LED Lighting Market - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025

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The Global LED Lighting market was valued at US$ 32.7 Billion in 2016 and is expected to grow at a CAGR of 16.61% to reach a market size of over US$ 120 Billion by 2025 due to the rising consumer requirement for energy-efficient lighting systems, technological innovation, and increased demand in automotive industry of LEDs as a light source are expected to drive the growth of this market.

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A light-emitting diode (LED) is a p–n junction diode that radiates light when voltage is applied to it. Earlier LED lights released low-intensity infrared light (IR). But now visible, ultraviolet, and infrared wavelength LED lights are available with very high intensity. LEDs are more advantageous over incandescent light sources, including energy efficiency, longer lifetime, enhanced physical strength, smaller size, design flexibility, environment friendly and faster switching.

LED lights are used in various applications such as aviation lighting, automotive headlights, advertising, general lighting, traffic signals, camera flashes, and lighted wallpaper. They are also considerably more energy efficient and perhaps have very less environmental concerns related to their disposal.

Market Dynamics

According to the report, one of the major drivers for LED Lighting market include growing LED adoption in automotive industry, increasing demand for energy efficient lighting systems, technology innovation and performance improvements. LED Lights demand in Automotive industry is boosting due to advancement in head lighting, dynamic beam functionality, laser head lighting, front and rear lighting signature design, ADAS and autonomous driving and other technology. It is forecasted that by 2025 over 75% of global cars have modern and smart LED lighting systems.

Market Taxonomy

This report segments the global LED Lighting market on the basis of product type, by service type, by end-user industries, by applications and by region. On the basis of product type, the global LED Lighting market is classified into five types which includes LED Bulbs, Bare LED Tubes, LED Fixtures, LED Down lights and Others. Service type of LED Lighting include Consulting Services, Installation Services and Maintenance & Support. End-user segment includes Residential, Commercial and Industrial. Applications of LED Lighting System includes Outdoor, Indoor, Backlighting, Automotive and Others. On the basis of region, LED Lighting market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East.

LED Bulb Segment Holds the Highest Market Share

On the basis of product type, the LED bulb segment is expected to hold the largest market for LED lighting, as bulbs form the major light source and key component of an LED lighting system.

Installation Services Segment Holds a Dominant Position

On the basis of service type, the installation segment is expected be the dominant segment in the market, owing to rising demand for energy-efficient light sources such as LED bulbs. The old generation lamps are installed with LED bulbs, as they consume less energy and have longer working life.

Commercial Segment is Expected to be the Fastest Growing Segment

Among end-users, the commercial segment is estimated to exhibit the highest growth rate during the forecast period (2017–2025), owing to increasing infrastructural activities globally, which in turn attracts high activity of commercial segment in transporting and other related works to LED bulb.

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Outdoor LED Lighting System Accounted Major Market Share

On the basis of application, the outdoor segment held the highest position in 2016, with a market share of 31.5%. The major factor for expansion of outdoor LED lighting system is its increasing popularity and usage in roadways, traffic lights, tunnels, parking lots, garages, which is extensive as compared to residential applications. Residential applications for LED lighting include lighting for smart home, HDR 4K, and ultra-slim, curved, and high gamut display TVs.

Global Key Players:

Major players operating in the global LED light market include Philips Lighting Holding B.V., Osram Licht AG, GE Lighting, LG Innotek, Cree, Inc., Cooper Industries, Inc., Seoul Semiconductor, Samsung Electronics, and Lightning Optoelectronic.

Market Taxonomy

This report segments the global LED Lighting market on the basis of product type, by service type, by end-user industries, by applications and by region. On the basis of product type, the global LED Lighting market is classified into five types which includes LED Bulbs, Bare LED Tubes, LED Fixtures, LED Down lights and Others. Service type of LED Lighting include Consulting Services, Installation Services and Maintenance & Support. End-user segment includes Residential, Commercial and Industrial. Applications of LED Lighting System includes Outdoor, Indoor, Backlighting, Automotive and Others. On the basis of region, LED Lighting market is segmented into North America, Europe, Asia-Pacific, South America, and Middle East.

Detail LED Lighting Market Segmentation:

• Global LED Lighting Market, By Product Type:

  • LED Bulbs

  • Bare LED Tubes

  • LED Fixtures

  • LED Down lights

  • Others

• Global LED Lighting Market, By Service Type:

  • Consulting Services

  • Installation Services

  • Maintenance & Support

• Global LED Lighting Market, By End Use:

  • Residential

  • Commercial

  • Industrial

• Global LED Lighting Market, By Application:

  • Outdoor

  • Indoor

  • Backlighting

  • Automotive

  • Others

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About Coherent Market Insights: Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various reco