1	INTRODUCTION	29
1.1	STUDY OBJECTIVES	29
1.2	MARKET DEFINITION	29
1.2.1	INCLUSIONS & EXCLUSIONS	30
1.3	STUDY SCOPE	31
1.3.1	MARKETS COVERED	31
FIGURE 1	LED LIGHTING MARKET SEGMENTATION	31
1.3.2	REGIONS COVERED	32
1.4	YEARS CONSIDERED	32
1.5	CURRENCY CONSIDERED	33
1.6	UNIT CONSIDERED	33
1.7	STAKEHOLDERS	33
1.8	SUMMARY OF CHANGES	34
1.8.1	IMPACT OF RECESSION	34
2	RESEARCH METHODOLOGY	35
2.1	RESEARCH DATA	35
FIGURE 2	LED LIGHTING MARKET: RESEARCH DESIGN	36
2.1.1	PRIMARY AND SECONDARY RESEARCH DATA	37
2.1.2	SECONDARY DATA	38
2.1.2.1	Key data from secondary sources	38
2.1.2.2	List of key secondary sources	38
2.1.3	PRIMARY DATA	39
2.1.3.1	Key data from primary sources	39
2.1.3.2	Key insights from industry experts	39
2.1.3.3	Breakdown of primary interviews	40
2.1.3.4	List of key primary interview participants	40
2.2	MARKET SIZE ESTIMATION	40
2.2.1	BOTTOM-UP APPROACH	41
FIGURE 3	MARKET SIZE ESTIMATION METHODOLOGY: BOTTOM-UP APPROACH	41
2.2.2	TOP-DOWN APPROACH	41
FIGURE 4	MARKET SIZE ESTIMATION METHODOLOGY: TOP-DOWN APPROACH	42
2.2.3	GROWTH RATE AND FORECAST ASSUMPTIONS	42
2.3	FACTOR ANALYSIS	43
2.3.1	SUPPLY-SIDE ANALYSIS	43
FIGURE 5	MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 1 (SUPPLY SIDE)—REVENUE GENERATED BY COMPANIES FROM PRODUCTS OFFERED IN LED LIGHTING MARKET	43
2.3.2	DEMAND-SIDE ANALYSIS	44
FIGURE 6	MARKET SIZE ESTIMATION METHODOLOGY: APPROACH 2 (DEMAND SIDE) FOR LED LIGHTING MARKET	44
2.4	DATA TRIANGULATION	45
FIGURE 7	DATA TRIANGULATION	45
2.5	LIMITATIONS AND RISK ASSESSMENT	46
2.6	IMPACT OF RECESSION	47
2.7	RESEARCH ASSUMPTIONS	47
3	EXECUTIVE SUMMARY	48
FIGURE 8	LAMPS SEGMENT TO ACCOUNT FOR LARGER MARKET SHARE DURING FORECAST PERIOD	49
FIGURE 9	NEW INSTALLATIONS SEGMENT TO ACCOUNT FOR LARGER MARKET DURING FORECAST PERIOD	49
FIGURE 10	RETAIL/WHOLESALE SEGMENT TO ACCOUNT FOR LARGEST MARKET DURING FORECAST PERIOD	50
FIGURE 11	OUTDOOR SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD	50
FIGURE 12	ASIA PACIFIC TO BE MOST LUCRATIVE MARKET DURING FORECAST PERIOD	51
4	PREMIUM INSIGHTS	52
4.1	ATTRACTIVE OPPORTUNITIES FOR KEY PLAYERS IN LED LIGHTING MARKET	52
FIGURE 13	INCREASING ADOPTION OF LED LAMPS AS SUBSTITUTE FOR CONVENTIONAL LAMPS TO DRIVE GROWTH OF LED LIGHTING MARKET	52
4.2	LED LIGHTING MARKET, BY PRODUCT TYPE	52
FIGURE 14	LAMPS SEGMENT TO ACCOUNT FOR LARGER MARKET DURING FORECAST PERIOD	52
4.3	LED LIGHTING MARKET, BY INSTALLATION	53
FIGURE 15	NEW INSTALLATIONS SEGMENT TO CAPTURE LARGER MARKET DURING FORECAST PERIOD	53
4.4	LED LIGHTING MARKET, BY LAMP TYPE	53
FIGURE 16	A-TYPE LAMPS SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD	53
4.5	LED LIGHTING MARKET, BY SALES CHANNEL	54
FIGURE 17	RETAIL/WHOLESALE SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD	54
4.6	LED LIGHTING MARKET, BY INDOOR APPLICATION	54
FIGURE 18	RESIDENTIAL SEGMENT TO HOLD LARGEST MARKET DURING FORECAST PERIOD	54
4.7	ASIA PACIFIC: LED LIGHTING MARKET, BY APPLICATION AND KEY COUNTRY	55
FIGURE 19	CHINA AND INDOOR SEGMENT TO ACCOUNT FOR SIGNIFICANT MARKET SHARES DURING FORECAST PERIOD	55
4.8	LED LIGHTING MARKET: REGIONAL ANALYSIS	55
FIGURE 20	INDIA TO BE LUCRATIVE MARKET DURING FORECAST PERIOD	55
 
5	MARKET OVERVIEW	56
5.1	INTRODUCTION	56
5.2	MARKET DYNAMICS	57
FIGURE 21	LED LIGHTING MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES	57
5.2.1	DRIVERS	57
5.2.1.1	Increasing use of smart lighting systems	57
5.2.1.2	Global warming and need for energy consumption	58
FIGURE 22	GLOBAL LIGHTING PENETRATION TREND, 2012–2030	58
5.2.1.3	Rising demand for LED lighting systems for residential interior designing and home decoration	59
5.2.1.4	Growing investments in R&D due to rising demand for bulbs and luminaires	59
5.2.1.5	LED lighting positively impacting human health and well-being	59
5.2.1.6	Favorable government initiatives and regulations	60
FIGURE 23	LED LIGHTING MARKET DRIVERS: IMPACT ANALYSIS	61
5.2.2	RESTRAINTS	62
5.2.2.1	High installation cost of large projects	62
