LED Lighting Market And Competition Analysis 2021-2034: Signify, Samsung Electronics, Ams-OSRAM, Nichia, And Acuity Brands Dominate

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, April 11, 2025 (GLOBE NEWSWIRE) -- The "LED Lighting Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2025-2034" report has been added to ResearchAndMarkets.com's offering.
The LED Lighting Market was valued at USD 94.5 billion in 2024, and is projected to reach USD 251.5 billion by 2034, rising at a CAGR of 10.4%. The increasing adoption of LED streetlights and expanding applications in horticulture are key drivers of market growth.

Governments worldwide are implementing smart lighting initiatives to improve energy efficiency, lower maintenance costs, and support sustainability efforts. As cities upgrade infrastructure, the demand for LED solutions continues to rise. The need for adaptive and sensor-based LED lighting that integrates with smart city ecosystems is growing, creating opportunities for manufacturers to develop energy-efficient solutions.
Horticulture is another sector recording a surge in LED adoption. LED grow lights provide optimized light spectra to enhance plant growth, making them an essential tool in commercial agriculture and indoor farming. With smart farming practices on the rise, LED lighting is increasingly integrated with automated control systems, helping farmers regulate light exposure for optimal crop yields. The push for more efficient and sustainable agricultural practices is driving investments in advanced LED grow light technology. As the agriculture industry seeks solutions that improve productivity and efficiency, manufacturers are focusing on developing full-spectrum, energy-efficient lighting options that align with modern farming techniques.
The market is categorized by product type into lamps and luminaires. LED lamps, valued at USD 36.4 billion in 2024, are gaining popularity due to their energy efficiency and long lifespan, reducing electricity consumption and replacement costs. The application segment divides the market into indoor and outdoor lighting, with indoor lighting accounting for 65.6% of the market share in 2024. Offices, commercial spaces, and residential properties are increasingly integrating LED lighting to lower energy expenses and enhance workplace productivity.
Installation is classified into new and retrofit categories, with new installations comprising 50.7% of the market share in 2024. Urban expansion and smart city projects drive the demand for new LED installations as governments prioritize sustainable infrastructure development. The sales channel segment includes retail/wholesale, direct sales, and e-commerce. Retail and wholesale channels dominated the market with a 43.3% share in 2024, as consumer demand for DIY-friendly LED lighting solutions increases.
Based on wattage, the market is segmented into low (below 10W), medium (10W to 50W), and high wattage (above 50W). Medium wattage LEDs held 43% of the market share in 2024, with commercial and industrial sectors preferring them for their balance of brightness and energy efficiency. The technology segment includes chip-on-board (COB), surface-mounted diode (SMD), and others. COB LEDs accounted for 33% of the market in 2024 due to their superior heat dissipation and higher lumen output, making them ideal for high-intensity applications.
North America led the market with a 34.4% share in 2024, driven by energy efficiency regulations and government incentives promoting LED adoption across various industries.
Comprehensive Market Analysis and Forecast

• Industry trends, key growth drivers, challenges, future opportunities, and regulatory landscape
• Competitive landscape with Porter's Five Forces and PESTEL analysis
• Market size, segmentation, and regional forecasts
• In-depth company profiles, business strategies, financial insights, and SWOT analysis

Key Attributes

Report Attribute	Details
No. of Pages	210
Forecast Period	2024-2034
Estimated Market Value (USD) in 2024	$94.5 Billion
Forecasted Market Value (USD) by 2034	$251.5 Billion
Compound Annual Growth Rate	10.4%
Regions Covered	Global

Key Topics Covered
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Industry synopsis
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.2.1 Growth drivers
3.2.1.1 Rising demand for energy-efficient lighting
3.2.1.2 Increasing adoption in smart homes and IoT integration
3.2.1.3 Government regulations and incentives for LED adoption
3.2.1.4 Expansion of LED applications in automotive lighting
3.2.1.5 Rise of UV and IR LED applications
3.2.2 Industry pitfalls and challenges
3.2.2.1 High initial investment costs
3.2.2.2 Limited penetration in rural and underdeveloped areas
3.3 Growth potential analysis
3.4 Regulatory landscape
3.5 Technology landscape
3.6 Future market trends
3.7 Gap analysis
3.8 Porter's analysis
3.9 PESTEL analysis
Chapter 4 Competitive Landscape, 2024
4.1 Introduction
4.2 Company market share analysis
4.3 Competitive analysis of major market players
4.4 Competitive positioning matrix
4.5 Strategy dashboard
Chapter 5 Market Estimates and Forecast, by Product Type, 2021-2034 (USD Bn)
5.1 Key trends
5.2 Lamps
5.2.1 A-type
5.2.2 T-type
5.2.3 Others
5.3 Luminaires
5.3.1 Downlighting
5.3.2 Decorative lighting
5.3.3 Directional lighting
5.3.4 Others
Chapter 6 Market Estimates and Forecast, by Application, 2021-2034 (USD Bn)
6.1 Key trends
6.2 Indoor
6.2.1 Residential
6.2.2 Commercial
6.2.2.1 Offices
6.2.2.2 Retail stores
6.2.2.3 Horticulture gardens
6.2.2.4 Others
6.2.3 Industrial
6.2.4 Others
6.3 Outdoor
6.3.1 Streets and roadways
6.3.2 Architectural buildings
6.3.3 Sports complexes
6.3.4 Tunnels
6.3.5 Others
Chapter 7 Market Estimates and Forecast, by Installation, 2021-2034 (USD Bn)
7.1 Key trends
7.2 New
7.3 Retrofit
Chapter 8 Market Estimates and Forecast, by Sales Channel, 2021-2034 (USD Bn)
8.1 Key trends
8.2 Retail/wholesale
8.3 Direct sales
8.4 E-commerce
Chapter 9 Market Estimates and Forecast, by Wattage, 2021-2034 (USD Bn)
9.1 Key trends
9.2 Low wattage (below 10w)
9.3 Medium wattage (10w to 50w)
9.4 High wattage (above 50w)
Chapter 10 Market Estimates and Forecast, by Technology, 2021-2034 (USD Bn)
10.1 Key trends
10.2 Chip on board (COB)
10.3 Surface mounted diode (SMD)
10.4 Others
Chapter 11 Market Estimates and Forecast, by Region, 2021-2034 (USD Bn)
11.1 Key trends
11.2 North America
11.2.1 U.S.
11.2.2 Canada
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Spain
11.3.5 Italy
11.3.6 Netherlands
11.4 Asia-Pacific
11.4.1 China
11.4.2 India
11.4.3 Japan
11.4.4 Australia
11.4.5 South Korea
11.5 Latin America
11.5.1 Brazil
11.5.2 Mexico
11.5.3 Argentina
11.6 Middle East and Africa
11.6.1 Saudi Arabia
11.6.2 South Africa
11.6.3 UAE
Chapter 12 Company Profiles
12.1 Acuity Brands
12.2 ams-OSRAM
12.3 Colorsled
12.4 Cree LED
12.5 Dialight
12.6 Eaton
12.7 Everlight Electronics
12.8 Hubbell
12.9 Legrand
12.10 Lextar Electronics
12.11 Lite-On Technology
12.12 Nichia
12.13 Panasonic
12.14 Samsung Electronics
12.15 Savant Technologies
12.16 Seoul Semiconductor
12.17 Sharp
12.18 Signify
12.19 Toyoda Gosei
12.20 Zumtobel Group

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