Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
Explore Our Diverse Range Of Offerings
From detailed reports to experts services offered in 15+
Industry Domains
Trending Now
Add 2 More Reports For 20% off
What's Impacting the Industry?
Impact of the Build America, Buy America Act?
- Overview of the Act and its key provisions
- Implications for Manufacturing and Sourcing
- Opportunities and Challenges for Market Participants
Impact of the New Political Administration
- Overview of the Administration's Energy and Infrastructure Policies
- Potential Changes in Regulations and Incentives
- Implications for Market Growth and Investment
- Impact on International Trade and Collaboration
Latest Updates
- Impact on International Trade and Collaboration
- EU's Digital Markets Act (DMA) and Digital Services Act (DSA)
- US Inflation Reduction Act (IRA) Provisions
Report Overview
The global LED market reached a value of nearly USD 82.80 Billion in 2024. The market is assessed to grow at a CAGR of 11.80% during the forecast period of 2025-2034 to attain a value of around USD 252.61 Billion by 2034. The market is being aided by favourable government initiatives, the rising focus on energy-efficiency, technological advancements and innovations, and diverse applications of LED lights.
2024
Base Year
2018-2024
Historical Year
2025-2034
Forecast Year
- While high-quality LED lamps consume 75% less energy than their incandescent counterparts, they last 25 times longer than incandescent bulbs. The energy efficiency and high durability of LEDs make them highly sought after for both residential and commercial applications. With customers and companies becoming more environmentally conscious, the adoption of LEDs for reducing carbon footprints is increasing.
- There is a growing adoption of LED luminaries as indoor lighting solutions due to their low power consumption, durability, lower operating costs, and minimal heat protection. As per the Residential Energy Consumption Survey (RECS), 47% of households in the US reported using LEDs for most or all of their indoor lighting in 2020. To meet the growing demand for LEDs in indoor lighting, manufacturers are expanding their product portfolio to include decorative lighting, smart LEDs, and speciality products designed for different household applications.
- The development of AI-powered LED lights that can adjust lighting based on factors like ambient light levels, occupancy, and time of day is expected to drive the LED market development. AI algorithms can also regulate the colour temperature and intensity of LEDs to align with circadian rhythms, improving productivity, mood, and sleep quality.
Compound Annual Growth Rate
Value in USD Billion
11.8%
2025-2034
LED Market Outlook
*this image is indicative*
| Global LED Market Report Summary | Description | Value |
| Base Year | USD Billion | 2024 |
| Historical Period | USD Billion | 2018-2024 |
| Forecast Period | USD Billion | 2025-2034 |
| Market Size 2024 | USD Billion | 82.80 |
| Market Size 2034 | USD Billion | 252.61 |
| CAGR 2018-2024 | Percentage | XX% |
| CAGR 2025-2034 | Percentage | 11.8% |
| CAGR 2025-2034 - Market by Region | Asia Pacific | 13.6% |
| CAGR 2025-2034 - Market by Country | India | 15.6% |
| CAGR 2025-2034 - Market by Country | China | 13.0% |
| CAGR 2025-2034 - Market by Type | Surface Mount LED (SMD LED) | 14.2% |
| CAGR 2025-2034 - Market by Application | Lighting | 13.3% |
| Market Share by Country 2024 | France | 3.3% |
Global LED Market Growth
The introduction of favourable government initiatives promoting the adoption of energy-efficient lighting solutions is driving the LED market expansion. For instance, the city of Vancouver has launched a USD 26 million plan to replace 44,000 of its 55,000 streetlights with LEDs by 2026 whereas the National Highways of the UK has invested GBP 132 million over a five-year period to install LED lights across its network to at least 70%.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
3D printing technology is expected to revolutionise the LED market landscape in the forecast period. 3D-printed LED luminaries boast lower carbon emissions and high recyclability and are lightweight and highly energy-efficient. Moreover, the rising use of recycled materials from waste streams in the 3D printing of LED luminaries is expected to drive the market.
Increasing research and development efforts aimed at leading to improvements in LED technology, resulting in higher brightness levels, better colour accuracy, increased efficiency, and reduced production costs are likely to further propel the market in the coming years.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Purchase the Regional Overview for
USD 1099
If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.
