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
❖ 世界のLED照明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%成長すると予測しています。
・世界のLED照明市場における主要企業は？
→MarketsandMarkets社は「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 ...」をグローバルLED照明市場の主要企業として認識しています。
※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、納品レポートの情報と少し異なる場合があります。
