Global Led Lighting Market Report 2023: Sector is Expected to Reach $168.87 Billion by 2030 at a CAGR of 11%
When compared to traditional incandescent light bulbs like incandescent and fluorescent lights, light-emitting diode (LED) lighting products are about 90% more efficient at producing light.
- When compared to traditional incandescent light bulbs like incandescent and fluorescent lights, light-emitting diode (LED) lighting products are about 90% more efficient at producing light.
- By 2025, global sales of LED lighting fixtures and bulbs must reach 100%, to meet the target of net-zero emissions by 2050.
- This is anticipated to hasten the implementation of LED lighting technology throughout the ensuing years, serving as one of the primary growth drivers for the LED lighting market.
- The lack of knowledge about installation and the expensive cost of light-emitting diode (LED) lighting in many emerging economies are the main obstacles limiting the spread of LED lighting.