PUBLISHER: Allied Market Research | PRODUCT CODE: 1139910
PUBLISHER: Allied Market Research | PRODUCT CODE: 1139910
The global energy efficient lighting market was valued at $46,153.8 million in 2021 and is projected to reach $93,303.0 million by 2030, growing at a CAGR of 8.1% from 2022 to 2030.
Increased adoption of energy efficient lights is driving the growth of the global energy efficient lighting market. Furthermore, the leading players are pursuing a variety of strategies in order to secure a dominant position in the global energy efficient lighting market. Investment in smart city projects has increased over time in countries such as Singapore, India, China, Spain, the United Arab Emirates, and Austria. For example, the government of Dubai (UAE) announced the start of a smart city project that includes more than 100 initiatives for developing transportation, communications, and civil infrastructure. Several key players in energy efficient lighting market have initiated to provide smart LEDs to enhance the customer experience.
These lights can be easily controlled by mobile apps like Google assistant, Amazon Alexa, and voice assistants including Siri. The direct use of digital transformation in energy efficient lighting may create enormous opportunities for the global energy efficient lighting market in the coming years.
The global energy efficient lighting market is segmented on the basis of source, application, and region. By source, the market is classified into high-intensity discharge lamps (HID), linear fluorescent lamps (LFL), light emitting diodes (LED) and others. By application, the analysis has been divided into home, commercial and industrial. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include: Eaton, Philips, General Electric, Toshiba Corporation, ABB, Schneider Electric, Advanced Lighting Technologies Australia Inc., NICHIA CORPORATION, Bridgelux and Digital Lumens, Inc.
Key Market Segments
By Source
By Application
By Region