5.2.2.2	US-China trade conflict and ongoing Russia-Ukraine war	62
5.2.2.3	Functional problems associated with LED technology	62
FIGURE 24	LED LIGHTING MARKET RESTRAINTS: IMPACT ANALYSIS	63
5.2.3	OPPORTUNITIES	63
5.2.3.1	Government initiatives to achieve carbon neutrality	63
5.2.3.2	Continuous decline in prices of LED chips and other components of lighting systems	64
5.2.3.3	Growing adoption of wireless LED lighting technology for outdoor applications	64
5.2.3.4	Rising adoption of LED lighting in horticulture	65
FIGURE 25	LED LIGHTING MARKET OPPORTUNITIES: IMPACT ANALYSIS	66
5.2.4	CHALLENGES	66
5.2.4.1	Slow rate of adoption of LED technology in emerging economies	66
5.2.4.2	Threat of data/security breach in IoT-based lighting systems	67
5.2.4.3	Lack of common open standards for LED lighting	67
FIGURE 26	LED LIGHTING MARKET CHALLENGES: IMPACT ANALYSIS	68
5.3	VALUE CHAIN ANALYSIS	68
FIGURE 27	VALUE CHAIN ANALYSIS	68
5.4	ECOSYSTEM ANALYSIS	70
FIGURE 28	MARKET ECOSYSTEM	70
TABLE 1	LED LIGHTING MARKET: ECOSYSTEM	70
5.5	INVESTMENT AND FUNDING SCENARIO	71
FIGURE 29	FUNDING SCENARIO IN LED LIGHTING MARKET, 2018–2022	71
5.6	PORTER’S FIVE FORCES ANALYSIS	72
TABLE 2	IMPACT OF PORTER’S FIVE FORCES ON LED LIGHTING MARKET	72
FIGURE 30	PORTER’S FIVE FORCES ANALYSIS	72
5.6.1	INTENSITY OF COMPETITIVE RIVALRY	73
5.6.2	THREAT OF NEW ENTRANTS	73
5.6.3	THREAT OF SUBSTITUTES	73
5.6.4	BARGAINING POWER OF BUYERS	73
5.6.5	BARGAINING POWER OF SUPPLIERS	73
5.7	PRICING ANALYSIS	74
FIGURE 31	AVERAGE SELLING PRICE FOR LED LAMPS (60 W EQUIVALENT), 2020–2023 (USD)	74
5.7.1	AVERAGE SELLING PRICE TREND FOR KEY PLAYERS	75
FIGURE 32	AVERAGE SELLING PRICE TREND FOR KEY PLAYERS, BY PRODUCT TYPE (USD)	75
FIGURE 33	KEY PLAYERS’ AVERAGE SELLING PRICE TREND FOR LED LAMPS (60 W EQUIVALENT), BY REGION, 2020–2023 (USD)	75
5.8	TRADE ANALYSIS	76
TABLE 3	IMPORT VALUE FOR LAMPS AND LIGHTING FITTINGS, HS CODE: 9405, 2018–2022 (USD MILLION)	76
FIGURE 34	IMPORT VALUE OF LAMPS AND LIGHTING FIXTURES, BY COUNTRY, 2018–2022 (USD MILLION)	77
TABLE 4	EXPORT VALUE FOR LAMPS AND LIGHTING FIXTURES, HS CODE: 9405, 2018–2022 (USD MILLION)	77
FIGURE 35	EXPORT VALUE OF LAMPS AND LIGHTING FIXTURES, BY COUNTRY, 2018–2022, (USD MILLION)	78
5.9	REVENUE SHIFT & NEW REVENUE POCKETS FOR LED LIGHTING MARKET	78
FIGURE 36	REVENUE SHIFT IN LED LIGHTING MARKET	79
5.10	CASE STUDY ANALYSIS	79
5.10.1	ULINE ADOPTED HIGHLY EFFICIENT KBL LUMINAIRE FROM CREE LIGHTING USA LLC TO ENHANCE PERFORMANCE LEVELS	79
5.10.2	ATL HIRED BROOKS BERRY HAYNIE & ASSOCIATES TO MANAGE AND PERFORM LIGHTING CHANGEOVER FROM ADB AIRFIELD SOLUTIONS UNDER VERY TIGHT SCHEDULE	80
5.10.3	FRANKLIN INSTITUTE IMPLEMENTED STOUCH LIGHTING’S NEW LIGHTING SYSTEM TO DECREASE ENERGY CONSUMPTION AND IMPROVE LIGHTING QUALITY	80
5.10.4	WASHINGTON STATE DEPARTMENT OF ECOLOGY UPGRADED LED LIGHTING SYSTEM FROM CREE LIGHTING USA LLC TO REDUCE MAINTENANCE COSTS	81
5.10.5	ST. LUKES PRIMARY SCHOOL, SKERTON, INSTALLED LED LIGHTING SYSTEMS FROM UK ENERGY WATCH TO REDUCE OPERATING COSTS	81
5.10.6	PORT OF HOUSTON ADOPTED LED HIGH MAST LIGHTING FROM CONSTELLATION LIGHTING TO ENHANCE SAFETY AND OPERATIONAL EFFICIENCY	82
5.11	KEY CONFERENCES & EVENTS	83
TABLE 5	LIST OF KEY CONFERENCES & EVENTS, 2024–2025	83
5.12	PATENT ANALYSIS	83
TABLE 6	LIST OF KEY PATENTS IN LED LIGHTING MARKET, 2020–2023	84
FIGURE 37	TOP 10 COMPANIES WITH HIGHEST NUMBER OF PATENT APPLICATIONS IN LAST 10 YEARS	87
5.12.1	PATENT TRENDS	87
FIGURE 38	PATENTS GRANTED ANNUALLY BETWEEN 2014 AND 2023	87
TABLE 7	PATENTS REGISTERED BY TOP 20 OWNERS IN LAST 10 YEARS	88
5.13	TECHNOLOGY ANALYSIS	89
5.13.1	LI-FI	89
5.13.2	HUMAN-CENTRIC LIGHTING	89
5.13.3	IOT LIGHTING	89
5.13.4	NATURAL LIGHTING ROBOT	89
5.13.5	QUANTUM DOT-ENABLED LED	90
5.14	GOVERNMENT REGULATIONS AND STANDARDS	90
5.14.1	GOVERNMENT REGULATIONS	90
5.14.2	LED LIGHTING MARKET STANDARDS	91
5.14.2.1	IEEE 1789-2015 modulation frequencies for Light-Emitting Diodes (LEDs)	91
