Research Nester’s recent market research analysis on “LED Lighting Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global LED lighting market in terms of market segmentation by product, application, sales channel, end-user and by region.
Growing Adoption of Smart LED Lighting with Integration of Internet of Things (IoT) to Boost the Growth of Global LED Lighting Market
The global market for LED lighting is estimated to grow on account of the rising integration of IoT. As businesses and consumers increasingly recognize the advantages of intelligent, energy-efficient, and connected lighting systems, the trend of smart LED lighting with IoT integration is predicted to develop rapidly. LEDs are typically a part of any smart lighting system that requires lighting control components. Connected lighting control systems can improve people's quality of life and make them smarter, happier, and healthier while having a much less environmental effect than conventional lighting.

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Moreover, commercial and industrial settings are where large-scale smart lighting systems are most frequently used. They can, however, also be used in the residential sector and produce comparable efficiencies there. Simply switching to LED home lighting quickly saves energy usage, which benefits energy budgets. The advantages of connected LED lighting, such as smart dimming, occupancy sensing, auto notifications, remote system monitoring and maintenance, and connectivity with other systems like HVAC, are extensive and similar to those enjoyed by corporations and governments. The use of connected technology for environmental purposes by smart apartment buildings and smart private homes will become more prevalent in the global fight against climate change.
Some of the major growth factors and challenges that are associated with the growth of the global LED lighting market are:
Growth Drivers:
• Growing Focus to Save Energy
• Rise in Efficiency in LED Lighting
Challenges:
LED lighting solutions can cost more upfront than traditional lighting options like incandescent or fluorescent bulbs. Due to their higher initial cost, some customers could be discouraged from switching even if LED lights have a longer lifespan and provide long-term cost benefits. Consequently, this element can limit market expansion.

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By product, the market for LED lighting is segmented into lamps and luminaries. Out of these segments, the luminaries segment is estimated to garner the largest revenue by growing at the highest CAGR of 14.3 over the forecast period. LED luminaires use less energy, last longer, and generate less heat. LED luminaires stand out for their great light quality, ease of installation, availability in a wide range of sizes and forms for a variety of applications, and very competitive price/performance ratio. LED luminaries are a wonderful option for people wishing to conserve energy, improve lighting quality, and enhance the aesthetics of any given site because they are flexible and adaptable to any setting. All of these are enhancing the market potential for LED lights by acting as a catalyst.

By region, the market in North America for LED lighting is estimated to have significant growth over the forecast period with a CAGR of 13.5 % . Smart lighting systems that incorporate LED lighting and the Internet of Things (IoT) have been quickly adopted across North America. As a result, lighting systems may be dynamically controlled, automated, and customized, improving both user experience and energy savings.

This report also provides the existing competitive scenario of some of the key players of the global LED lighting market which includes company profiling of Acuity Brands, Inc., Cree Lighting, Dialight, Digital Lumens, Incorporated, Hubbell, LSI Industries Inc, Siteco GmbH, Signify Holding, Seoul Semiconductor Co., Ltd., Zumtobel Group AG, Panasonic Corporation, Koizumi Lighting Technology Corp, ATEX Co., Ltd, Nichia Corporation, and others.

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