominent companies in this market include Signify Holding (Netherlands), Acuity Brands, Inc. (US), Cree Lighting USA LLC (US), ams OSRAM AG (Germany), LG Electronics (South Korea), Dialight (UK), Panasonic Corporation (Japan), Hubbell (US), Savant Systems, Inc. (US), and Zumtobel Group (Germany).

LED lighting Market  by Ecosystem

By Application, outdoor segment likely to exhibit the highest CAGR during the forecast period

The outdoor application segment is poised to register the highest CAGR in the LED lighting market due to a surge in urbanization, infrastructure development, and a growing emphasis on outdoor illumination. Governments worldwide are investing in smart city initiatives, and the need for energy-efficient, durable, and environmentally friendly outdoor lighting solutions is escalating. LEDs, with their adaptability to various outdoor environments, longer lifespan, and lower energy consumption, are becoming the preferred choice for street lighting, architectural lighting, and landscape illumination. Additionally, the increasing demand for enhanced security and safety measures in outdoor spaces further propels the adoption of LED lighting.

By sales channel, retail is expected to account for largest share between 2024 and 2029.

The retail/wholesale segment is poised to dominate the market share from 2024 to 2029, emerging as the favored choice among consumers. The prevalence of numerous retail outlets, coupled with the inherent benefits of this option, including superior product quality, on-site verification, and immediate product availability, contributes significantly to the segment's expansion. Products are distributed through retailers, dealers, and affiliates within the retail or wholesale category. Typically, these channel partners boast a well-established local presence, enabling cost-effective customer reach in their respective markets.

By product, luminaire segment to exhibit highest CAGR from 2024 to 2029

The luminaire product segment is anticipated to exhibit the highest growth rate owing to a confluence of factors driving its demand. Luminaire products, encompassing a variety of lighting fixtures, are integral to modern lighting solutions across residential, commercial, and industrial settings. The increasing emphasis on energy efficiency and sustainability in lighting solutions has spurred the adoption of advanced luminaire products, particularly those incorporating LED technology. Technological innovations, such as smart and connected luminaires, are gaining traction, further boosting the growth of this segment. The flexibility, design versatility, and adaptability of luminaires to diverse lighting requirements contribute to their escalating popularity.

Asia Pacific region is projected to experience the highest growth in the overall LED lighting market during the forecast period

LED Lighting Market
 by Region

LED Lighting Market by Region

To know about the assumptions considered for the study, download the pdf brochure

The LED lighting market in India is projected to experience the most significant CAGR from 2024 to 2029. In recent years, LED lighting has emerged as the predominant form of artificial illumination, surpassing traditional lighting options including incandescent bulbs, compact fluorescent lamps (CFLs), fluorescent lamps, high-pressure sodium lamps, and metal halide lamps within the country. LED bulbs and luminaires dominate nearly all lighting applications, including offices, retail stores, hospitality facilities, industrial plants, roads, and now even in sports complexes. The country has witnessed a disruptive change, making conventional lighting sources obsolete, and due to this reason, India is likely to witness tremendous growth in the LED lighting market in the coming years.

Key Market Players

Signify Holding (Netherlands), Acuity Brands, Inc. (US), Cree Lighting USA LLC (US), ams OSRAM AG (Germany), LG Electronics (South Korea), Dialight (UK), Panasonic Corporation (Japan), Hubbell (US), Savant Systems, Inc. (US), and Zumtobel Group (Germany) are the major companies in the LED lighting companies.

Report Scope

The report covers the demand- and supply-side segmentation of the LED Lighting Market. The supply-side market segmentation includes the product type, installation, sales channel whereas the demand-side market segmentation includes application, and region.

Get online access to the report on the World's First Market Intelligence Cloud

  • Easy to Download Historical Data & Forecast Numbers
  • Company Analysis Dashboard for high growth potential opportunities
  • Research Analyst Access for customization & queries
  • Competitor Analysis with Interactive dashboard
  • Latest News, Updates & Trend analysis
Request Sample

Scope of the Report

Report Metric

Details

Market Size Available for Years

2020–2029

Base Year Considered

2023

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Segments Covered

Product Type, Application, Installation, Sales Channel, and Region

Geographies Covered

Asia Pacific, North America, Europe, Middle East, Africa, and South America

Key Companies Covered

Signify Holding (Netherlands), Acuity Brands, Inc.(US), Cree Lighting USA LLC (US), ams-OSRAM AG (Austria), LG Electronics (South Korea), Dialight (UK), Panasonic Corporation (Japan), Hubbell (US), Zumtobel Group (Germany), Savant Systems, Inc. (US)

LED Lighting Market Highlights

In this report, the LED Lighting Market has been segmented into the following categories:

Segment

Subsegment

By Product Type:

  • Lamps
    • A-Type
    • T-Type
    • Other Lamp Types (Type-B and Type-C LE Lamps)
  • Luminaires
    • Downlighting
    • Decorative Lighting
    • Directional Lighting
    • Other Luminaire Types (Surface Mounted, In-ground and Pendant Luminaires)

By Application:

  • Indoor
    • Residential
    • Commercial
      • Offices
      • Retail Stores
      • Horticulture Gardens
      • Others (Hotels & Restaurants)
    • Industrial
    • Other Indoor Applications (Government Buildings & Public Spaces)
  • Outdoor
    • Streets and Roadways
    • Architectural Buildings
    • Sports Complexes
    • Tunnels
    • Other Outdoor Applications (Urban Landscapes, Parks, Plazas, Event Lighting)

By Installation:

  • New
  • Retrofit

By Sales Channel:

  • Retail/Wholesale
  • Direct Sales
  • E-commerce

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Rest of the World

Recent Developments

  • In September 2023, Advanced Lighting Technologies, LLC revealed that its affiliate, CLNA Holdings LLC, successfully completed the acquisition of the entire equity interests of Cree Lighting USA, Cree Lighting Canada Corp., and E-CONOLIGHT LLC collectively referred to as "Cree Lighting," from IDEAL INDUSTRIES, INC., and IDEAL INDUSTRIES (CANADA), CORP.
  • In September 2023, A-Light, a division of Acuity Brands and a reputable manufacturer known for its best-in-class specification grade interior lighting solutions, introduced the Lino luminaire. This minimalist linear fixture comes with an IP66 rating, offering enhanced versatility for exterior applications.
  • In August 2023, Signify Holding announced the opening of its largest LED lighting manufacturing site in the world in Jiujiang, Jiangxi Province, China. The new factory is expected to boost Signify's growth in China and across the world..
  • In January 2022, Signify introduced an innovative lineup of Philips Hue smart lighting products tailored to craft optimal atmospheres both indoors and outdoors within residential settings. This collection features novel outdoor wall and bollard lights, alongside additional effects incorporated into the Philips Hue app, elevating the ambiance for various home occasions. The latest offerings comprise four gradient-enabled products, white ambiance filament bulbs, enhanced smart bulbs, and newly introduced bathroom and ceiling lights. Notably, the Philips Hue app has been updated to include a pioneering integration of lighting and music, specifically with Spotify, enhancing the overall smart lighting experience.