5.14.2.2	Energy Star – Developed by US Department of Energy (DOE) and US Environmental Protection Agency (EPA)	91
5.14.2.3	NEMA – ANSI C78.51: Electric Lamps – LED (Light-emitting Diode) Lamps – Method of Designation	91
5.15	REGULATORY LANDSCAPE	91
5.15.1	NORTH AMERICA	91
5.15.1.1	US	91
5.15.1.2	Canada	92
5.15.1.3	Mexico	92
5.15.2	EUROPE	92
5.15.2.1	Switzerland	93
5.15.2.2	Germany	93
5.15.2.3	France	93
5.15.3	ASIA PACIFIC	94
5.15.3.1	Japan	94
5.15.3.2	China	94
5.15.3.3	India	94
5.15.4	REST OF THE WORLD	94
5.15.4.1	UAE	94
5.15.4.2	Saudi Arabia	94
5.16	KEY STAKEHOLDERS IN BUYING PROCESS	95
FIGURE 39	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE INDOOR APPLICATIONS	95
TABLE 8	INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE INDOOR APPLICATIONS	95
5.16.1	BUYING CRITERIA	96
FIGURE 40	KEY BUYING CRITERIA FOR TOP THREE INDOOR APPLICATIONS	96
 
6	LED LIGHTING MARKET, BY APPLICATION	97
6.1	INTRODUCTION	98
TABLE 9	LED LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD BILLION)	98
FIGURE 41	OUTDOOR APPLICATION TO GROW AT HIGHER CAGR DURING FORECAST PERIOD	98
TABLE 10	LED LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD BILLION)	98
6.2	INDOOR	99
TABLE 11	INDOOR: LED LIGHTING MARKET, BY TYPE, 2020–2023 (USD BILLION)	99
FIGURE 42	RESIDENTIAL SEGMENT TO LEAD MARKET DURING FORECAST PERIOD	100
TABLE 12	INDOOR: LED LIGHTING MARKET, BY TYPE, 2024–2029 (USD BILLION)	100
TABLE 13	INDOOR: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)	101
TABLE 14	INDOOR: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)	101
6.2.1	RESIDENTIAL	101
6.2.1.1	Preference for comfortable lighting that consumes low power and adds to aesthetic	101
TABLE 15	RESIDENTIAL: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)	102
TABLE 16	RESIDENTIAL: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)	102
6.2.2	COMMERCIAL	102
6.2.2.1	Need for energy-efficient, operational-at-lower-temperatures, highly efficient, and low-maintenance lights to drive market	102
TABLE 17	COMMERCIAL: LED LIGHTING MARKET, BY TYPE, 2020–2023 (USD BILLION)	103
TABLE 18	COMMERCIAL: LED LIGHTING MARKET, BY TYPE, 2024–2029 (USD BILLION)	103
TABLE 19	COMMERCIAL: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)	103
TABLE 20	COMMERCIAL: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)	104
6.2.2.2	Offices	104
6.2.2.2.1	Recessed luminaires and downlighters to help increase productivity and proactivity	104
6.2.2.3	Retail stores	104
6.2.2.3.1	Need to attract and engage potential customers and promote attributes, values, and information related to merchandise to drive market	104
6.2.2.4	Horticulture gardens	105
6.2.2.4.1	LED lighting to reduce operational costs through energy savings and greater efficiency	105
6.2.2.5	Other commercial applications	105
6.2.3	INDUSTRIAL	105
6.2.3.1	Controlled industrial lighting to help save expenses and conserve energy	105
TABLE 21	INDUSTRIAL: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)	106
TABLE 22	INDUSTRIAL: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)	106
6.2.4	OTHER INDOOR APPLICATIONS	106
TABLE 23	OTHER INDOOR APPLICATIONS: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)	107
TABLE 24	OTHER INDOOR APPLICATIONS: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)	107
6.3	OUTDOOR	107
TABLE 25	OUTDOOR: LED LIGHTING MARKET, BY TYPE, 2020–2023 (USD BILLION)	108
FIGURE 43	STREETS & ROADS SEGMENT TO ACCOUNT FOR LARGEST MARKET DURING FORECAST PERIOD	108
TABLE 26	OUTDOOR: LED LIGHTING MARKET, BY TYPE, 2024–2029 (USD BILLION)	109
TABLE 27	OUTDOOR: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)	109
TABLE 28	OUTDOOR: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)	110
6.3.1	STREETS & ROADS	110
6.3.1.1	Cost-effective and sustainable lighting to meet demand for scheduling, occupancy, and daylight harvesting requirements	110
6.3.2	ARCHITECTURAL BUILDINGS	110
