DUBLIN--(BUSINESS WIRE)--The "Global LED Lighting Market, By Type (LED Bulbs and Lamps, Batten Lights, Downlights, Others), By Application (Outdoor Lighting and Indoor Lighting), By Installation Type, By End-Use, By Distribution Channel, By Region, Competition Forecast and Opportunities, 2026" report has been added to ResearchAndMarkets.com's offering.
The Global LED Lighting Market valued at USD66.83 billion in 2020 and is projected to grow with a CAGR of 3.73% to reach USD81.09 billion by 2026.
An increase in demand for the energy-efficient lighting system, reduction in LED product costs, and ongoing smart city construction projects going around the globe are the major factors driving the growth of the Global LED Lighting Market in the forecast period.
High-end investments made by leading authorities in research and development activities to find innovative solutions to lower the cost of LED lighting are creating lucrative opportunities for the growth of the Global LED Lighting Market. Organizations install LED lighting in their office premises to reduce electricity costs as LED lights are highly energy-efficient and consume less energy to provide maximum output.
The growing disposable income of consumers enables them to afford a quality lifestyle and upgrade to adopt the latest technologies for their indoor lighting. Growing internet penetration and proliferation of smart devices and the rise in awareness about using smart connected lighting systems that consumers can control using mobile devices from remote locations is expected to create enormous potential for the Global LED Lighting Market in the forecast period. However, lack of consumer awareness and using LED with incandescent fixtures may hinder the growth of the Global LED Lighting Market in the forecast period.
Objective of the Study:
Report Scope:
In this report, the Global LED Lighting Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Global LED Lighting Market, By Type:
Global LED Lighting Market, By Application:
Global LED Lighting Market, By Installation Type:
Global LED Lighting Market, By End-Use:
Global LED Lighting Market, By Distribution Channel:
Global LED Lighting Market, By Region:
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/cg0qyr
