Light Emitting Diode (LED) Market
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How Large Will the Light Emitting Diode (LED) Market Size By 2025?
The value and scale of the light emitting diode (LED) market have seen significant expansion in the past few years. The market’s worth is expected to rise from $85.46 billion in 2024 to $93.3 billion in 2025, reflecting a compound annual growth rate (CAGR) of 9.2%. Factors such as heightened awareness about energy efficiency, environmental rules and regulations, cost-saving measures, and urban and street lighting projects have contributed to the growth experienced in the historical period.
How Big Is the Light Emitting Diode (LED) Market Size Expected to Grow by 2029?
The LED (Light Emitting Diode) market is predicted to experience robust growth in the upcoming years, reaching a value of $122.36 billion in 2029 with a CAGR of 7.0%. This expansion during the forecast period can be credited to factors such as smart lighting and IoT, sustainability and green building initiatives, health and well-being concerns, the adoption of electric vehicles (EV), and the demand for customized and high-CRI lighting. Significant trends expected during the forecast period comprise human-centric lighting, miniaturization, architectural and decorative lighting, horticultural lighting and Li-Fi technology.
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Which Key Market Drivers Powering Light Emitting Diode (LED) Market Expansion and Growth?
The governmental emphasis on energy conservation has played a crucial role in driving the expansion of the light emitting diode (LED) market. LED lamps, due to their high luminous intensity and energy-efficient nature, stand out as a superior option. They consume less power than traditional incandescent bulbs, relieving pressure on power plants and reducing the need for fuel combustion to produce electricity. For instance, in April 2023, the U.S. Department of Energy (DOE) unveiled an energy savings hub. This platform offers easy access to clean energy tax credits and anticipated rebates for American consumers, aiding them in managing their energy expenses and broadening their access to cleaner, more efficient product choices such as purchasing an electric vehicle, upgrading appliances, or improving home comfort and safety. Hence, the heightened government dedication to energy conservation propels the growth trajectory of the LED market.
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Which Fast-Growing Trends Are Poised to Disrupt the Light Emitting Diode (LED) Market?
The production of LEDs designed specifically for horticultural applications is a rising trend in the LED marketplace. Light is critical for plant development, and LEDs provide the ability to regulate the spectrum of light given to plants, regardless of the time of year. The LED lights used in horticulture not only stimulate fruit and plant growth but also improve taste, color, and yields in less time. For instance, Acuity Brands, a US-based lighting and building management company, introduced the Verjure brand, a new LED horticultural lighting solution, in March 2022, to support more steady and eco-friendly crop production. The Verjure Pro Series LED has a unique rotating outer module feature that ensures excellent lighting consistency on the canopy, and its removable lenses are easy to clean, allowing for maximum light output maintenance.
What Are the Emerging Segments in the Light Emitting Diode (LED) Market?
The light emitting diode (LED) market covered in this report is segmented –
1) By Product Type: LED Lamps, LED Fixtures
2) By Technology: Basic LED, High Brightness LED, OLED, Polymer, Ultra violet LED
3) By End-user: Residential, Commercial, Industrial
Subsegments:
1) By LED Lamps: Bulbs, Tubes, Downlights, Spotlights, Decorative Lights
2) By LED Fixtures: Panel Lights, Street Lights, Flood Lights, High Bay Lights, Ceiling Lights, Track Lights
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Who Are the Global Leaders in the Light Emitting Diode (LED) Market?
Major companies operating in the light emitting diode (LED) market include OSRAM Licht AG, Cree Inc., Philips Lighting Holding (Signify), Lumileds Holding B.V., Cooper Industries, Virtual Extension, Dialight plc, Zumtobel Group AG, Samsung Group, Sharp Corporation, LG Innotek, General Electric Company (GE), Everylight Electronics Co. Ltd., Nichia Corporation, Broadcom Inc., Toyota Motor Corporation, Mercedes-Benz, Plessey Semiconductors Ltd., Seoul Semiconductor Co. Ltd., Moritex Corporation, STMicroelectronics, Texas Instruments Incorporated, ROHM Semiconductors, Koninklijke Philips N.V., Epistar Corporation, Sanan Optoelectronics Co. Ltd., MLS Co. Ltd., Toyoda Gosei Co. Ltd., Stanley Electric Co. Ltd., Citizen Electronics Co. Ltd., Vishay Intertechnology Inc., Lumens Co. Ltd., Formosa Epitaxy Inc., Genesis Photonics Inc., Edison Opto Corporation, Lextar Electronics Corporation, Opto Tech Corporation, Lite-On Technology Corporation, Bright LED Electronics Corporation, Kingbright Electronic Co. Ltd., Litecontrol Corporation, LEDVANCE GmbH, GE Lighting
Which are the Top Profitable Regional Markets for the Light Emitting Diode (LED) Industry?
Asia-Pacific was the largest region in the light emitting diode market in 2023. North America was the second-largest region in the light emitting diode market. The regions covered in the light emitting diode (led) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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