LED Lighting Market Size, Key Vendors, Growth Rate, Drivers, Volume and Forecast Report

With the growing adoption of LED lighting solutions, “the global light emitting diode (LED) lighting market will grow, in valuation, from $30,500.8 million to $70,240.0 million from 2016 to 2023”. According to the forecast of P&S Intelligence, a market research company based in India, the market will progress at a CAGR of 12.6% between 2017 and 2023.

Lamps and luminaires are the most widely used types of LED lighting devices across the world. Of these, the revenue generated from the sales of luminaires was found to be higher over the last few years. For instance, the Indian government announced a smart city development program, under which, 100 cities throughout the country will be converted into smart cities by 2030. 

Geographically, “the LED lighting market exhibited the highest revenue growth in the Asia-Pacific (APAC) region over the last several years”. Furthermore, “the usage of these devices is predicted to increase at the fastest rate in the APAC region in the future years”. This is attributed to the soaring number of initiatives being taken by the governments of various APAC nations for promoting the utilization of energy-efficient lighting systems and the increasing electrification of villages in the APAC countries.

“A major factor fuelling the demand for light-emitting diode (LED) lighting solutions is the increasing number of construction and infrastructural development projects being undertaken by the governments of several countries around the world”. Due to the increasing urbanization and modernization, the governments of various developing nations such as China, Indonesia, and India are increasingly launching large-scale modernization and infrastructural development programs.

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This market research report provides a comprehensive overview of the drone analytics market

• Historical and the present size of the drone analytics market
• Future potential of the market through its forecast for the period 2020– 2030
• Major factors driving the market and their impact during the short, medium, and long terms
• Market restraints and their impact during the short, medium, and long terms
• Recent trends and evolving opportunities for the market participants
• Historical and the present size of the market segments and understand their comparative future potential