6.3.2.1	LED lighting to help create shapes and effects to enhance beauty of building through controlled movement of lights	110
6.3.3	SPORTS COMPLEXES	111
6.3.3.1	LED lighting to offer wide beam angle and ensure optimal light coverage throughout stadiums	111
6.3.4	TUNNELS	111
6.3.4.1	LED lighting to help save energy, reduce costs, augment safety, and reduce accidents	111
6.3.5	OTHER OUTDOOR APPLICATIONS	111
7	LED LIGHTING MARKET, BY PRODUCT TYPE	112
7.1	INTRODUCTION	113
TABLE 29	LED LIGHTING MARKET, BY PRODUCT TYPE, 2020–2023 (USD BILLION)	113
FIGURE 44	LUMINAIRES SEGMENT TO GROW AT HIGHER CAGR DURING FORECAST PERIOD	113
TABLE 30	LED LIGHTING MARKET, BY PRODUCT TYPE, 2024–2029 (USD BILLION)	114
7.2	LAMPS	114
TABLE 31	LAMPS: LED LIGHTING MARKET, BY TYPE, 2020–2023 (USD BILLION)	115
FIGURE 45	A-TYPE LAMPS SEGMENT TO ACCOUNT FOR LARGEST MARKET DURING FORECAST PERIOD	115
TABLE 32	LAMPS: LED LIGHTING MARKET, BY TYPE, 2024–2029 (USD BILLION)	116
TABLE 33	LAMPS: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)	116
TABLE 34	LAMPS: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)	116
7.2.1	A-TYPE	117
7.2.1.1	Ease of installation, availability in various wattages, and versatility to fuel demand for A-type LED lamps	117
7.2.2	T-TYPE	117
7.2.2.1	T-Type LED lamps to enhance commercial and industrial lighting with energy efficiency and extended lifespan	117
7.2.3	OTHER LAMP TYPES	118
7.3	LUMINAIRES	118
TABLE 35	LUMINAIRES: LED LIGHTING MARKET, BY LIGHTING TYPE, 2020–2023 (MILLION UNITS)	118
TABLE 36	LUMINAIRES: LED LIGHTING MARKET, BY LIGHTING TYPE, 2024–2029 (MILLION UNITS)	119
TABLE 37	LUMINAIRES: LED LIGHTING MARKET, BY TYPE, 2020–2023 (USD BILLION)	119
FIGURE 46	DECORATIVE LUMINAIRES SEGMENT TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD	119
TABLE 38	LUMINAIRES: LED LIGHTING MARKET, BY TYPE, 2024–2029 (USD BILLION)	120
TABLE 39	LUMINAIRES: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)	120
TABLE 40	LUMINAIRES: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)	120
7.3.1	DOWNLIGHTING	121
7.3.1.1	Ability to consume less energy, provide instant illumination, and save energy to drive demand for downlighting	121
7.3.2	DECORATIVE LIGHTING	121
7.3.2.1	Decorative lighting to make commercial and retail spaces more appealing	121
7.3.3	DIRECTIONAL LIGHTING	122
7.3.3.1	Directional lighting to illuminate with precision and highlight architectural features	122
7.3.4	OTHER LUMINAIRE TYPES	122
8	LED LIGHTING MARKET, BY INSTALLATION	123
8.1	INTRODUCTION	124
TABLE 41	LED LIGHTING MARKET, BY INSTALLATION, 2020–2023 (USD BILLION)	124
FIGURE 47	NEW INSTALLED LED LIGHTS SEGMENT TO EXHIBIT HIGHER CAGR DURING FORECAST PERIOD	124
TABLE 42	LED LIGHTING MARKET, BY INSTALLATION, 2024–2029 (USD BILLION)	124
8.2	NEW INSTALLATION	125
8.2.1	NEWLY INSTALLED-LED LIGHTS’ ADHERENCE TO LATEST REGULATIONS TO EMPHASIZE ENERGY EFFICIENCY AND SUSTAINABILITY	125
TABLE 43	NEW INSTALLATION: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)	126
TABLE 44	NEW INSTALLATION: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)	126
8.3	RETROFIT	126
8.3.1	RETROFIT LED INSTALLATIONS TO BECOME COST-EFFECTIVE AND SUSTAINABLE SOLUTIONS	126
TABLE 45	RETROFIT INSTALLATION: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)	127
TABLE 46	RETROFIT INSTALLATION: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)	127
 
9	LUMENS IN LED LIGHTING	128
9.1	INTRODUCTION	128
9.2	1,600 LUMENS	128
9.3	1,100 LUMENS	129
9.4	800 LUMENS	129
9.5	450 LUMENS	129
TABLE 47	LUMENS AND WATTAGE COMPARISON TABLE	129
9.6	ADDITIONAL LED CLASSES	130
9.6.1	LOW-POWER LED	130
9.6.2	HIGH-POWER LED	130
TABLE 48	LED LIGHT MEASUREMENT ATTRIBUTES	130
10	LED LIGHTING MARKET, BY SALES CHANNEL	131
10.1	INTRODUCTION	132
TABLE 49	LED LIGHTING MARKET, BY SALES CHANNEL, 2020–2023 (USD BILLION)	132
FIGURE 48	ECOMMERCE SEGMENT TO LEAD LED LIGHTING MARKET WITH HIGHEST CAGR DURING FORECAST PERIOD	132
TABLE 50	LED LIGHTING MARKET, BY SALES CHANNEL, 2024–2029 (USD BILLION)	133
