Global LED Market Poised for $165 Billion Growth by 2030
165.36 Billionby 2030, TheLEDmarketisprojectedtogrowfrom704.9 billion in 2022 to $1653.6 billion by 2030, with a CAGR of 11.28%.
Key drivers include:
Smart City Initiatives: LED streetlights with IoT sensors are being deployed in urban centers to reduce energy costs.
Regulatory Push: The EU’s Eco-design Directive (ErP) mandates minimum energy efficiency standards, phasing out traditional lighting.
Asia’s Dominance: China and India lead adoption, accounting for 45% of global demand due to infrastructure investments.
Market Insights:
Commercial Applications: Retail and hospitality sectors prioritize LED for dynamic lighting effects.
Mini/Micro LED Surge: Emerging technologies like Micro LED displays are expected to capture 20% of the high-end market by 2027.