Frequently Asked Questions (FAQs):

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

TABLE OF CONTENTS
 
1 INTRODUCTION (Page No. - 29)
    1.1 STUDY OBJECTIVES 
    1.2 MARKET DEFINITION 
           1.2.1 INCLUSIONS & EXCLUSIONS
    1.3 STUDY SCOPE 
           1.3.1 MARKETS COVERED
                    FIGURE 1 LED LIGHTING MARKET SEGMENTATION
           1.3.2 REGIONS COVERED
    1.4 YEARS CONSIDERED 
    1.5 CURRENCY CONSIDERED 
    1.6 UNIT CONSIDERED 
    1.7 STAKEHOLDERS 
    1.8 SUMMARY OF CHANGES 
           1.8.1 IMPACT OF RECESSION
 
2 RESEARCH METHODOLOGY (Page No. - 35)
    2.1 RESEARCH DATA 
           FIGURE 2 LED LIGHTING MARKET: RESEARCH DESIGN
           2.1.1 PRIMARY AND SECONDARY RESEARCH DATA
           2.1.2 SECONDARY DATA
                    2.1.2.1 Key data from secondary sources
                    2.1.2.2 List of key secondary sources
           2.1.3 PRIMARY DATA
                    2.1.3.1 Key data from primary sources
                    2.1.3.2 Key insights from industry experts
                    2.1.3.3 Breakdown of primary interviews
                    2.1.3.4 List of key primary interview participants
    2.2 MARKET SIZE ESTIMATION 
           2.2.1 BOTTOM-UP APPROACH
                    FIGURE 3 MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    FIGURE 4 MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH
           2.2.3 GROWTH RATE AND FORECAST ASSUMPTIONS
    2.3 FACTOR ANALYSIS 
           2.3.1 SUPPLY-SIDE ANALYSIS
                    FIGURE 5 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE)—REVENUE GENERATED BY COMPANIES FROM PRODUCTS OFFERED IN LED LIGHTING MARKET
           2.3.2 DEMAND-SIDE ANALYSIS
                    FIGURE 6 MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (DEMAND SIDE) FOR LED LIGHTING MARKET
    2.4 DATA TRIANGULATION 
           FIGURE 7 DATA TRIANGULATION
    2.5 LIMITATIONS AND RISK ASSESSMENT 
    2.6 IMPACT OF RECESSION 
    2.7 RESEARCH ASSUMPTIONS 
 
3 EXECUTIVE SUMMARY (Page No. - 48)
    FIGURE 8 LAMPS SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD
    FIGURE 9 NEW INSTALLATIONS SEGMENT TO ACCOUNT FOR LARGER MARKET DURING FORECAST PERIOD
    FIGURE 10 RETAIL/WHOLESALE SEGMENT TO ACCOUNT FOR LARGEST MARKET DURING FORECAST PERIOD
    FIGURE 11 OUTDOOR SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
    FIGURE 12 ASIA PACIFIC TO BE MOST LUCRATIVE MARKET DURING FORECAST PERIOD
 
4 PREMIUM INSIGHTS (Page No. - 52)
    4.1 ATTRACTIVE OPPORTUNITIES FOR KEY PLAYERS IN LED LIGHTING MARKET 
           FIGURE 13 INCREASING ADOPTION OF LED LAMPS AS SUBSTITUTE FOR CONVENTIONAL LAMPS TO DRIVE GROWTH OF LED LIGHTING MARKET
    4.2 LED LIGHTING MARKET, BY PRODUCT TYPE 
           FIGURE 14 LAMPS SEGMENT TO ACCOUNT FOR LARGER MARKET DURING FORECAST PERIOD
    4.3 LED LIGHTING MARKET, BY INSTALLATION 
           FIGURE 15 NEW INSTALLATIONS SEGMENT TO CAPTURE LARGER MARKET DURING FORECAST PERIOD
    4.4 LED LIGHTING MARKET, BY LAMP TYPE 
           FIGURE 16 A-TYPE LAMPS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
    4.5 LED LIGHTING MARKET, BY SALES CHANNEL 
           FIGURE 17 RETAIL/WHOLESALE SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD
    4.6 LED LIGHTING MARKET, BY INDOOR APPLICATION 
           FIGURE 18 RESIDENTIAL SEGMENT TO HOLD LARGEST MARKET DURING FORECAST PERIOD
    4.7 ASIA PACIFIC: LED LIGHTING MARKET, BY APPLICATION AND KEY COUNTRY 
           FIGURE 19 CHINA AND INDOOR SEGMENT TO ACCOUNT FOR SIGNIFICANT MARKET SHARES DURING FORECAST PERIOD
    4.8 LED LIGHTING MARKET: REGIONAL ANALYSIS 
           FIGURE 20 INDIA TO BE LUCRATIVE MARKET DURING FORECAST PERIOD
 