10.2	RETAIL/WHOLESALE	133
10.2.1	RISING CONCERN ABOUT AFTER-SALES SERVICE TO BOOST DEMAND FOR RETAILERS/WHOLESALERS	133
TABLE 51	RETAIL/WHOLESALE: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)	134
TABLE 52	RETAIL/WHOLESALE: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)	134
10.3	DIRECT SALES/CONTRACT-BASED	134
10.3.1	NEED TO FULFIL CUSTOMERS’ SPECIFIC NEEDS AND PROVIDE TAILORED SOLUTIONS AND COST EFFICIENCY TO DRIVE MARKET	134
TABLE 53	DIRECT SALES/CONTRACT-BASED: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)	135
TABLE 54	DIRECT SALES/CONTRACT-BASED: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)	135
10.4	ECOMMERCE	135
10.4.1	NEED FOR ECOMMERCE PLATFORMS FOR SEAMLESSLY DELIVERING LED LIGHTING SOLUTIONS AT CONSUMERS’ DOORSTEPS	135
TABLE 55	ECOMMERCE: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)	136
TABLE 56	ECOMMERCE: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)	136
 
11	LED LIGHTING MARKET, BY REGION	137
11.1	INTRODUCTION	138
FIGURE 49	LED LIGHTING MARKET: BY REGION	138
FIGURE 50	INDIA TO GROW AT HIGHEST CAGR DURING FORECAST PERIOD	138
TABLE 57	LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)	139
TABLE 58	LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)	139
11.2	AMERICAS	140
FIGURE 51	AMERICAS: SNAPSHOT OF LED LIGHTING MARKET	140
11.2.1	AMERICAS: RECESSION IMPACT	141
TABLE 59	AMERICAS: LED LIGHTING MARKET, BY PRODUCT TYPE, 2020–2023 (USD BILLION)	141
TABLE 60	AMERICAS: LED LIGHTING MARKET, BY PRODUCT TYPE, 2024–2029 (USD BILLION)	141
TABLE 61	AMERICAS: LED LIGHTING MARKET, BY SALES CHANNEL, 2020–2023 (USD BILLION)	141
TABLE 62	AMERICAS: LED LIGHTING MARKET, BY SALES CHANNEL, 2024–2029 (USD BILLION)	142
TABLE 63	AMERICAS: LED LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD BILLION)	142
TABLE 64	AMERICAS: LED LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD BILLION)	142
TABLE 65	AMERICAS: LED LIGHTING MARKET, BY INSTALLATION, 2020–2023 (USD BILLION)	142
TABLE 66	AMERICAS: LED LIGHTING MARKET, BY INSTALLATION, 2024–2029 (USD BILLION)	143
TABLE 67	AMERICAS: LED LIGHTING MARKET, BY REGION, 2020–2023 (USD BILLION)	143
TABLE 68	AMERICAS: LED LIGHTING MARKET, BY REGION, 2024–2029 (USD BILLION)	143
11.2.2	NORTH AMERICA	144
TABLE 69	NORTH AMERICA: LED LIGHTING MARKET, BY PRODUCT TYPE, 2020–2023 (USD BILLION)	144
TABLE 70	NORTH AMERICA: LED LIGHTING MARKET, BY PRODUCT TYPE, 2024–2029 (USD BILLION)	144
TABLE 71	NORTH AMERICA: LED LIGHTING MARKET, BY SALES CHANNEL, 2020–2023 (USD BILLION)	145
TABLE 72	NORTH AMERICA: LED LIGHTING MARKET, BY SALES CHANNEL, 2024–2029 (USD BILLION)	145
TABLE 73	NORTH AMERICA: LED LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD BILLION)	145
TABLE 74	NORTH AMERICA: LED LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD BILLION)	146
TABLE 75	NORTH AMERICA: LED LIGHTING MARKET, BY INSTALLATION, 2020–2023 (USD BILLION)	146
TABLE 76	NORTH AMERICA: LED LIGHTING MARKET, BY INSTALLATION, 2024–2029 (USD BILLION)	146
TABLE 77	NORTH AMERICA: LED LIGHTING MARKET, BY COUNTRY, 2020–2023 (USD BILLION)	146
TABLE 78	NORTH AMERICA: LED LIGHTING MARKET, BY COUNTRY, 2024–2029 (USD BILLION)	147
11.2.2.1	US	147
11.2.2.1.1	Economic stability and high investments in advanced LED technologies to accelerate adoption of LED lighting	147
11.2.2.2	Canada	148
11.2.2.2.1	Increasing awareness among consumers regarding benefits of energy-efficient systems to propel market	148
11.2.2.3	Mexico	148
11.2.2.3.1	Increase in adoption of automation solutions across diverse industries to boost market	148
11.2.3	SOUTH AMERICA	149
TABLE 79	SOUTH AMERICA: LED LIGHTING MARKET, BY PRODUCT TYPE, 2020–2023 (USD BILLION)	149
TABLE 80	SOUTH AMERICA: LED LIGHTING MARKET, BY PRODUCT TYPE, 2024–2029 (USD BILLION)	149
TABLE 81	SOUTH AMERICA: LED LIGHTING MARKET, BY SALES CHANNEL, 2020–2023 (USD BILLION)	150
TABLE 82	SOUTH AMERICA: LED LIGHTING MARKET, BY SALES CHANNEL, 2024–2029 (USD BILLION)	150
