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LED lighting Market size forecast to witness growth at 28 % CAGR from 2016 to 2023

LED lighting market size was valued around USD 16 billion in 2014 and is expected to grow at CAGR of over 28% from 2016 to 2023. It is anticipated to reach over USD 45 billion over the forecast period. The industry is likely to achieve share of around 84% of lumen-hour market sales in the general illumination market by 2030.<br><br>Request for an in-depth table of contents for this report @ https://www.gminsights.com/request-toc/upcoming/288

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LED lighting Market size forecast to witness growth at 28 % CAGR from 2016 to 2023

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  1. LED lighting Market size forecast to witness growth at 28 % CAGR from 2016 to 2023, to reach over USD 45 billion during forecast period: Global Market Insights Inc. Fuel Cell Market size worth $25.5bn by 2024 Low Power Wide Area Network

  2. Regional Analysis of LED Lighting Market: • The industry can be further bifurcated on the basis of region which includes North America, Europe, Asia Pacific, Latin America and MEA. • Asia Pacific LED lighting market developed relatively earlier and accounted for over 40% of the overall share in 2014. • China LED lighting market is expected to grow at a CAGR of over 35% from 2016 to 2023.

  3. Application Analysis of LED Lighting Market: • The commercial LED lighting market is primarily driven by energy efficiency and enhanced controllability over the forecast period. • The consumers are willing to pay for a new lighting fixture for the first installation. • For residential and office lighting sectors, the average cost increases to 30% and 39% respectively. • Key application markets include industrial lighting, outdoor lighting, architectural lighting and commercial lighting.

  4. Competitive Market Share of LED Lighting Market: • Epistar is mainly focused on 200mm technology. Other major companies such as Philips, Samsung and OSRAM are concentrating GaN on silicon technology. • Industry shifts offer entry points for new players and build momentous opportunities to achieve rapid increase in share.

  5. Browse Full Market Research Report On LED Lighting Market @ https://www.gminsights.com/industry-analysis/led-lighting-market Request for an in-depth table of contents for this report @ https://www.gminsights.com/request-toc/upcoming/288

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