San Francisco, Oct 26 The
global LED
lighting market size is expected to reach USD 108.99 billion by
2025, according to a new report by Grand View Research, Inc., and will register
a CAGR of 14.4% during the forecast period. Continuous development of
energy-saving capabilities, introduction of Standard Deviation Color Matching
(SDCM) control, and longer lifespan compared to CFL lamps have accelerated
demand for LED lamps at a global level. Introduction of smart/connected
lighting and its multiple uses in residential, commercial, and industrial
sectors has also spurred market growth.
Next-generation
lighting has become a substitute for incandescent bulbs due to its benefits
such as higher efficiency, low cost of operation, and reduced heat losses.
Technological advancements, shift from conventional to green lighting, enhanced
energy efficiency standards, and declining prices have also spurred demand.
Moreover, strict regulatory policies across U.S., European Union, China, and
Canada regarding conventional lighting and energy consumption are anticipated
to favor market demand over the coming years. Corresponding ratings and design
standards categorizing energy efficiency are also finding prevalence across
economies such as Japan and China.
The
indoor LED lighting segment held the largest share in 2016 and is anticipated
to register a comparatively lower growth rate from 2017 to 2025. High adoption
of light emitting diodes as an alternative to florescent, HID, and incandescent
lightings has paved the way for indoor lighting on a large scale.
Browse full research report on LED Lighting Market:
www.grandviewresearch.com/industry-analysis/led-lighting-market
Further key findings from the report suggest:
- The global
LED lighting market is expected to develop at a CAGR of 14.4% from 2017 to
2025
- OLED emerged
as the largest product segment in 2016 and is estimated to generate
revenue worth USD 58.0 billion by 2025
- Global LED
luminaires demand was valued at USD 10.63 billion in 2016 and is
anticipated to witness staggered growth over the course of the forecast
period
- The U.S. LED
architectural lighting market was valued at USD 0.79 billion in 2016 and
is anticipated to exhibit a CAGR of nearly 15.0% over the forecast period.
- The industry
in Asia Pacific is projected to witness substantial growth over the next
decade owing to tremendous demand for energy-efficient lighting in
residential and commercial sectors. The regional market is expected to
exhibit a CAGR of 15.4% from 2017 to 2025
- Key players
such as Koninklijke Philips Electronics N.V.; OSRAM GmbH; Cree, Inc.;
Eaton; and GE dominated the global LED lighting market, accounting for
about 59.0% of the total revenue in 2016.
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/electronic-devices
Grand
View Research has segmented the global LED lighting market on the basis of
product, design, application, and region:
LED
Lighting Product Outlook (Revenue, USD Million, 2014 - 2025)
- Basic LED
- High
brightness LED
- OLED
- Others
LED
Lighting Design Outlook (Revenue, USD Million, 2014 - 2025)
- Lamps
- A-Lamps
- MR-16
- Reflectors
- T-Lamps
- Others
- Luminaires
- Streetlights
- Downlights
- High Bays
- Troffers
- Track lights
- Suspended
pendants
- Others
LED
Lighting Application Outlook (Revenue, USD Million, 2014 - 2025)
- Indoor
- Commercial
- Residential
- Industrial
- Others
- Outdoor
- Architectural
- Public
places
- Others
LED
Lighting Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East
& Africa
Browse press release of this report
by Grand View Research: www.grandviewresearch.com/press-release/global-led-lighting-market
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company, registered
in the State of California and headquartered in San Francisco. The company
provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more information:
www.grandviewresearch.com
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