Global LED Lighting market report, size, share, trends and forecast to 2028

According to Stratistics MRC, the Global LED Lighting Market is accounted for $62.4 billion in 2022 and is expected to reach $126.5 billion by 2028 growing at a CAGR of 12.5% during the forecast period.

A light-emitting diode (LED) is a semiconductor device that emits light when an electric current is conducted through it. When the current-carrying particles collide with one another inside the semiconductor material, light is created. The amount of energy needed for electrons to pass through semiconductors' band gaps determines the hue of light. A variety of hues, including red, yellow, blue, green, white, purple, bi-color, tri-color, and infrared, can be produced by an LED.

LED lighting has numerous advantages, including flexible technology, low maintenance, a variety of colours, long-lasting sturdiness, and more. Such elements are accelerating the use of LED lighting in a variety of applications. For instance, the typical estimated lifespan of an LED light bulb is 50,000 hours, compared to 10,000 hours and 1,200 hours for fluorescent and incandescent bulbs, respectively. Additionally, the average LED lamp uses 80% less energy than an incandescent lamp and 50% less than a fluorescent lamp. The usage of LED lights in domestic and commercial applications is growing as a result of improved performance of LED products.

By geography, Asia Pacific is projected to hold the largest market share during the forecast period owing to rapid infrastructure development activities in developing countries, coupled with increasing initiatives by the government related to energy saving is expected to increase demand for LED lighting. The rising construction sector in China, Japan, and India, as well as the existence of a sizable number of manufacturers operating in these nations with a focus on introducing new products, are factors anticipated to assist the regional market expansion.

Some of the key players profiled in the LED Lighting Market include Samsung Electronics Co., Ltd., Panasonic Corporation, Heliospectra AB, Zumtobel Group AG, Signify Holding B.V., Nichia Corporation, OSRAM Licht AG, Orient electric Ltd., Syska Led Lights Pvt Ltd., Dialight PLC, Lumileds Holding B.V., Acuity Brands Lighting Inc., General Electric Company, LSI Industries Inc., Semiconductor Co. Ltd., Eaton Corporation

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By Product Types:
• Lamps
• Luminaires

By Installations:
• Retrofit
• New

By Sales Channels:
• Direct Sales
• E-Commerce
• Retail/Wholesale

By Applications:
• Indoor
• Outdoor

By End Users:
• Commercial
• Industrial
• Residential
• Other End Users

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All the customers of this report will be entitled to receive one of the following free customization options:
● Company Profiling
● Comprehensive profiling of additional market players (up to 3)
● SWOT Analysis of key players (up to 3)
● Regional Segmentation
● Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
● Competitive Benchmarking
● Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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