Growing Popularity of Smart LED Lighting Solutions is Observed as a Key Trend of LED Lighting Market

As per a research conducted by P&S Intelligence, the global light-emitting diode (LED) lighting market is predicted to reach a value of $262.8 billion by 2030, and is projected to progress at a 12.9% CAGR during the time period 2020–2030. The market is being driven by the reducing prices of LEDs and increasing adoption of energy-efficient solutions across the globe. On the basis of application, the market is divided into outdoor and indoor. 

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Between the two, the indoor division is predicted to grow at a faster pace in the years to come, which can be attributed to the rising requirement for LED lighting solutions for residential applications in countries including the U.A.E., the U.S., India, and China. The construction industry in these countries is registering significant growth, owing to the increasing focus on smart city projects, majorly in Asia-Pacific (APAC) and European regions. 

The objective of this research includes;

• Historical and the present size of the LED lighting market
• Future potential of the market through its forecast for the period 2020– 2030
• Historical and the present size of the market segments and understand their comparative future potential
• Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
• Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
• Major players operating in the gene therapy market and their service offerings
• Recent strategic developments by the major players in the market

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Geographically, the APAC region dominated the LED lighting market in 2019 and is expected to account for the major share of the market in the years to come as well. The major reason for this is the rising demand for these lighting solutions from the residential sector in South Korea, China, and India. In addition to this, growing disposable income of people and swift urbanization in the region are also resulting in the growing adoption of energy-efficient lighting solutions, including LED lights. 

The research includes detailed analysis of;

Based on Product Type

• Luminaire
• Lamp

Based on Installation Type

• New
• Retrofit
  • A-lamp
  • T-lamp
  • Reflector

Based on Application

• Indoor
  • Residential
  • Commercial
  • Industrial
• Outdoor
  • Highways
  • Streets
  • Stadiums
  • Parking lots
  • Tunnels

About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

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