LED Lighting Market Size Is Expected To Reach USD 108.99 Billion By 2025 : Grand View Research Inc.
San Francisco, 26 February 2019: The Report LED Lighting Market Size, Share & Trends Analysis Report By Product (Basic LED, High Brightness LED, OLED), By Design (Lamps, Luminaires), By Application (Indoor, Outdoor), And Segment Forecasts, 2018 - 2025 The global LED lighting market size is expected to reach USD 108.99 billion by 2025, according to a new report by Grand View Research, Inc., and will register a CAGR of 14.4% during the forecast period. Continuous development of energy-saving capabilities, introduction of Standard Deviation Color Matching (SDCM) control, and longer lifespan compared to CFL lamps have accelerated demand for LED lamps at a global level. Introduction of smart/connected lighting and its multiple uses in residential, commercial, and industrial sectors has also spurred market growth. Next-generation lighting has become a substitute for incandescent bulbs due to its benefits such as higher efficiency, low cost of operation, and reduced heat losses. Tech