LED Lighting Market To Reach US$30.5 Billion In 2016 And Professional Lighting Markets To See Explosive Growth

- Aug 24, 2017-

The scale of the LED lighting market is growing steadily, according to 2016 Global LED Lighting Market Trends Report by LEDinside, a division of TrendForce. LEDinside estimates that the scale of the LED lighting market will reach US$25.7 billion in 2015 and expand to US$30.5 billion in 2016. The penetration rate of LED lighting is also projected to climb from 31% in 2015 to 36% in 2016.

Lighting companies have focused on professional lighting solutions in developed markets such as the U.S., Europe and Japan. They seek to capture certain market segments via product diversification and differentiation. In the emerging markets, rapid economic growth, favorable government policies, and mega urban projects are constantly generating new opportunities.  The main growth centers in the global lighting market next year will be the U.S. and India.