Home > Semiconductors & Electronics > Lighting > LED > LED Lighting Market

LED Lighting Market Trends

Report ID: GMI8983
Published Date: Apr 2024
Report Format: PDF

Download Free Sample

LED Lighting Market Trends

Smart lighting technology continues to gain momentum, with increasing integration of LED lighting systems with IoT (Internet of Things) platforms and wireless connectivity. This trend enables remote control, automation, and customization of lighting settings, enhancing energy efficiency, convenience, and user experience. Smart lighting solutions offer features such as dimming control, color changing options, motion sensing, and integration with smart home ecosystems, driving adoption in residential, commercial, and industrial sectors. In May 2023, Osram announced the release of the OSLON Optimum family of LEDs in May 2022. These LEDs are based on the most recent ams Osram 1mm2 chip and are designed for horticulture lighting. They offer an exceptional combination of high efficiency, dependable performance, and great value.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

The market size for LED lighting was valued at USD 45.5 billion in 2023 and is estimated to register over USD 85.5 billion by 2032, driven by the increasing demand for energy-efficient lighting solutions.

The residential segment held 27% of the LED lighting market share in 2023, backed by the growing need for energy-efficient and cost-effective lighting solutions.

Asia Pacific market accounted for 37% revenue share in 2023, attributed to rapid urbanization, industrialization, and infrastructure development in countries like China, India, and Southeast Asian nations.

Acuity Brands, Inc., Cree Lighting USA LLC, Panasonic Corporation, SAVANT TECHNOLOGIES LLC, Seoul Semiconductor Co., Ltd., Signify Holding and Siteco GmbH.