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LED Lighting Market 2019: Global Industry Report, Growth, Trends, Opportunities and Forecast till 2024

2019 global LED lighting industry market report

According to the latest report, the global LED lighting market reached a value of US$ 1.26 Billion in 2018. Looking forward, IMARC expects the market to reach a value of US$ 1.74 billion by 2024, growing at a CAGR of around 6% during the next five years.

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A light-emitting diode (LED) is a semiconductor, electroluminescence device that emits light when an electric current is passed through it. Cost-effectiveness, reliability, minimal power consumption, and a longer life-span are some of the key benefits offered by LED lights when compared with the conventional lighting systems, such as incandescent and compact fluorescent light (CFL) bulbs. Owing to these benefits, these lights find extensive applications in both the outdoor and indoor settings across various industry verticals, ranging from electronics to healthcare.

Global LED Lighting Market Trends:

The global market is driven by the rising environmental consciousness across the globe, which has led to an accelerated shift toward the adoption of energy-efficient lighting solutions. Furthermore, the implementation of favorable government policies promoting the utilization of LED lighting systems, along with significant investments by both the government and non-governmental sectors, is creating a positive impact on the market. Other factors, including technological advancements and the emerging trend of smart cities, are projected to drive the market further.

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Key Market Segmentation:

Performance of Key Regions

1. India
2. China
3. Europe
4. United States
5. Japan
6. Brazil
7. Russia

Market by Application

1. Retrofit
2. Retail and Hospitality
3. Outdoor
4. Offices
5. Architectural
6. Homes
7. Industry

Key highlights of the report:

Market Performance

Market Outlook

Porter’s Five Forces Analysis

Market Drivers and Success Factors

SWOT Analysis

Value Chain

Competitive Structure

Also read: Smart Lighting Companies in the World 2019

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About the author

IMARC

IMARC

IMARC is a leading market research company that provides market and business research intelligence across the globe. We partner with clients in all regions and industry verticals to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

We make an effort to fulfill specific and niche requirements of the industry while balancing the quantum of quality with stipulated time and trace major trends at both the domestic and global levels. The information products and services provided by IMARC cover major technological, scientific and economic developments in industrial, pharmaceutical and high technology organizations.