LED Lighting Market

LED Lighting Companies - Signify Holding (Netherlands) and Acuity Brands, Inc.(US) are the Key Players

The LED Lighting Market is projected to reach USD 118.4 billion by 2029 from USD 78.9 billion in 2024; it is expected to grow at a CAGR of 8.5% from 2024 to 2029.

A light-emitting diode (LED) constitutes a semiconductor light source derived from a p-n junction diode, emitting light upon the application of an appropriate voltage across its leads. The construction of an LED lighting system involves the incorporation of LED devices into a lamp, serving as a light bulb or light source within a lighting fixture. LED lighting solutions encompass high-efficiency fixtures and accompanying controls, such as drivers and dimming switches, allowing for adaptable lighting based on factors like occupancy and daylight. The adoption of LED lighting is progressively on the rise as a strategy to manage escalating energy consumption in both indoor and outdoor spaces. Anticipated advancements in smart lighting technology are poised for significant growth that involves extensive integration of LEDs and intelligent electronic components such as sensors and other semiconductor elements. Increasing adoption of LED bulbs and luminaires across the world to achieve net-zero emissions by 2050, and increasing demand for LED lighting systems in residential interior designing and home décor applications are some of the factors contributing to the growth of LED Lighting Market.  

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Major LED Lighting companies 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)
  • Zumtobel Group (Germany)

The prominent market players in the LED Lighting Market include 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), and Savant Systems, Inc. (US).

Signify Holding (Netherlands)

Signify Holding stands as a prominent force in the lighting solutions sector, recognized for its extensive portfolio of diverse commercial offerings, positioning it at the forefront of the industry. Bolstered by a robust brand reputation and a global distribution network, the company is committed to fostering both organic and inorganic growth strategies. Furthermore, Signify places significant emphasis on product innovation and launches to broaden its product range, as well as to access emerging technologies and markets. The organization delivers its offerings through three distinct segments: Digital Products, Digital Solutions, and Conventional Products. Within the Digital Products segment, the company markets a diverse range of LED lamps, encompassing spots, bulbs, and tubes, as well as functional LED luminaires. Furthermore, it supplies LED electronic components, such as LED drivers and modules, to original equipment manufacturers (OEMs) for professional luminaire applications in retail, office, industry, and outdoor settings. The company's professional-grade products, systems, and services find application in various indoor environments such as offices, commercial buildings, retail outlets, hospitality venues, industrial facilities, and agricultural spaces, along with outdoor settings including smart cities.

The company's growth strategy prioritizes a comprehensive understanding of evolving customer needs and endeavors to enhance product visibility to attract new clientele. Centralizing its global sales and strategic marketing operations, the company ensures efficiency and cohesion. With a varied customer base, the company mitigates risks associated with singular market dependencies, setting it apart from industry rivals. It has a presence in over 70 countries and serves its customers considering their needs. The company strongly focuses on innovation and has approximately 17,750 patents under its name for research and development, it has partnered with more than 100 universities.

Acuity Brands, Inc. (US)

Acuity Brands, Inc. holds a prominent position within the LED lighting sector, boasting a formidable array of lighting solutions under established brand names. Demonstrating proactive engagement, the company pursues strategic partnerships and acquisitions to fortify its product line and broaden its market presence. As a component of its overarching business strategy, Acuity Brands has undertaken the integration of multiple business verticals to enhance operational efficacy. Operating through its two key business segments, Acuity Brands, Inc. is a leading player in the global lighting market. The company, divided into Acuity Brands Lighting and Lighting Controls (ABL) and Intelligent Spaces Group (ISG), specializes in designing, manufacturing, and offering services to create a more illuminated, productive, and connected world. Within ABL, the portfolio encompasses a range of lighting solutions, from commercial and architectural to specialty lighting, as well as lighting controls and components that can be integrated into comprehensive lighting control systems. The company's products, such as luminaires primarily leveraging light-emitting diode (LED) technology, are designed for optimized energy efficiency and comfort across various settings, including residential and architectural buildings, offices, and outdoor events.

The company is dedicated to pursuing organic growth strategies, with a keen emphasis on refreshing and advancing its successful product lines to meet the dynamic requirements of its clientele. Acuity Brands' strategic acquisition of OSRAM's North American Digital Business is anticipated to significantly augment its collection of LED drivers and associated technologies. Moreover, the company is consistently involved in forming strategic partnerships to bolster its market position.  The company actively engages in strategic partnerships and acquisitions to enhance its product range and extend its reach across diverse geographical regions. As part of its business strategy, Acuity Brands has undergone the integration of multiple business verticals, aiming to achieve heightened operational efficiency. Marketing a diverse portfolio of lighting products under various brands, the company places a significant emphasis on establishing a robust distribution network globally, with the intention of fortifying its presence and sales channels worldwide. The company has a widespread global presence with operations in North America, Europe, and Asia, enabling it to tap into diverse markets.

LG Electronics (South Korea)

LG Electronics, formerly identified as Lucky-Goldstar from 1983 to 1995, stands as a South Korean multinational conglomerate corporation established by Koo In-hwoi and overseen by successive generations of his family. Renowned as a global trailblazer in technology and consumer electronics, LG Electronics boasts a ubiquitous presence across almost every country and a diverse international workforce exceeding 75,000 individuals. The company is structured into seven distinct business segments: Home Appliance & Air Solution (H&A), Home Entertainment (HE), Mobile Communications (MC), Vehicle Component (VC) Solutions, Business Solutions (BS), Innotek, and Other Segment.