TABLE 83	SOUTH AMERICA: LED LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD BILLION)	150
TABLE 84	SOUTH AMERICA: LED LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD BILLION)	150
TABLE 85	SOUTH AMERICA: LED LIGHTING MARKET, BY INSTALLATION, 2020–2023 (USD BILLION)	151
TABLE 86	SOUTH AMERICA: LED LIGHTING MARKET, BY INSTALLATION, 2024–2029 (USD BILLION)	151
TABLE 87	SOUTH AMERICA: LED LIGHTING MARKET, BY COUNTRY, 2020–2023 (USD BILLION)	151
TABLE 88	SOUTH AMERICA: LED LIGHTING MARKET, BY COUNTRY, 2024–2029 (USD BILLION)	151
11.2.3.1	Brazil	152
11.2.3.1.1	High demand for energy-efficient solutions and robust presence of airports to drive market	152
11.2.3.2	Argentina	152
11.2.3.2.1	Government’s energy conservation initiatives to drive market	152
11.2.3.3	Rest of South America	153
11.3	EUROPE	153
FIGURE 52	EUROPE: SNAPSHOT OF LED LIGHTING MARKET	154
11.3.1	EUROPE: RECESSION IMPACT	154
TABLE 89	EUROPE: LED LIGHTING MARKET, BY PRODUCT TYPE, 2020–2023 (USD BILLION)	155
TABLE 90	EUROPE: LED LIGHTING MARKET, BY PRODUCT TYPE, 2024–2029 (USD BILLION)	155
TABLE 91	EUROPE: LED LIGHTING MARKET, BY SALES CHANNEL, 2020–2023 (USD BILLION)	155
TABLE 92	EUROPE: LED LIGHTING MARKET, BY SALES CHANNEL, 2024–2029 (USD BILLION)	155
TABLE 93	EUROPE: LED LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD BILLION)	156
TABLE 94	EUROPE: LED LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD BILLION)	156
TABLE 95	EUROPE: LED LIGHTING MARKET, BY INSTALLATION, 2020–2023 (USD BILLION)	156
TABLE 96	EUROPE: LED LIGHTING MARKET, BY INSTALLATION, 2024–2029 (USD BILLION)	156
TABLE 97	EUROPE: LED LIGHTING MARKET, BY COUNTRY, 2020–2023 (USD BILLION)	157
TABLE 98	EUROPE: LED LIGHTING MARKET, BY COUNTRY, 2024–2029 (USD BILLION)	157
11.3.2	UK	158
11.3.2.1	Rising environmental consciousness and legislation related to energy efficiency to propel market	158
11.3.3	GERMANY	158
11.3.3.1	Growing prevalence of smart homes and robust economy to create growth opportunities	158
11.3.4	FRANCE	159
11.3.4.1	Increasing investments in infrastructure sector to create growth opportunities for LED lighting providers	159
11.3.5	ITALY	159
11.3.5.1	Government initiatives promoting improved design and management of lighting systems to drive market	159
11.3.6	SPAIN	160
11.3.6.1	Government’s focus on reducing greenhouse emissions to fuel market growth	160
11.3.7	REST OF EUROPE	160
11.4	ASIA PACIFIC	160
FIGURE 53	ASIA PACIFIC: SNAPSHOT OF LED LIGHTING MARKET	161
11.4.1	ASIA PACIFIC: RECESSION IMPACT	161
TABLE 99	ASIA PACIFIC: LED LIGHTING MARKET, BY PRODUCT TYPE, 2020–2023 (USD BILLION)	162
TABLE 100	ASIA PACIFIC: LED LIGHTING MARKET, BY PRODUCT TYPE, 2024–2029 (USD BILLION)	162
TABLE 101	ASIA PACIFIC: LED LIGHTING MARKET, BY SALES CHANNEL, 2020–2023 (USD BILLION)	162
TABLE 102	ASIA PACIFIC: LED LIGHTING MARKET, BY SALES CHANNEL, 2024–2029 (USD BILLION)	162
TABLE 103	ASIA PACIFIC: LED LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD BILLION)	163
TABLE 104	ASIA PACIFIC: LED LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD BILLION)	163
TABLE 105	ASIA PACIFIC: LED LIGHTING MARKET, BY INSTALLATION, 2020–2023 (USD BILLION)	163
TABLE 106	ASIA PACIFIC: LED LIGHTING MARKET, BY INSTALLATION, 2024–2029 (USD BILLION)	163
TABLE 107	ASIA PACIFIC: LED LIGHTING MARKET, BY COUNTRY, 2020–2023 (USD BILLION)	164
TABLE 108	ASIA PACIFIC: LED LIGHTING MARKET, BY COUNTRY, 2024–2029 (USD BILLION)	164
11.4.2	CHINA	165
11.4.2.1	Growing economy and increasing implementation of sensors in industrial applications to propel market	165
11.4.3	JAPAN	165
11.4.3.1	Infrastructural developments to accelerate market growth	165
11.4.4	INDIA	166
11.4.4.1	Government-run smart city projects to boost demand for LED lighting and control solutions	166
11.4.5	AUSTRALIA	166
11.4.5.1	High penetration rate of LED lighting systems in major cities to foster market growth	166
11.4.6	SOUTH KOREA	166
11.4.6.1	Presence of major LED lighting manufacturers to support market growth	166
