The International Market Analysis Research and Consulting Group is a leading adviser on management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, chemicals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
IMARC’s tailored approach combines unfathomable insight into the dynamics of companies and markets with close cooperation at all levels of the client organization. This ensures that our clients achieve unmatchable competitive advantage, build more proficient organizations, and secure lasting results.
The latest report by IMARC, titled “ LED Lighting Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-202
8
” " finds that the global LED lighting market size reached US$ 75.7 Billion in 2022. LEDs, short for lightemitting diodes, are tiny semiconductor devices that emit light when electric current flows through them.Theyareusedasalightingsourceinhomes,businesses,andindustrialsettingsduetotheirsmall size, long lifespan, quick switching capability, and low energy consumption. They also produce very little heat and have minimal radiation emissions, making them a superior alternative to traditional incandescent and fluorescent lights. As a result, LED lighting solutions are gaining immense traction acrosstheglobeastheyoffernumerousbenefitsoverconventionallightingsystems.
Request Free Sample Report: https://www.imarcgroup.com/led-manufacturing-plant/requestsample
Rising awareness about energy conservation represents the primary factor driving the market growth. Moreover, the increasing demand for power due to expanding population, changing climate conditions, and improving lifestyles are positively influencing market growth. Additionally, the surging adoption of energy-efficient LED lighting solutions owing to the high electricity cost resulting from a power production shortage has catalyzed market growth. Along with this, the shifting consumer inclination toward eco-friendly lighting and rising focus on sustainable development are other major growth-inducing factors. Besides this, several favorable initiatives by governments of numerous countries to promote energy-efficient technologies and ban inefficient lighting solutions are propelling market growth. Furthermore, the rising focus of key players on launching innovative LED lighting products and the increasing investments in marketing activities to boost product awareness among consumers has accelerated the product adoption rate. Apart from this, the rapid expansion of smart city projects that use LED lights as a key component of housing plans is contributing to the market growth. In addition, the rising use of LED lights in automotive, general lighting, signal and signage, healthcare, forensics, academics, mobile devices, and street lighting is creating a positive market outlook. Other factors, including rising construction activities in the commercial sector, increasing display backlighting applications, and rapid urbanization, are also anticipated to drive the market further. Looking forward, IMARC Group expects the market value to reach US$ 131 Billion by 2028, expanding at a CAGR of 9.8% during 20232028. Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
Market Summary:
Breakup by Application:
•Retrofit
•RetailandHospitality
•Outdoor
•Offices
•Architectural
•Homes
•Industrial
Regional Insights:
•India
•China
•Europe
•Japan
•Brazil
•Russia
•UnitedStates
Note: We are updating our reports, If you want latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report.
We are the trusted business partners to the world's leading corporates, governments, and institutions
We are the trusted business partners to the world's leading corporates, governments, and institutions
© 2019 IMARC All Rights Reserved
This Publication and all it’s contents unless otherwise mentioned are copyrighted in the name of International Market Analysis Research and Consulting (IMARC). No part of this publication may be reproduced, repackaged, redistributed or resold in whole or in any part. The publication may also not be used in any form or by and means graphic electronic or mechanical, including photocopying, recording, taping or by information storage or retrieval, or by any other form, without the express consent of International Market Analysis Research and Consulting (IMARC).
Disclaimer: All contents and data of this publication, including forecasts, data analysis and opinion have been based on information and sources believed to be accurate and reliable at the time of publishing. International Market Analysis Research and Consulting makes no representation of warranty of any kind as to the accuracy or completeness of any Information provided. IMARC accepts no liability whatsoever for any loss or damage resulting from opinion, errors or inaccuracies if any found this publication.
IMARC, IMARC Group and Global Therapy Insight Series are registered trademarks of International Market Analysis Research and Consulting. All other trademarks used in this publication are registered trademarks of their respective companies.
