PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1413784
PUBLISHER: Fairfield Market Research | PRODUCT CODE: 1413784
The global architectural LED products market is set to witness a substantial growth trajectory during forecast period 2-24-2031. By the end of 2031, the market is expected to achieve a market value of US$ 40 billion, a remarkable increase from its current size of US$ 15 billion in 2024. This significant expansion underscores the growing demand for energy-efficient lighting solutions and innovative architectural LED products.
Between 2019 and 2023, the utilization of architectural LED products experienced a high CAGR, with the United States, United Kingdom, France, Germany, and Italy holding substantial shares in the global market. The surge in awareness regarding energy-efficient lighting solutions is expected to be a major catalyst for the continued growth of architectural LED products in both commercial and residential sectors.
Rapid infrastructure development and construction activities across various regions of the world are poised to positively impact the sales growth of architectural LED devices. Over the next decade, global sales of these products are projected to accelerate, surpassing previous growth rates.
Government Initiatives to Promote Energy-Efficient Products: Governments and authorities worldwide are increasingly focused on controlling energy consumption, leading to initiatives that promote efficient energy use. For example, the U.S. Department of Energy actively supports energy-efficient practices and standards, bolstering demand for LED systems, including architectural LED products.
Ongoing R&D Boosts Sales: Several industry leaders are heavily investing in research and development to gain a competitive edge by creating innovative lighting solutions. Companies like Philips are at the forefront of investing in breakthrough innovations in smart lighting, enhancing brand reputation and driving product sales.
Opportunities in Non-OECD Countries: Emerging economies such as India, Malaysia, South Africa, Indonesia, Brazil, Chile, Vietnam, and Thailand are witnessing substantial investments in infrastructure development. This presents significant potential for LED architectural products in non-OECD countries.
Suppliers of LED lighting solutions are increasingly focusing on innovation, improved brand awareness, and acquisitions to secure long-term profitability. Companies like Philips are leading the way in adapting to changing industry environments.
Strips & Linear
Lamps
Retail
IT & Telecommunications
Banking, Financial Services & Insurance (BFSI)
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Healthcare
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