11.4.7	REST OF ASIA PACIFIC	166
11.5	REST OF THE WORLD (ROW)	167
11.5.1	ROW: RECESSION IMPACT	167
TABLE 109	ROW: LED LIGHTING MARKET, BY PRODUCT TYPE, 2020–2023 (USD BILLION)	167
TABLE 110	ROW: LED LIGHTING MARKET, BY PRODUCT TYPE, 2024–2029 (USD BILLION)	168
TABLE 111	ROW: LED LIGHTING MARKET, BY SALES CHANNEL, 2020–2023 (USD BILLION)	168
TABLE 112	ROW: LED LIGHTING MARKET, BY SALES CHANNEL, 2024–2029 (USD BILLION)	168
TABLE 113	ROW: LED LIGHTING MARKET, BY APPLICATION, 2020–2023 (USD BILLION)	168
TABLE 114	ROW: LED LIGHTING MARKET, BY APPLICATION, 2024–2029 (USD BILLION)	169
TABLE 115	ROW: LED LIGHTING MARKET, BY INSTALLATION, 2020–2023 (USD BILLION)	169
TABLE 116	ROW: LED LIGHTING MARKET, BY INSTALLATION, 2024–2029 (USD BILLION)	169
TABLE 117	ROW: LED LIGHTING MARKET, BY SUBREGION, 2020–2023 (USD BILLION)	169
TABLE 118	ROW: LED LIGHTING MARKET, BY SUBREGION, 2024–2029 (USD BILLION)	170
11.5.2	MIDDLE EAST	170
11.5.2.1	Eco-friendly green building regulations and streetlight retrofitting programs to spur market growth	170
11.5.2.2	GCC Countries	170
11.5.2.3	Rest of Middle East	171
TABLE 119	MIDDLE EAST: LED LIGHTING MARKET, BY SUBREGION, 2020–2023 (USD BILLION)	171
TABLE 120	MIDDLE EAST: LED LIGHTING MARKET, BY SUBREGION, 2024–2029 (USD BILLION)	171
11.5.3	AFRICA	171
11.5.3.1	Ongoing urbanization to significantly boost demand for LED lighting solutions	171
12	COMPETITIVE LANDSCAPE	172
12.1	INTRODUCTION	172
12.2	KEY PLAYER STRATEGIES/RIGHT TO WIN	172
TABLE 121	OVERVIEW OF STRATEGIES DEPLOYED BY KEY PLAYERS IN LED LIGHTING MARKET	172
12.2.1	PRODUCT PORTFOLIO	173
12.2.2	REGIONAL FOCUS	173
12.2.3	MANUFACTURING FOOTPRINT	173
12.2.4	ORGANIC/INORGANIC GROWTH STRATEGIES	173
12.3	MARKET SHARE ANALYSIS	173
TABLE 122	LED LIGHTING MARKET: DEGREE OF COMPETITION (FRAGMENTED)	174
12.4	REVENUE ANALYSIS OF KEY PLAYERS	177
FIGURE 54	REVENUE ANALYSIS OF KEY PLAYERS IN LED LIGHTING MARKET, 2018–2022	177
12.5	COMPANY VALUATION AND FINANCIAL METRICS	178
FIGURE 55	COMPANY VALUATION, 2022 (USD BILLION)	178
FIGURE 56	FINANCIAL METRICS (EV/EBITDA), 2022	178
12.6	BRAND/PRODUCT COMPARISON	179
FIGURE 57	BRAND/PRODUCT COMPARISON	179
12.7	COMPANY EVALUATION MATRIX FOR KEY PLAYERS	180
12.7.1	STARS	180
12.7.2	PERVASIVE PLAYERS	180
12.7.3	EMERGING LEADERS	180
12.7.4	PARTICIPANTS	180
FIGURE 58	LED LIGHTING MARKET: COMPANY EVALUATION MATRIX FOR KEY PLAYERS, 2023	181
12.7.5	COMPANY FOOTPRINT	182
TABLE 123	OVERALL COMPANY FOOTPRINT	182
TABLE 124	COMPANY PRODUCT TYPE FOOTPRINT	183
TABLE 125	COMPANY APPLICATION FOOTPRINT	183
TABLE 126	COMPANY REGIONAL FOOTPRINT	184
12.8	COMPANY EVALUATION MATRIX FOR START-UPS/SMES	185
12.8.1	PROGRESSIVE COMPANIES	185
12.8.2	RESPONSIVE COMPANIES	185
12.8.3	DYNAMIC COMPANIES	185
12.8.4	STARTING BLOCKS	185
FIGURE 59	LED LIGHTING MARKET: COMPANY EVALUATION MATRIX FOR START-UPS/SMES, 2023	186
12.8.5	COMPETITIVE BENCHMARKING	187
TABLE 127	LIST OF START-UPS/SMES	187
TABLE 128	COMPETITIVE BENCHMARKING OF OTHER PLAYERS (START-UPS/SMES)	188
TABLE 129	KEY START-UPS IN LED LIGHTING MARKET	189
 
12.9	COMPETITIVE SCENARIO AND TRENDS	189
12.9.1	PRODUCT LAUNCHES & DEVELOPMENTS	190
TABLE 130	LED LIGHTING MARKET: PRODUCT LAUNCHES & DEVELOPMENTS, MARCH 2020–DECEMBER 2023	190
12.9.2	DEALS	197
TABLE 131	LED LIGHTING MARKET: DEALS, OCTOBER 2020–SEPTEMBER 2023	197
12.9.3	OTHERS	202
TABLE 132	LED LIGHTING MARKET: OTHERS, FEBRUARY 2020–AUGUST 2023	202
13	COMPANY PROFILES	204
(Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats))*
13.1	KEY PLAYERS	204
13.1.1	SIGNIFY HOLDING	204
TABLE 133	SIGNIFY HOLDING: BUSINESS OVERVIEW	204
FIGURE 60	SIGNIFY HOLDING: COMPANY SNAPSHOT	205
TABLE 134	SIGNIFY HOLDING: PRODUCTS/SOLUTIONS/SERVICES OFFERED	205
TABLE 135	SIGNIFY HOLDING: PRODUCT LAUNCHES	207
TABLE 136	SIGNIFY HOLDING: DEALS	209
TABLE 137	SIGNIFY HOLDING: OTHERS	212
13.1.2	ACUITY BRANDS, INC.	214
TABLE 138	ACUITY BRANDS, INC.: BUSINESS OVERVIEW	214
