According to a new market research report published by Global Insight Services “LED Lighting Market is expected to reach $134 bn by 2031, growing at a CAGR of 9.1% between 2021-2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
LED lighting is a type of lighting that uses light–emitting diodes (LEDs) as the source of light. LEDs are semiconductor devices that convert electrical energy into visible light. LED lighting is more energy–efficient and has a longer lifespan than traditional lighting such as incandescent and fluorescent lighting.
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Key Companies:
- Acuity Brands Lighting Inc.
- Dialight
- Hubbell
- Panasonic Corporation
- Siteco GmbH
- MIC Electronics Ltd.
Key Trends and Drivers:
- The growing number of smart city projects around the world is driving up demand for smart lighting solutions for highway and roadway applications. Governments in a number of nations, including India, Italy, Germany, and China, are focused on strategic partnerships to construct smart cities, thereby increasing market representation.
- The increased emphasis on environmental protection has a considerable impact on the lighting sector. Energy conservation has become one of the most prioritized implementation initiatives throughout the years, and LED lighting adoption contributes greatly to energy conservation.
- The growing acceptance of LEDs, as well as the development of LED drivers, are creating strong market potential for commercial interior lighting. Integration of Li-Fi technology in intelligent lighting is critical to the industry’s growth.
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Market Segments:
By Product:
- Lamps
- Luminaries
By Application:
- Commercial
- Residential
- Industrial
By Distribution Channel:
- Online
- Distributors
- Retailers
Reasons to buy LED Lighting Market Report:
- Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
- Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
- Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
- Develop business and M&A strategies through understanding of latest trends and emerging players in the market
- Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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Key Questions answered in the report:
- How is the market structured and what the key drivers and trends of this industry?
- How is the market segmented and what is the size of each segment?
- Which segments and geographies provide best growth opportunities?
- What’s the competitive landscape and positioning of players in this market?
- What is the impact of latest events such as Covid-19 and Russia-Ukraine conflict on the market?
About Global Insight Services:
Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.
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