5 MARKET OVERVIEW (Page No. - 56)
    5.1 INTRODUCTION 
    5.2 MARKET DYNAMICS 
           FIGURE 21 LED LIGHTING MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES
           5.2.1 DRIVERS
                    5.2.1.1 Increasing use of smart lighting systems
                    5.2.1.2 Global warming and need for energy consumption
                               FIGURE 22 GLOBAL LIGHTING PENETRATION TREND, 2012–2030
                    5.2.1.3 Rising demand for LED lighting systems for residential interior designing and home decoration
                    5.2.1.4 Growing investments in R&D due to rising demand for bulbs and luminaires
                    5.2.1.5 LED lighting positively impacting human health and well-being
                    5.2.1.6 Favorable government initiatives and regulations
                               FIGURE 23 LED LIGHTING MARKET DRIVERS: IMPACT ANALYSIS
           5.2.2 RESTRAINTS
                    5.2.2.1 High installation cost of large projects
                    5.2.2.2 US-China trade conflict and ongoing Russia-Ukraine war
                    5.2.2.3 Functional problems associated with LED technology
                               FIGURE 24 LED LIGHTING MARKET RESTRAINTS: IMPACT ANALYSIS
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Government initiatives to achieve carbon neutrality
                    5.2.3.2 Continuous decline in prices of LED chips and other components of lighting systems
                    5.2.3.3 Growing adoption of wireless LED lighting technology for outdoor applications
                    5.2.3.4 Rising adoption of LED lighting in horticulture
                               FIGURE 25 LED LIGHTING MARKET OPPORTUNITIES: IMPACT ANALYSIS
           5.2.4 CHALLENGES
                    5.2.4.1 Slow rate of adoption of LED technology in emerging economies
                    5.2.4.2 Threat of data/security breach in IoT-based lighting systems
                    5.2.4.3 Lack of common open standards for LED lighting
                               FIGURE 26 LED LIGHTING MARKET CHALLENGES: IMPACT ANALYSIS
    5.3 VALUE CHAIN ANALYSIS 
           FIGURE 27 VALUE CHAIN ANALYSIS
    5.4 ECOSYSTEM ANALYSIS 
           FIGURE 28 MARKET ECOSYSTEM
           TABLE 1 LED LIGHTING MARKET: ECOSYSTEM
    5.5 INVESTMENT AND FUNDING SCENARIO 
           FIGURE 29 FUNDING SCENARIO IN LED LIGHTING MARKET, 2018–2022
    5.6 PORTER’S FIVE FORCES ANALYSIS 
           TABLE 2 IMPACT OF PORTER’S FIVE FORCES ON LED LIGHTING MARKET
           FIGURE 30 PORTER’S FIVE FORCES ANALYSIS
           5.6.1 INTENSITY OF COMPETITIVE RIVALRY
           5.6.2 THREAT OF NEW ENTRANTS
           5.6.3 THREAT OF SUBSTITUTES
           5.6.4 BARGAINING POWER OF BUYERS
           5.6.5 BARGAINING POWER OF SUPPLIERS
    5.7 PRICING ANALYSIS 
           FIGURE 31 AVERAGE SELLING PRICE FOR LED LAMPS (60 W EQUIVALENT), 2020–2023 (USD)
           5.7.1 AVERAGE SELLING PRICE TREND FOR KEY PLAYERS
                    FIGURE 32 AVERAGE SELLING PRICE TREND FOR KEY PLAYERS, BY PRODUCT TYPE (USD)
                    FIGURE 33 KEY PLAYERS’ AVERAGE SELLING PRICE TREND FOR LED LAMPS (60 W EQUIVALENT), BY REGION, 2020–2023 (USD)
    5.8 TRADE ANALYSIS 
           TABLE 3 IMPORT VALUE FOR LAMPS AND LIGHTING FITTINGS, HS CODE: 9405, 2018–2022 (USD MILLION)
           FIGURE 34 IMPORT VALUE OF LAMPS AND LIGHTING FIXTURES, BY COUNTRY, 2018–2022 (USD MILLION)
           TABLE 4 EXPORT VALUE FOR LAMPS AND LIGHTING FIXTURES, HS CODE: 9405, 2018–2022 (USD MILLION)
           FIGURE 35 EXPORT VALUE OF LAMPS AND LIGHTING FIXTURES, BY COUNTRY, 2018–2022, (USD MILLION)
    5.9 REVENUE SHIFT & NEW REVENUE POCKETS FOR LED LIGHTING MARKET 
           FIGURE 36 REVENUE SHIFT IN LED LIGHTING MARKET
    5.10 CASE STUDY ANALYSIS 
           5.10.1 ULINE ADOPTED HIGHLY EFFICIENT KBL LUMINAIRE FROM CREE LIGHTING USA LLC TO ENHANCE PERFORMANCE LEVELS
           5.10.2 ATL HIRED BROOKS BERRY HAYNIE & ASSOCIATES TO MANAGE AND PERFORM LIGHTING CHANGEOVER FROM ADB AIRFIELD SOLUTIONS UNDER VERY TIGHT SCHEDULE
           5.10.3 FRANKLIN INSTITUTE IMPLEMENTED STOUCH LIGHTING’S NEW LIGHTING SYSTEM TO DECREASE ENERGY CONSUMPTION AND IMPROVE LIGHTING QUALITY
           5.10.4 WASHINGTON STATE DEPARTMENT OF ECOLOGY UPGRADED LED LIGHTING SYSTEM FROM CREE LIGHTING USA LLC TO REDUCE MAINTENANCE COSTS
           5.10.5 ST. LUKES PRIMARY SCHOOL, SKERTON, INSTALLED LED LIGHTING SYSTEMS FROM UK ENERGY WATCH TO REDUCE OPERATING COSTS
           5.10.6 PORT OF HOUSTON ADOPTED LED HIGH MAST LIGHTING FROM CONSTELLATION LIGHTING TO ENHANCE SAFETY AND OPERATIONAL EFFICIENCY
    5.11 KEY CONFERENCES & EVENTS 
           TABLE 5 LIST OF KEY CONFERENCES & EVENTS, 2024–2025
    5.12 PATENT ANALYSIS 
           TABLE 6 LIST OF KEY PATENTS IN LED LIGHTING MARKET, 2020–2023
           FIGURE 37 TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS
           5.12.1 PATENT TRENDS
                    FIGURE 38 PATENTS GRANTED ANNUALLY BETWEEN 2014 AND 2023
                    TABLE 7 PATENTS REGISTERED BY TOP 20 OWNERS IN LAST 10 YEARS
    5.13 TECHNOLOGY ANALYSIS 
           5.13.1 LI-FI
           5.13.2 HUMAN-CENTRIC LIGHTING
           5.13.3 IOT LIGHTING
           5.13.4 NATURAL LIGHTING ROBOT
           5.13.5 QUANTUM DOT-ENABLED LED
    5.14 GOVERNMENT REGULATIONS AND STANDARDS 
           5.14.1 GOVERNMENT REGULATIONS
           5.14.2 LED LIGHTING MARKET STANDARDS
                    5.14.2.1 IEEE 1789-2015 modulation frequencies for Light-Emitting Diodes (LEDs)
                    5.14.2.2 Energy Star – Developed by US Department of Energy (DOE) and US Environmental Protection Agency (EPA)
                    5.14.2.3 NEMA – ANSI C78.51: Electric Lamps – LED (Light-emitting Diode) Lamps – Method of Designation
    5.15 REGULATORY LANDSCAPE 
           5.15.1 NORTH AMERICA
                    5.15.1.1 US
                    5.15.1.2 Canada
                    5.15.1.3 Mexico
           5.15.2 EUROPE
                    5.15.2.1 Switzerland
                    5.15.2.2 Germany
                    5.15.2.3 France
           5.15.3 ASIA PACIFIC
                    5.15.3.1 Japan
                    5.15.3.2 China
                    5.15.3.3 India
           5.15.4 REST OF THE WORLD
                    5.15.4.1 UAE
                    5.15.4.2 Saudi Arabia
    5.16 KEY STAKEHOLDERS IN BUYING PROCESS 
           FIGURE 39 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE INDOOR APPLICATIONS
           TABLE 8 INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE INDOOR APPLICATIONS
           5.16.1 BUYING CRITERIA
                    FIGURE 40 KEY BUYING CRITERIA FOR TOP THREE INDOOR APPLICATIONS
 
