LED Lighting Market size worth USD 26.86 Billion by 2035

New York – October 19, 2022 - Research Nester’s recent market research analysis on LED Lighting Market: Global Demand Analysis & Opportunity Outlook 2035delivers a detailed competitor’s analysis and a detailed overview in terms of market segmentation by product, application, sales channel, end-user, and by region.

The global market for LED lighting is anticipated to grow owing to the rising adoption of LED lighting in the residential, commercial & industrial sectors. Due to its energy efficiency, extended lifespan, cost savings, environmental advantages, technological breakthroughs, favorable governmental laws, design flexibility, and enhanced light quality, LED lighting is becoming more and more popular in the residential, commercial, and industrial sectors. These elements have made LED lighting the lighting of choice for many applications, resulting in its extensive integration across numerous industries.

Additionally, manufacturers have started to cut costs without compromising quality. As a result, homes are a viable option for LED lighting applications. By using LED lamps, residential owners can also save money. LED lights are energy-efficient and have a long lifespan. Many homes are constantly looking for ways to be more ecologically friendly. Since they are recyclable and free of mercury, LEDs offer this.

Access our detailed report at: “Global LED Lighting Market” revenue is expected to grow USD 26.86 Billion by 2035, rising adoption of led lighting in residential, commercial & industrial sectors to boost the growth of the industry Access our detailed report at: https://www.researchnester.com/reports/led-lighting-market/5269

Compared to conventional lighting options like incandescent or fluorescent bulbs, LED lighting solutions can be more expensive upfront. Even though LED lights last longer and offer long-term cost savings, their greater initial cost may deter some consumers from making the move. As a result, this component can prevent market growth.  

By Application, the LED Lighting Market is segmented into indoor and outdoor. Amongst these segments, the outdoor segment is expected to grow at the largest CAGR of 14.4 % over the forecast period. With outdoor LED systems, the direction of the light is simply adjustable. Due to the necessity for fire hazards like reflectors or blinds to be removed, this makes them a safer method. As a result, LEDs are a more cost-effective option for exposed lightbulbs and recessed lighting because they don't need as much illumination as incandescent systems. They can operate in temperatures that other light sources cannot, including those that are extremely hot and cold.

By region, the Asia Pacific excluding Japan market for LED lighting is expected to grow at the highest CAGR of 15.1% over the forecast period. The growing government initiatives for smart cities are estimated to boost the growth of the market in this region. Moreover, this region’s government is also focusing on rural development by constructing roads and setting up LED lights which would also encourage market growth in this region.

This report also provides the existing competitive scenario of some of the key players of the global market which includes company profiling of Acuity Brands, Inc., Cree Lighting, Dialight, Digital Lumens, Incorporated, Hubbell, LSI Industries Inc, Siteco GmbH, Signify Holding, Seoul Semiconductor Co., Ltd., Zumtobel Group AG, Panasonic Corporation, Koizumi Lighting Technology Corp, ATEX Co., Ltd, Nichia Corporation, and others. 

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