Led-lighting-market-growth, press release global led lighting market to grow at a cagr of 12% over the forecast period of 2020-2025 published: april 24, 2020 at 2:48 a.m. et. Led lighting market report highlights led lighting is estimated to grow at a cagr of 13.4% over the forecast period 2020 to 2027. the higher demand for illuminating the commercial and industrial space as per the aesthetics of the rooms for better visibility at an affordable price has driven the market growth over the forecast period., the led lighting market is valued at usd 58.91 billion in 2018 and is expected to reach usd 127.97 billion by 2024, with a cagr of 13.75% during the forecast period (2020 - 2025). by transitioning to energy-efficient leds, an estimated savings of usd 18 billion in electricity costs can be achieved..
Led lighting market is forecasted to value over us$ 90.7 billion by 2027 end and register a cagr of 13% from 2020 to 2027 rising demand for deployment of power-efficient illuminating systems in the commercial, industrial and residential sector is driving the growth of the market., the global led lighting market is projected to witness substantial growth in the coming years due to rising demand for technologically advanced electronic devices. light emitting diode (led) is a semiconductor device that produces light when current flows through it..
Led lighting market overview technavio’s latest led lighting market analysis highlights that with a decrease in the average selling price of the chips and components used in manufacturing led devices, the initial installation cost of led lamps and fixtures is steadily decreasing, which has become a primary led lighting market growth driver.