6 LED LIGHTING MARKET, BY APPLICATION (Page No. - 97)
    6.1 INTRODUCTION 
           TABLE 9 LED LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD BILLION)
           FIGURE 41 OUTDOOR APPLICATION TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
           TABLE 10 LED LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD BILLION)
    6.2 INDOOR 
           TABLE 11 INDOOR: LED LIGHTING MARKET, BY TYPE, 2020–2023 (USD BILLION)
           FIGURE 42 RESIDENTIAL SEGMENT TO LEAD MARKET DURING FORECAST PERIOD
           TABLE 12 INDOOR: LED LIGHTING MARKET, BY TYPE, 2024–2029 (USD BILLION)
           TABLE 13 INDOOR: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)
           TABLE 14 INDOOR: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)
           6.2.1 RESIDENTIAL
                    6.2.1.1 Preference for comfortable lighting that consumes low power and adds to aesthetic
                               TABLE 15 RESIDENTIAL: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)
                               TABLE 16 RESIDENTIAL: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)
           6.2.2 COMMERCIAL
                    6.2.2.1 Need for energy-efficient, operational-at-lower-temperatures, highly efficient, and low-maintenance lights to drive market
                               TABLE 17 COMMERCIAL: LED LIGHTING MARKET, BY TYPE, 2020–2023 (USD BILLION)
                               TABLE 18 COMMERCIAL: LED LIGHTING MARKET, BY TYPE, 2024–2029 (USD BILLION)
                               TABLE 19 COMMERCIAL: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)
                               TABLE 20 COMMERCIAL: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)
                    6.2.2.2 Offices
                               6.2.2.2.1 Recessed luminaires and downlighters to help increase productivity and proactivity
                    6.2.2.3 Retail stores
                               6.2.2.3.1 Need to attract and engage potential customers and promote attributes, values, and information related to merchandise to drive market
                    6.2.2.4 Horticulture gardens
                               6.2.2.4.1 LED lighting to reduce operational costs through energy savings and greater efficiency
                    6.2.2.5 Other commercial applications
           6.2.3 INDUSTRIAL
                    6.2.3.1 Controlled industrial lighting to help save expenses and conserve energy
                               TABLE 21 INDUSTRIAL: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)
                               TABLE 22 INDUSTRIAL: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)
           6.2.4 OTHER INDOOR APPLICATIONS
                    TABLE 23 OTHER INDOOR APPLICATIONS: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)
                    TABLE 24 OTHER INDOOR APPLICATIONS: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)
    6.3 OUTDOOR 
           TABLE 25 OUTDOOR: LED LIGHTING MARKET, BY TYPE, 2020–2023 (USD BILLION)
           FIGURE 43 STREETS & ROADS SEGMENT TO ACCOUNT FOR LARGEST MARKET DURING FORECAST PERIOD
           TABLE 26 OUTDOOR: LED LIGHTING MARKET, BY TYPE, 2024–2029 (USD BILLION)
           TABLE 27 OUTDOOR: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)
           TABLE 28 OUTDOOR: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)
           6.3.1 STREETS & ROADS
                    6.3.1.1 Cost-effective and sustainable lighting to meet demand for scheduling, occupancy, and daylight harvesting requirements
           6.3.2 ARCHITECTURAL BUILDINGS
                    6.3.2.1 LED lighting to help create shapes and effects to enhance beauty of building through controlled movement of lights
           6.3.3 SPORTS COMPLEXES
                    6.3.3.1 LED lighting to offer wide beam angle and ensure optimal light coverage throughout stadiums
           6.3.4 TUNNELS
                    6.3.4.1 LED lighting to help save energy, reduce costs, augment safety, and reduce accidents
           6.3.5 OTHER OUTDOOR APPLICATIONS
 
7 LED LIGHTING MARKET, BY PRODUCT TYPE (Page No. - 112)
    7.1 INTRODUCTION 
           TABLE 29 LED LIGHTING MARKET, BY PRODUCT TYPE, 2020–2023 (USD BILLION)
           FIGURE 44 LUMINAIRES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD
           TABLE 30 LED LIGHTING MARKET, BY PRODUCT TYPE, 2024–2029 (USD BILLION)
    7.2 LAMPS 
           TABLE 31 LAMPS: LED LIGHTING MARKET, BY TYPE, 2020–2023 (USD BILLION)
           FIGURE 45 A-TYPE LAMPS SEGMENT TO ACCOUNT FOR LARGEST MARKET DURING FORECAST PERIOD
           TABLE 32 LAMPS: LED LIGHTING MARKET, BY TYPE, 2024–2029 (USD BILLION)
           TABLE 33 LAMPS: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)
           TABLE 34 LAMPS: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)
           7.2.1 A-TYPE
                    7.2.1.1 Ease of installation, availability in various wattages, and versatility to fuel demand for A-type LED lamps
           7.2.2 T-TYPE
                    7.2.2.1 T-Type LED lamps to enhance commercial and industrial lighting with energy efficiency and extended lifespan
           7.2.3 OTHER LAMP TYPES
    7.3 LUMINAIRES 
           TABLE 35 LUMINAIRES: LED LIGHTING MARKET, BY LIGHTING TYPE, 2020–2023 (MILLION UNITS)
           TABLE 36 LUMINAIRES: LED LIGHTING MARKET, BY LIGHTING TYPE, 2024–2029 (MILLION UNITS)
           TABLE 37 LUMINAIRES: LED LIGHTING MARKET, BY TYPE, 2020–2023 (USD BILLION)
           FIGURE 46 DECORATIVE LUMINAIRES SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
           TABLE 38 LUMINAIRES: LED LIGHTING MARKET, BY TYPE, 2024–2029 (USD BILLION)
           TABLE 39 LUMINAIRES: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)
           TABLE 40 LUMINAIRES: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)
           7.3.1 DOWNLIGHTING
                    7.3.1.1 Ability to consume less energy, provide instant illumination, and save energy to drive demand for downlighting
           7.3.2 DECORATIVE LIGHTING
                    7.3.2.1 Decorative lighting to make commercial and retail spaces more appealing
           7.3.3 DIRECTIONAL LIGHTING
                    7.3.3.1 Directional lighting to illuminate with precision and highlight architectural features
           7.3.4 OTHER LUMINAIRE TYPES
 
8 LED LIGHTING MARKET, BY INSTALLATION (Page No. - 123)
    8.1 INTRODUCTION 
           TABLE 41 LED LIGHTING MARKET, BY INSTALLATION, 2020–2023 (USD BILLION)
           FIGURE 47 NEW INSTALLED LED LIGHTS SEGMENT TO EXHIBIT HIGHER CAGR DURING FORECAST PERIOD
           TABLE 42 LED LIGHTING MARKET, BY INSTALLATION, 2024–2029 (USD BILLION)
    8.2 NEW INSTALLATION 
           8.2.1 NEWLY INSTALLED-LED LIGHTS’ ADHERENCE TO LATEST REGULATIONS TO EMPHASIZE ENERGY EFFICIENCY AND SUSTAINABILITY
                    TABLE 43 NEW INSTALLATION: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)
                    TABLE 44 NEW INSTALLATION: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)
    8.3 RETROFIT 
           8.3.1 RETROFIT LED INSTALLATIONS TO BECOME COST-EFFECTIVE AND SUSTAINABLE SOLUTIONS
                    TABLE 45 RETROFIT INSTALLATION: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)
                    TABLE 46 RETROFIT INSTALLATION: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)
 
9 LUMENS IN LED LIGHTING (Page No. - 128)
    9.1 INTRODUCTION 
    9.2 1,600 LUMENS 
    9.3 1,100 LUMENS 
    9.4 800 LUMENS 
    9.5 450 LUMENS 
           TABLE 47 LUMENS AND WATTAGE COMPARISON TABLE
    9.6 ADDITIONAL LED CLASSES 
           9.6.1 LOW-POWER LED
           9.6.2 HIGH-POWER LED
                    TABLE 48 LED LIGHT MEASUREMENT ATTRIBUTES
 
