LED lighting market size was valued around USD 16 billion in 2014 and is expected to grow at CAGR of over 28% from 2016 to 2023. It is anticipated to reach over USD 45 billion over the forecast period. The industry is likely to achieve share of around 84% of lumen-hour market sales in the general illumination market by 2030.

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Fuel Cell Market size worth $25.5bn by 2024Low Power Wide Area Network
LED lighting Market size forecast to witness growth at 28 % CAGR from 2016
to 2023, to reach over USD 45 billion during forecast period: Global Market
Insights Inc.

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 The industry can be further bifurcated on the basis of region which includes
North America, Europe, Asia Pacific, Latin America and MEA.
 Asia Pacific LED lighting market developed relatively earlier and accounted for
over 40% of the overall share in 2014.
 China LED lighting market is expected to grow at a CAGR of over 35% from
2016 to 2023.
Regional Analysis of LED Lighting Market:

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 The commercial LED lighting market is primarily driven by energy efficiency and
enhanced controllability over the forecast period.
 The consumers are willing to pay for a new lighting fixture for the first
installation.
 For residential and office lighting sectors, the average cost increases to 30%
and 39% respectively.
 Key application markets include industrial lighting, outdoor lighting, architectural
lighting and commercial lighting.
Application Analysis of LED Lighting Market:

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 Epistar is mainly focused on 200mm technology. Other major companies such as
Philips, Samsung and OSRAM are concentrating GaN on silicon technology.
 Industry shifts offer entry points for new players and build momentous
opportunities to achieve rapid increase in share.
Competitive Market Share of LED Lighting Market:

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