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The analyst has been monitoring the LED lighting market and is forecast to grow by $34.82 bn during 2022-2027, accelerating at a CAGR of 7.35% during the forecast period. Our report on the LED lighting market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the declining manufacturing cost of LED lights, phasing out halogen, incandescent, fluorescent, and HID lamps, and the need for LED lighting in hazardous areas.
The LED lighting market is segmented as below:
By Application
• Residential
• Commercial
• Outdoor
• Industrial
• Others
By Product
• Luminaries
• Lamps
By Geographical Landscape
• APAC
• Europe
• North America
• Middle East and Africa
• South America
This study identifies the emergence of smart cities as one of the prime reasons driving the LED lighting market growth during the next few years.
For more information about this report visit https://www.researchandmarkets.com/r/jeffqn