10 LED LIGHTING MARKET, BY SALES CHANNEL (Page No. - 131)
     10.1 INTRODUCTION 
             TABLE 49 LED LIGHTING MARKET, BY SALES CHANNEL, 2020–2023 (USD BILLION)
             FIGURE 48 ECOMMERCE SEGMENT TO LEAD LED LIGHTING MARKET WITH HIGHEST CAGR DURING FORECAST PERIOD
             TABLE 50 LED LIGHTING MARKET, BY SALES CHANNEL, 2024–2029 (USD BILLION)
     10.2 RETAIL/WHOLESALE 
             10.2.1 RISING CONCERN ABOUT AFTER-SALES SERVICE TO BOOST DEMAND FOR RETAILERS/WHOLESALERS
                        TABLE 51 RETAIL/WHOLESALE: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)
                        TABLE 52 RETAIL/WHOLESALE: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)
     10.3 DIRECT SALES/CONTRACT-BASED 
             10.3.1 NEED TO FULFIL CUSTOMERS’ SPECIFIC NEEDS AND PROVIDE TAILORED SOLUTIONS AND COST EFFICIENCY TO DRIVE MARKET
                        TABLE 53 DIRECT SALES/CONTRACT-BASED: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)
                        TABLE 54 DIRECT SALES/CONTRACT-BASED: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)
     10.4 ECOMMERCE 
             10.4.1 NEED FOR ECOMMERCE PLATFORMS FOR SEAMLESSLY DELIVERING LED LIGHTING SOLUTIONS AT CONSUMERS’ DOORSTEPS
                        TABLE 55 ECOMMERCE: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)
                        TABLE 56 ECOMMERCE: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)
 
11 LED LIGHTING MARKET, BY REGION (Page No. - 137)
     11.1 INTRODUCTION 
             FIGURE 49 LED LIGHTING MARKET: BY REGION
             FIGURE 50 INDIA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD
             TABLE 57 LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)
             TABLE 58 LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)
     11.2 AMERICAS 
             FIGURE 51 AMERICAS: SNAPSHOT OF LED LIGHTING MARKET
             11.2.1 AMERICAS: RECESSION IMPACT
                        TABLE 59 AMERICAS: LED LIGHTING MARKET, BY PRODUCT TYPE, 2020–2023 (USD BILLION)
                        TABLE 60 AMERICAS: LED LIGHTING MARKET, BY PRODUCT TYPE, 2024–2029 (USD BILLION)
                        TABLE 61 AMERICAS: LED LIGHTING MARKET, BY SALES CHANNEL, 2020–2023 (USD BILLION)
                        TABLE 62 AMERICAS: LED LIGHTING MARKET, BY SALES CHANNEL, 2024–2029 (USD BILLION)
                        TABLE 63 AMERICAS: LED LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD BILLION)
                        TABLE 64 AMERICAS: LED LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD BILLION)
                        TABLE 65 AMERICAS: LED LIGHTING MARKET, BY INSTALLATION, 2020–2023 (USD BILLION)
                        TABLE 66 AMERICAS: LED LIGHTING MARKET, BY INSTALLATION, 2024–2029 (USD BILLION)
                        TABLE 67 AMERICAS: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)
                        TABLE 68 AMERICAS: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)
             11.2.2 NORTH AMERICA
                        TABLE 69 NORTH AMERICA: LED LIGHTING MARKET, BY PRODUCT TYPE, 2020–2023 (USD BILLION)
                        TABLE 70 NORTH AMERICA: LED LIGHTING MARKET, BY PRODUCT TYPE, 2024–2029 (USD BILLION)
                        TABLE 71 NORTH AMERICA: LED LIGHTING MARKET, BY SALES CHANNEL, 2020–2023 (USD BILLION)
                        TABLE 72 NORTH AMERICA: LED LIGHTING MARKET, BY SALES CHANNEL, 2024–2029 (USD BILLION)
                        TABLE 73 NORTH AMERICA: LED LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD BILLION)
                        TABLE 74 NORTH AMERICA: LED LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD BILLION)
                        TABLE 75 NORTH AMERICA: LED LIGHTING MARKET, BY INSTALLATION, 2020–2023 (USD BILLION)
                        TABLE 76 NORTH AMERICA: LED LIGHTING MARKET, BY INSTALLATION, 2024–2029 (USD BILLION)
                        TABLE 77 NORTH AMERICA: LED LIGHTING MARKET, BY COUNTRY, 2020–2023 (USD BILLION)
                        TABLE 78 NORTH AMERICA: LED LIGHTING MARKET, BY COUNTRY, 2024–2029 (USD BILLION)
                        11.2.2.1 US
                                     11.2.2.1.1 Economic stability and high investments in advanced LED technologies to accelerate adoption of LED lighting
                        11.2.2.2 Canada
                                     11.2.2.2.1 Increasing awareness among consumers regarding benefits of energy-efficient systems to propel market
                        11.2.2.3 Mexico
                                     11.2.2.3.1 Increase in adoption of automation solutions across diverse industries to boost market
             11.2.3 SOUTH AMERICA
                        TABLE 79 SOUTH AMERICA: LED LIGHTING MARKET, BY PRODUCT TYPE, 2020–2023 (USD BILLION)
                        TABLE 80 SOUTH AMERICA: LED LIGHTING MARKET, BY PRODUCT TYPE, 2024–2029 (USD BILLION)
                        TABLE 81 SOUTH AMERICA: LED LIGHTING MARKET, BY SALES CHANNEL, 2020–2023 (USD BILLION)
                        TABLE 82 SOUTH AMERICA: LED LIGHTING MARKET, BY SALES CHANNEL, 2024–2029 (USD BILLION)
                        TABLE 83 SOUTH AMERICA: LED LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD BILLION)
                        TABLE 84 SOUTH AMERICA: LED LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD BILLION)
                        TABLE 85 SOUTH AMERICA: LED LIGHTING MARKET, BY INSTALLATION, 2020–2023 (USD BILLION)
                        TABLE 86 SOUTH AMERICA: LED LIGHTING MARKET, BY INSTALLATION, 2024–2029 (USD BILLION)
                        TABLE 87 SOUTH AMERICA: LED LIGHTING MARKET, BY COUNTRY, 2020–2023 (USD BILLION)
                        TABLE 88 SOUTH AMERICA: LED LIGHTING MARKET, BY COUNTRY, 2024–2029 (USD BILLION)
                        11.2.3.1 Brazil
                                     11.2.3.1.1 High demand for energy-efficient solutions and robust presence of airports to drive market
                        11.2.3.2 Argentina
                                     11.2.3.2.1 Government’s energy conservation initiatives to drive market
                        11.2.3.3 Rest of South America
     11.3 EUROPE 
             FIGURE 52 EUROPE: SNAPSHOT OF LED LIGHTING MARKET
             11.3.1 EUROPE: RECESSION IMPACT
                        TABLE 89 EUROPE: LED LIGHTING MARKET, BY PRODUCT TYPE, 2020–2023 (USD BILLION)
                        TABLE 90 EUROPE: LED LIGHTING MARKET, BY PRODUCT TYPE, 2024–2029 (USD BILLION)
                        TABLE 91 EUROPE: LED LIGHTING MARKET, BY SALES CHANNEL, 2020–2023 (USD BILLION)
                        TABLE 92 EUROPE: LED LIGHTING MARKET, BY SALES CHANNEL, 2024–2029 (USD BILLION)
                        TABLE 93 EUROPE: LED LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD BILLION)
                        TABLE 94 EUROPE: LED LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD BILLION)
                        TABLE 95 EUROPE: LED LIGHTING MARKET, BY INSTALLATION, 2020–2023 (USD BILLION)
                        TABLE 96 EUROPE: LED LIGHTING MARKET, BY INSTALLATION, 2024–2029 (USD BILLION)
                        TABLE 97 EUROPE: LED LIGHTING MARKET, BY COUNTRY, 2020–2023 (USD BILLION)
                        TABLE 98 EUROPE: LED LIGHTING MARKET, BY COUNTRY, 2024–2029 (USD BILLION)
 