The Home Appliance & Air Solution segment is responsible for the production and sale of refrigerators, washing machines, vacuum cleaners, and air conditioners. Concurrently, the Home Entertainment segment is engaged in the manufacturing and sale of TVs and digital media products. Additionally, the Mobile Communications segment specializes in the sale of mobile communication equipment, while the Business Solutions segment deals in monitors, PCs, information displays, solar panels, and related products. LG Innotek Co., Ltd. is dedicated to the manufacturing and sale of LEDs, optic solutions, substrate materials, and automotive components. The Vehicle Component Solutions (VS) segment focuses exclusively on solutions for automotive components. The Other Segment encompasses the production and manufacturing of equipment products.

LG group’s notable subsidiaries comprise LG Electronics, Zenith, LG Display, LG Uplus, LG Innotek, LG Chem, and LG Energy Solution. The company has a widespread presence across over 80 countries in North America, Europe, South America, Asia, and the Middle East & Africa.

LG Electronics, a prominent technology corporation, boasts diversified business operations that effectively mitigate risks. With a robust presence in various regions, the company is renowned for its innovative product portfolio. Notably, LG has reinforced its sales channels globally through strategic partnerships with numerous local distributors and retailers. This initiative aims to bolster the company's market influence across multiple geographic locations, enhancing its competitive edge in the LED lighting market. Ultimately, this strategic approach is anticipated to contribute to a more substantial market share for LG in the forthcoming years. LG Electronics is known for its commitment to innovation and technology, which can be a strength in developing cutting-edge LED lighting products.

The corporation allocates a substantial portion of its revenue towards research and development (R&D) and enhancing manufacturing processes to facilitate new initiatives. A pivotal strategy involves diversifying the technological capacities of manufacturing plants, thereby enhancing overall flexibility and operational efficiency. Additionally, the company forges robust partnerships with key customers, collaborators, suppliers, and renowned universities globally. This collaborative effort is aimed at gaining comprehensive insights into products and their applications, spanning residential buildings, commercial spaces, and outdoor areas. Adopting agile and flexible manufacturing processes allows LG Electronics to quickly adapt to changes in market demand and technological advancements.

ams-OSRAM AG (Austria)

ams-OSRAM AG, with its longstanding tenure in the LED lighting sector, is globally acknowledged as a distinguished brand. The company boasts a substantial global presence, underpinned by a robust sales and distribution network. It places a strong emphasis on collaborations to sustain its market standing. The organization benefits from a geographically diversified revenue stream, ensuring it is not overly dependent on any single client or region for its earnings. Following the amalgamation of OSRAM and the ams brand, the merged entity, known as ams OSRAM, has emerged as a global leader in the fields of sensor solutions and photonics technology. The company operates through its 2 segments which are Semiconductors and Lamps & systems segment. The Semiconductors division comprises semiconductor-based offerings, encompassing high-performance LEDs, LED lighting products, lasers, and optical sensors tailored for clients within the automotive, consumer, and industrial sectors. The Lamps & Systems segment involves traditional lamps and lighting systems, emphasizing applications in the automotive, industrial, and medical markets.

Following its acquisition by the ams group, the company has strategically prioritized the divestiture of its non-performing business units. This initiative is part of ams group's broader strategy to concentrate on its core business operations, leading to the sale of several OSRAM divisions. Notably, the management executed the sale of the distinct entity, Automotive Lighting Systems GmbH (AMLS), to Plastic Omnium. Additionally, in June 2021, the company effectively divested its North America-based Digital Systems (DS) business unit to Acuity Brands, further aligning with its strategic focus on core competencies. ams OSRAM AG maintains a well-balanced revenue mix across various geographies, avoiding overdependence on a single client or region for revenue generation. The integration of OSRAM and ams has culminated in the formation of ams OSRAM AG, positioning the entity as a global leader in sensor solutions and photonics technology.

Panasonic Corporation (Japan)

Panasonic Corporation, formerly recognized as Matsushita Electric Industrial Co., Ltd., stands as a prominent Japanese multinational conglomerate. Established in 1918 by Konosuke Matsushita as a manufacturer of lightbulb sockets, Panasonic has evolved into a diversified company offering an extensive array of products and services. These include rechargeable batteries, automotive solutions, avionics systems, industrial systems, as well as products for home renovation and construction.

Panasonic Corporation operates across five key business divisions: Lifestyle, Automotive, Connect, Industry, and Energy. Lifestyle segment offers living appliances such as refrigerators and rice cookers, Heating and ventilation products, cold chain solutions, electric works products such as LED lighting products, lighting fixtures, lamps, wiring devices, solar photovoltaic systems, fuel cells. Under automotive segment, it offers automotive cockpit systems, and automotive electronics systems. Under Connect segment, avionics products, process automation products, media entertainment, mobile solutions, Gemba solutions, and Blue Yonder are offered. Under Industry segment, it offers electronic devices, FA solutions, electronic materials. Under Energy segment, in-vehicle and industrial/consumer products.

Panasonic Corporation maintains a global presence spanning 76 countries across Europe, the Americas, Asia, Africa, and the Middle East. Notable subsidiaries within its network include Sanyo (Japan), Panasonic UK Ltd (UK), and Panasonic Australia.

Related Reports:

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

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LED Lighting Market Size,  Share & Growth Report
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