FIGURE 61	ACUITY BRANDS, INC.: COMPANY SNAPSHOT	215
TABLE 139	ACUITY BRANDS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED	215
TABLE 140	ACUITY BRANDS, INC.: PRODUCT LAUNCHES	216
TABLE 141	ACUITY BRANDS, INC.: DEALS	218
13.1.3	PANASONIC HOLDINGS CORPORATION	220
TABLE 142	PANASONIC HOLDINGS CORPORATION: BUSINESS OVERVIEW	220
FIGURE 62	PANASONIC HOLDINGS CORPORATION: COMPANY SNAPSHOT	221
TABLE 143	PANASONIC HOLDINGS CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED	221
TABLE 144	PANASONIC HOLDINGS CORPORATION: PRODUCT LAUNCHES	222
TABLE 145	PANASONIC HOLDINGS CORPORATION: DEALS	222
TABLE 146	PANASONIC HOLDINGS CORPORATION: OTHERS	223
13.1.4	AMS-OSRAM AG	224
TABLE 147	AMS-OSRAM AG: BUSINESS OVERVIEW	224
FIGURE 63	AMS-OSRAM AG: COMPANY SNAPSHOT	225
TABLE 148	AMS-OSRAM AG: PRODUCTS/SERVICES/SOLUTIONS OFFERED	225
TABLE 149	AMS-OSRAM AG: PRODUCT LAUNCHES	226
TABLE 150	AMS-OSRAM AG: DEALS	227
13.1.5	LG ELECTRONICS	229
TABLE 151	LG ELECTRONICS: BUSINESS OVERVIEW	229
FIGURE 64	LG ELECTRONICS: COMPANY SNAPSHOT	230
TABLE 152	LG ELECTRONICS: PRODUCTS/SERVICES/SOLUTIONS OFFERED	230
TABLE 153	LG ELECTRONICS: PRODUCT LAUNCHES	231
TABLE 154	LG ELECTRONICS: DEALS	232
13.1.6	CREE LIGHTING USA LLC	234
TABLE 155	CREE LIGHTING USA LLC: BUSINESS OVERVIEW	234
TABLE 156	CREE LIGHTING USA LLC: PRODUCTS/SERVICES/SOLUTIONS OFFERED	235
TABLE 157	CREE LIGHTING USA LLC: PRODUCT LAUNCHES	235
TABLE 158	CREE LIGHTING USA LLC: DEALS	237
13.1.7	DIALIGHT	238
TABLE 159	DIALIGHT: BUSINESS OVERVIEW	238
FIGURE 65	DIALIGHT: COMPANY SNAPSHOT	239
TABLE 160	DIALIGHT: PRODUCTS/SERVICES/SOLUTIONS OFFERED	239
TABLE 161	DIALIGHT: PRODUCT LAUNCHES	241
13.1.8	HUBBELL (PART OF GE CURRENT)	243
TABLE 162	HUBBELL: BUSINESS OVERVIEW	243
FIGURE 66	HUBBELL: COMPANY SNAPSHOT	244
TABLE 163	HUBBELL: PRODUCTS/SERVICES/SOLUTIONS OFFERED	244
TABLE 164	HUBBELL: DEALS	245
13.1.9	ZUMTOBEL GROUP	246
TABLE 165	ZUMTOBEL GROUP: BUSINESS OVERVIEW	246
FIGURE 67	ZUMTOBEL GROUP: COMPANY SNAPSHOT	247
TABLE 166	ZUMTOBEL GROUP: PRODUCTS/SERVICES/SOLUTIONS OFFERED	247
TABLE 167	ZUMTOBEL GROUP: PRODUCT LAUNCHES	248
13.1.10	SAVANT SYSTEMS, INC.	249
TABLE 168	SAVANT SYSTEMS, INC.: BUSINESS OVERVIEW	249
TABLE 169	SAVANT SYSTEMS, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED	249
TABLE 170	SAVANT SYSTEMS, INC.: PRODUCT LAUNCHES	250
TABLE 171	SAVANT SYSTEMS, INC.: DEALS	250
13.2	OTHER COMPANIES	251
13.2.1	CURRENT LIGHTING SOLUTIONS, LLC	251
13.2.2	SAMSUNG	252
13.2.3	SHARP CORPORATION	253
13.2.4	SITECO GMBH (GE)	254
13.2.5	HAVELLS INDIA LTD.	255
13.2.6	TRILUX GMBH & CO. KG	256
13.2.7	FAGERHULTS BELYSNING AB	256
13.2.8	SYSKA	257
13.2.9	GOGREENLED	257
13.2.10	FOREST LIGHTING	258
13.2.11	EVERLIGHT ELECTRONICS CO., LTD.	259
13.2.12	WIPRO LIGHTING	260
13.2.13	OPPLE LIGHTING CO., LTD.	261
13.2.14	NVC LIGHTING LTD. (SUBSIDIARY OF NVC INTERNATIONAL HOLDINGS)	262
13.2.15	SORAA	263
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, and MnM View (Key strengths/Right to Win, Strategic Choices Made, and Weaknesses and Competitive Threats) might not be captured in case of unlisted companies.
14	APPENDIX	264
14.1	DISCUSSION GUIDE	264
14.2	KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL	268
14.3	CUSTOMIZATION OPTIONS	270
14.4	RELATED REPORTS	270
14.5	AUTHOR DETAILS	271
*** LED照明の世界市場に関するよくある質問(FAQ) ***
・LED照明の世界市場規模は?
→MarketsandMarkets社は2024年のLED照明の世界市場規模を789億米ドルと推定しています。
・LED照明の世界市場予測は?
→MarketsandMarkets社は2029年のLED照明の世界市場規模を1184億米ドルと予測しています。
・LED照明市場の成長率は?
→MarketsandMarkets社はLED照明の世界市場が2024年~2029年に年平均8.5%成長すると展望しています。
・世界のLED照明市場における主要プレイヤーは?
→「Signify Holding(オランダ)、Acuity Brands, Inc.(米国)、Cree Lighting USA LLC(米国)、ams-OSRAM AG(オーストリア)、LG Electronics(韓国)、Dialight(英国)、パナソニック株式会社(日本)、Hubbell(米国)、Zumtobel Group(ドイツ)、Savant Systems, Inc.(米国)など ...」をLED照明市場のグローバル主要プレイヤーとして判断しています。
※上記FAQの市場規模、市場予測、成長率、主要企業に関する情報は本レポートの概要を作成した時点での情報であり、最終レポートの情報と少し異なる場合があります。
*** 免責事項 ***
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