                        11.3.2.1 Rising environmental consciousness and legislation related to energy efficiency to propel market
             11.3.3 GERMANY
                        11.3.3.1 Growing prevalence of smart homes and robust economy to create growth opportunities
             11.3.4 FRANCE
                        11.3.4.1 Increasing investments in infrastructure sector to create growth opportunities for LED lighting providers
             11.3.5 ITALY
                        11.3.5.1 Government initiatives promoting improved design and management of lighting systems to drive market
             11.3.6 SPAIN
                        11.3.6.1 Government’s focus on reducing greenhouse emissions to fuel market growth
             11.3.7 REST OF EUROPE
     11.4 ASIA PACIFIC 
             FIGURE 53 ASIA PACIFIC: SNAPSHOT OF LED LIGHTING MARKET
             11.4.1 ASIA PACIFIC: RECESSION IMPACT
                        TABLE 99 ASIA PACIFIC: LED LIGHTING MARKET, BY PRODUCT TYPE, 2020–2023 (USD BILLION)
                        TABLE 100 ASIA PACIFIC: LED LIGHTING MARKET, BY PRODUCT TYPE, 2024–2029 (USD BILLION)
                        TABLE 101 ASIA PACIFIC: LED LIGHTING MARKET, BY SALES CHANNEL, 2020–2023 (USD BILLION)
                        TABLE 102 ASIA PACIFIC: LED LIGHTING MARKET, BY SALES CHANNEL, 2024–2029 (USD BILLION)
                        TABLE 103 ASIA PACIFIC: LED LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD BILLION)
                        TABLE 104 ASIA PACIFIC: LED LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD BILLION)
                        TABLE 105 ASIA PACIFIC: LED LIGHTING MARKET, BY INSTALLATION, 2020–2023 (USD BILLION)
                        TABLE 106 ASIA PACIFIC: LED LIGHTING MARKET, BY INSTALLATION, 2024–2029 (USD BILLION)
                        TABLE 107 ASIA PACIFIC: LED LIGHTING MARKET, BY COUNTRY, 2020–2023 (USD BILLION)
                        TABLE 108 ASIA PACIFIC: LED LIGHTING MARKET, BY COUNTRY, 2024–2029 (USD BILLION)
             11.4.2 CHINA
                        11.4.2.1 Growing economy and increasing implementation of sensors in industrial applications to propel market
             11.4.3 JAPAN
                        11.4.3.1 Infrastructural developments to accelerate market growth
             11.4.4 INDIA
                        11.4.4.1 Government-run smart city projects to boost demand for LED lighting and control solutions
             11.4.5 AUSTRALIA
                        11.4.5.1 High penetration rate of LED lighting systems in major cities to foster market growth
             11.4.6 SOUTH KOREA
                        11.4.6.1 Presence of major LED lighting manufacturers to support market growth
             11.4.7 REST OF ASIA PACIFIC
     11.5 REST OF THE WORLD (ROW) 
             11.5.1 ROW: RECESSION IMPACT
                        TABLE 109 ROW: LED LIGHTING MARKET, BY PRODUCT TYPE, 2020–2023 (USD BILLION)
                        TABLE 110 ROW: LED LIGHTING MARKET, BY PRODUCT TYPE, 2024–2029 (USD BILLION)
                        TABLE 111 ROW: LED LIGHTING MARKET, BY SALES CHANNEL, 2020–2023 (USD BILLION)
                        TABLE 112 ROW: LED LIGHTING MARKET, BY SALES CHANNEL, 2024–2029 (USD BILLION)
                        TABLE 113 ROW: LED LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD BILLION)
                        TABLE 114 ROW: LED LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD BILLION)
                        TABLE 115 ROW: LED LIGHTING MARKET, BY INSTALLATION, 2020–2023 (USD BILLION)
                        TABLE 116 ROW: LED LIGHTING MARKET, BY INSTALLATION, 2024–2029 (USD BILLION)
                        TABLE 117 ROW: LED LIGHTING MARKET, BY SUBREGION, 2020–2023 (USD BILLION)
                        TABLE 118 ROW: LED LIGHTING MARKET, BY SUBREGION, 2024–2029 (USD BILLION)
             11.5.2 MIDDLE EAST
                        11.5.2.1 Eco-friendly green building regulations and streetlight retrofitting programs to spur market growth
                        11.5.2.2 GCC Countries
                        11.5.2.3 Rest of Middle East
                                     TABLE 119 MIDDLE EAST: LED LIGHTING MARKET, BY SUBREGION, 2020–2023 (USD BILLION)
                                     TABLE 120 MIDDLE EAST: LED LIGHTING MARKET, BY SUBREGION, 2024–2029 (USD BILLION)
             11.5.3 AFRICA
                        11.5.3.1 Ongoing urbanization to significantly boost demand for LED lighting solutions
 
12 COMPETITIVE LANDSCAPE (Page No. - 172)
     12.1 INTRODUCTION 
     12.2 KEY PLAYER STRATEGIES/RIGHT TO WIN 
             TABLE 121 OVERVIEW OF STRATEGIES DEPLOYED BY KEY PLAYERS IN LED LIGHTING MARKET
             12.2.1 PRODUCT PORTFOLIO
             12.2.2 REGIONAL FOCUS
             12.2.3 MANUFACTURING FOOTPRINT
             12.2.4 ORGANIC/INORGANIC GROWTH STRATEGIES
     12.3 MARKET SHARE ANALYSIS 
             TABLE 122 LED LIGHTING MARKET: DEGREE OF COMPETITION (FRAGMENTED)
     12.4 REVENUE ANALYSIS OF KEY PLAYERS 
             FIGURE 54 REVENUE ANALYSIS OF KEY PLAYERS IN LED LIGHTING MARKET, 2018–2022
     12.5 COMPANY VALUATION AND FINANCIAL METRICS 
             FIGURE 55 COMPANY VALUATION, 2022 (USD BILLION)
             FIGURE 56 FINANCIAL METRICS (EV/EBITDA), 2022
     12.6 BRAND/PRODUCT COMPARISON 
             FIGURE 57 BRAND/PRODUCT COMPARISON
     12.7 COMPANY EVALUATION MATRIX FOR KEY PLAYERS 
             12.7.1 STARS
             12.7.2 PERVASIVE PLAYERS
             12.7.3 EMERGING LEADERS
             12.7.4 PARTICIPANTS
                        FIGURE 58 LED LIGHTING MARKET: COMPANY EVALUATION MATRIX FOR KEY PLAYERS, 2023
             12.7.5 COMPANY FOOTPRINT
                        TABLE 123 OVERALL COMPANY FOOTPRINT
                        TABLE 124 COMPANY PRODUCT TYPE FOOTPRINT
                        TABLE 125 COMPANY APPLICATION FOOTPRINT
                        TABLE 126 COMPANY REGIONAL FOOTPRINT
     12.8 COMPANY EVALUATION MATRIX FOR START-UPS/SMES 
             12.8.1 PROGRESSIVE COMPANIES
             12.8.2 RESPONSIVE COMPANIES
             12.8.3 DYNAMIC COMPANIES
             12.8.4 STARTING BLOCKS
                        FIGURE 59 LED LIGHTING MARKET: COMPANY EVALUATION MATRIX FOR START-UPS/SMES, 2023
             12.8.5 COMPETITIVE BENCHMARKING
                        TABLE 127 LIST OF START-UPS/SMES
                        TABLE 128 COMPETITIVE BENCHMARKING OF OTHER PLAYERS (START-UPS/SMES)
                        TABLE 129 KEY START-UPS IN LED LIGHTING MARKET
     12.9 COMPETITIVE SCENARIO AND TRENDS 
             12.9.1 PRODUCT LAUNCHES & DEVELOPMENTS
                        TABLE 130 LED LIGHTING MARKET: PRODUCT LAUNCHES & DEVELOPMENTS, MARCH 2020–DECEMBER 2023
             12.9.2 DEALS
                        TABLE 131 LED LIGHTING MARKET: DEALS, OCTOBER 2020–SEPTEMBER 2023
             12.9.3 OTHERS
                        TABLE 132 LED LIGHTING MARKET: OTHERS, FEBRUARY 2020–AUGUST 2023
 
13 COMPANY PROFILES (Page No. - 204)
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*  
     13.1 KEY PLAYERS 
             13.1.1 SIGNIFY HOLDING
                        TABLE 133 SIGNIFY HOLDING: BUSINESS OVERVIEW
                        FIGURE 60 SIGNIFY HOLDING: COMPANY SNAPSHOT
                        TABLE 134 SIGNIFY HOLDING: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 135 SIGNIFY HOLDING: PRODUCT LAUNCHES
                        TABLE 136 SIGNIFY HOLDING: DEALS
                        TABLE 137 SIGNIFY HOLDING: OTHERS
             13.1.2 ACUITY BRANDS, INC.
                        TABLE 138 ACUITY BRANDS, INC.: BUSINESS OVERVIEW
                        FIGURE 61 ACUITY BRANDS, INC.: COMPANY SNAPSHOT
                        TABLE 139 ACUITY BRANDS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 140 ACUITY BRANDS, INC.: PRODUCT LAUNCHES
                        TABLE 141 ACUITY BRANDS, INC.: DEALS
             13.1.3 PANASONIC HOLDINGS CORPORATION
                        TABLE 142 PANASONIC HOLDINGS CORPORATION: BUSINESS OVERVIEW
                        FIGURE 62 PANASONIC HOLDINGS CORPORATION: COMPANY SNAPSHOT
                        TABLE 143 PANASONIC HOLDINGS CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 144 PANASONIC HOLDINGS CORPORATION: PRODUCT LAUNCHES
                        TABLE 145 PANASONIC HOLDINGS CORPORATION: DEALS
                        TABLE 146 PANASONIC HOLDINGS CORPORATION: OTHERS
             13.1.4 AMS-OSRAM AG
                        TABLE 147 AMS-OSRAM AG: BUSINESS OVERVIEW
                        FIGURE 63 AMS-OSRAM AG: COMPANY SNAPSHOT
                        TABLE 148 AMS-OSRAM AG: PRODUCTS/SERVICES/SOLUTIONS OFFERED
                        TABLE 149 AMS-OSRAM AG: PRODUCT LAUNCHES
                        TABLE 150 AMS-OSRAM AG: DEALS
             13.1.5 LG ELECTRONICS
                        TABLE 151 LG ELECTRONICS: BUSINESS OVERVIEW
                        FIGURE 64 LG ELECTRONICS: COMPANY SNAPSHOT
                        TABLE 152 LG ELECTRONICS: PRODUCTS/SERVICES/SOLUTIONS OFFERED
                        TABLE 153 LG ELECTRONICS: PRODUCT LAUNCHES
                        TABLE 154 LG ELECTRONICS: DEALS
             13.1.6 CREE LIGHTING USA LLC
                        TABLE 155 CREE LIGHTING USA LLC: BUSINESS OVERVIEW
                        TABLE 156 CREE LIGHTING USA LLC: PRODUCTS/SERVICES/SOLUTIONS OFFERED
                        TABLE 157 CREE LIGHTING USA LLC: PRODUCT LAUNCHES
                        TABLE 158 CREE LIGHTING USA LLC: DEALS
             13.1.7 DIALIGHT
                        TABLE 159 DIALIGHT: BUSINESS OVERVIEW
                        FIGURE 65 DIALIGHT: COMPANY SNAPSHOT
                        TABLE 160 DIALIGHT: PRODUCTS/SERVICES/SOLUTIONS OFFERED
                        TABLE 161 DIALIGHT: PRODUCT LAUNCHES
             13.1.8 HUBBELL (PART OF GE CURRENT)
                        TABLE 162 HUBBELL: BUSINESS OVERVIEW
                        FIGURE 66 HUBBELL: COMPANY SNAPSHOT
                        TABLE 163 HUBBELL: PRODUCTS/SERVICES/SOLUTIONS OFFERED
                        TABLE 164 HUBBELL: DEALS
             13.1.9 ZUMTOBEL GROUP
                        TABLE 165 ZUMTOBEL GROUP: BUSINESS OVERVIEW
                        FIGURE 67 ZUMTOBEL GROUP: COMPANY SNAPSHOT
                        TABLE 166 ZUMTOBEL GROUP: PRODUCTS/SERVICES/SOLUTIONS OFFERED
                        TABLE 167 ZUMTOBEL GROUP: PRODUCT LAUNCHES
             13.1.10 SAVANT SYSTEMS, INC.
                        TABLE 168 SAVANT SYSTEMS, INC.: BUSINESS OVERVIEW
                        TABLE 169 SAVANT SYSTEMS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED
                        TABLE 170 SAVANT SYSTEMS, INC.: PRODUCT LAUNCHES
                        TABLE 171 SAVANT SYSTEMS, INC.: DEALS
     13.2 OTHER COMPANIES 
             13.2.1 CURRENT LIGHTING SOLUTIONS, LLC
             13.2.2 SAMSUNG
             13.2.3 SHARP CORPORATION
             13.2.4 SITECO GMBH (GE)
             13.2.5 HAVELLS INDIA LTD.
             13.2.6 TRILUX GMBH & CO. KG
             13.2.7 FAGERHULTS BELYSNING AB
             13.2.8 SYSKA
             13.2.9 GOGREENLED
             13.2.10 FOREST LIGHTING
             13.2.11 EVERLIGHT ELECTRONICS CO., LTD.
             13.2.12 WIPRO LIGHTING
             13.2.13 OPPLE LIGHTING CO., LTD.
             13.2.14 NVC LIGHTING LTD. (SUBSIDIARY OF NVC INTERNATIONAL HOLDINGS)
             13.2.15 SORAA
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.  
 
14 APPENDIX (Page No. - 264)
     14.1 DISCUSSION GUIDE 
     14.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 
     14.3 CUSTOMIZATION OPTIONS 
     14.4 RELATED REPORTS 
     14.5 AUTHOR DETAILS 
 
 

This research elucidates the approach used to compile this report on the LED Lighting Market. The study employs two fundamental information sources, secondary and primary sources, which collectively provide a comprehensive, technical, and commercial analysis of the LED Lighting Market. Secondary sources encompass data derived from sources like company websites, publications, industry associations, and databases such as OneSource, Factiva, and Bloomberg. Additionally, primary sources were tapped, including insights from key opinion leaders spanning various sectors, experts from governmental entities and associations, preferred suppliers, LED Lighting manufacturers, distributors, technology experts, subject matter specialists (SMEs), C-level executives of prominent firms, and industry consultants. These interviews were instrumental in acquiring, validating, and comprehending crucial information and in gauging the future prospects and trends within the LED Lighting Market. Key market players were identified through secondary research, and their market positioning was assessed via a combination of primary and secondary research methods. Furthermore, this research integrated an examination of the annual reports of market participants to pinpoint the leading players in the LED Lighting Market.

Secondary Research

In the secondary research phase, we referred to a variety of secondary sources to identify and collect pertinent information for this LED Lighting Market study. These secondary sources encompassed materials such as companies' annual reports, press releases, and investor presentations, as well as white papers, accredited publications, and articles authored by recognized experts. We also consulted directories and databases. The global size of the LED Lighting Market was determined through secondary data obtained from both paid and freely available sources. This involved evaluating the product portfolios of leading companies and assessing the quality of their offerings. The secondary research process was instrumental in gathering essential data related to the industry's supply chain, the financial aspects of the market, the total count of major market players, and the segmentation of the market in alignment with industry trends down to the most granular level, including geographic markets. Furthermore, this phase allowed for the identification and examination of industry trends and significant developments from both market and technology perspectives.

Primary Research

In the primary research phase, we conducted interviews with a range of primary sources to acquire both qualitative and quantitative data concerning the market in four primary regions: Asia Pacific, North America, Europe, and RoW (comprising the Middle East, Africa, and South America). On the supply side, primary sources included industry experts occupying various roles such as CEOs, vice presidents, marketing directors, technology directors, and other key executives from major companies and organizations operating within the LED Lighting Market or closely related sectors. This primary research was instrumental in gathering, verifying, and validating critical data that had been sourced from other channels following the market engineering phase.

Primary research also served to identify various market segments, industry trends, key players, the competitive landscape, and the pivotal market dynamics, encompassing factors such as drivers, constraints, opportunities, and challenges, as well as the key strategies adopted by market players. The majority of the primary interviews focused on engaging with the supply side of the market, and the collection of this primary data was carried out through questionnaires, email correspondence, and telephonic interviews.

LED Lighting Market
 Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The market engineering process extensively employed both top-down and bottom-up approaches. Additionally, a range of data triangulation methods played a crucial role in conducting market forecasting and estimating values for both the overall market segments and their sub-segments, as detailed in the report. To extract vital insights throughout the report, multiple qualitative and quantitative analyses were executed within the market engineering process.

In the identification of key players within the LED Lighting Market, secondary research was instrumental. The revenues generated by these key players were determined through a combination of primary and secondary research methods. Their revenue figures were further dissected by geographical regions and market segments, leveraging financial statements and an analysis of the annual reports released by these prominent market players. Interviews with CEOs, VPs, directors, and marketing executives were also conducted to enrich our understanding of the key players and their role in the LED Lighting Market. Market shares, a critical aspect of the analysis, were estimated using a blend of secondary and primary research. This data was then consolidated, enhanced with comprehensive insights and analysis provided by MarketsandMarkets, and is presented in this report.

Global LED Lighting Market Size: Bottom-Up Approach

LED Lighting Market
 Size, and Bottom-Up Approach

Global LED Lighting Market Size: Top-Down Approach

LED Lighting Market
 Size, and Top-Down Approach

Data Triangulation

Following the determination of the comprehensive market size through the previously described market size estimation process, the entire market was subsequently divided into multiple segments and sub-segments. To accomplish this and attain precise statistical data for all segments and sub-segments, the market engineering process employed a data triangulation method. This triangulation involved a thorough examination of diverse factors and trends originating from both the demand and supply aspects of the market. In addition to this, the market's accuracy and reliability were substantiated through a combination of both top-down and bottom-up approaches.

Market Definition

A light-emitting diode (LED) is a semiconductor light source formed from a p–n junction diode. It emits light when a suitable voltage is applied across its leads. An LED lighting system is formed by integrating LED devices into a lamp to be used as a light bulb or light source in a lighting fixture. LED lighting solutions consist of high-efficiency fixtures and associated controls such as drivers and dimming switches, which adjust the lighting based on factors such as occupancy and daylight. LED lighting is increasingly implemented to control growing energy consumption in buildings and outdoor areas. Robust development is expected in smart lighting technology that involves the extensive use of LEDs and smart electronic components, such as sensors, and other semiconductor components.

Stakeholders

  • Raw material and wafer suppliers
  • System integrators
  • LED component manufacturers
  • Original equipment manufacturers (OEMs)
  • Integrated device manufacturers (IDMs)
  • Original design manufacturers (ODMs)
  •  IoT components, AI-based services, and software providers
  • Assembling, testing, and packaging services providers
  • Suppliers and distributors
  • Governments and other regulatory bodies
  • Research institutes and organizations
  • Market research and consulting firms

Study Objectives

  • To describe and forecast the size of the LED lighting market based on product type, application, installation, sales channel, and region, in terms of value
  • To forecast the size of the LED lighting market based on installation and sales channel segments, in terms of value
  • To forecast the size of the LED lighting market based on product type, in terms of volume
  • To describe and forecast the market for four main regions, namely, the Americas, Asia Pacific, Europe, and Rest of the World (RoW), in terms of value
  • To provide detailed information regarding the drivers, restraints, opportunities, and challenges influencing the growth of the market
  • To provide a detailed overview of the value chain of the LED lighting ecosystem, along with the average selling prices of product types
  • To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and their contributions to the overall market
  • To strategically analyze the ecosystem, Porter’s five forces, regulations, patent landscape, trade landscape, and case studies pertaining to the market under study
  • To analyze opportunities in the market for the stakeholders by identifying high-growth segments in the market
  • To strategically profile the key players and provide a detailed competitive landscape of the LED lighting market
  • To analyze strategic approaches adopted by the leading players in the LED lighting market, including product launches/developments/collaborations/partnerships/expansions, and mergers & acquisitions

Available Customizations:

With the given market data, MarketsandMarkets offers customizations based on the specific requirements of companies. The following customization options are available for the report:

Company Information

  • Market size based on different subsegments of the LED Lighting Market
  • Detailed analysis and profiling of additional market players (up to five)
Custom Market Research Services

We will customize the research for you, in case the report listed above does not meet with your exact requirements. Our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions.

Request Customization

Instant Answers with GPT - Ask Now!

Ask real questions. Get complete answers !
Report Code
SE 4912
Published ON
Feb, 2024
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the LED Lighting Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
CUSTOMIZED WORKSHOP REQUEST
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
©2024 MarketsandMarkets Research Private Ltd. All rights reserved
DMCA.com Protection Status Website Feedback