Key Trends and Recent Developments
Increasing construction activities; extensive applications of LED; surging demand for smart lighting solutions; and the growing trend of miniaturisation are favouring the LED market expansion.
Increasing construction activities to bolster the market demand for LED
The requirement for efficient lighting at various construction sites is increasing as the right lighting reduces the chance of mishaps that take place due to unclear vision, thereby fuelling the LED market expansion. With features like extraordinary high-quality lighting, minimal maintenance, and reduced energy costs, the demand for LED is expected to propel in various applications, thereby boosting overall market expansion. Additionally, the usage of LED to gain large energy savings is attracting consumers to adopt LED over small and larger construction sites.
Extensive applications of LED to aid the market
The market growth is being driven by the various applications of LED lights in activities, such as photography, interior designing, and other uses. In addition, over the past few decades, LED has witnessed a rise in the integration of concepts like AI and IoT, which is helping light manufacturing companies to extend their capacities and produce innovative products. Also, the adoption of signals and signages from various companies, institutions, or governments, is expected to increase over the forecast period.
Growing deployment of smart lighting solutions in the residential and commercial sectors
Smart lighting solutions, which include LED-based systems controlled by smartphones, voice commands, or sensors, are gaining popularity. These systems offer features like remote control, automated dimming, colour tuning, and energy management. The Internet of things (IoT) integration in smart lighting is further expanding the market.
Rising trend of miniaturisation in lighting applications
Miniaturisation is one of the significant market trends, driven by the demand for smaller, more energy-efficient, and versatile lighting and display solutions. Micro-LEDs and mini-LEDs are extremely small LED components with individual pixel sizes on the micron scale. They are used in various applications, including displays (such as smartphones, TVs, and wearables) and fine-pitch LED displays. These technologies offer higher pixel densities, improved brightness, and enhanced colour accuracy.
Global LED Market Trends
Voice assistants like Amazon Alexa, Google Assistant, and Apple's Siri have made it easier for users to control smart lighting using voice commands. Voice-controlled lighting is gaining popularity for its convenience and hands-free operation. Furthermore, smart lighting systems often incorporate sensors for motion detection, ambient light sensing, and occupancy detection. This enables automated lighting adjustments based on user presence and daylight levels, improving energy efficiency.
Thin and flexible LED technologies, often referred to as "flexible OLEDs" or "flexible LED displays," made on flexible substrates are gaining significant popularity. These LEDs are bendable, rollable, and conformable, allowing for innovative designs and applications, including curved screens, wearable displays, and automotive lighting.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Global LED Industry Segmentation
The EMR’s report titled “Global LED Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Pinned LED
- Surface Mount LED (SMD LED)
- Chip on Board LED
- Others
Market Breakup by Technology
- Basic LED
- Micro LED
- High Brightness LED
- OLED
- Ultra Violet LED
- Polymer LED
- Others
Market Breakup by Application
- Lighting
- Automotive
- Electronic Devices
- Signal and Signage
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
| CAGR 2025-2034 - Market by | Country |
| India | 15.6% |
| China | 13.0% |
| UK | 10.8% |
| USA | 10.5% |
| Germany | 9.7% |
| Canada | XX% |
| France | XX% |
| Italy | XX% |
| Japan | 8.1% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
Global LED Market Share
As per the LED market analysis, the Asia Pacific is estimated to grow at a CAGR of 13.6% during the forecast period of 2025-2034. This is driven by the rising number of consumers preferring LEDs over conventional CFL and CCFL due to the advanced features offered by the LEDs. In addition, LED is a cost-effective solution for any lighting and other applications purposes like backlighting in automotive lighting and large screen displays, among others. Such vast applications of LED are providing a boost to the market growth in the region, which is fuelled by a robustly increasing population.
Meanwhile, LED adoption in North America is being driven by energy efficiency regulations and rebates. LEDs are widely used for residential, commercial, and industrial lighting. The U.S. is also a hub for LED research and development. Similar to the U.S., Canada promotes energy-efficient lighting through regulations and incentives. LEDs are commonly used in both residential and commercial applications in the region.
Read more about this report - REQUEST FREE SAMPLE COPY IN PDF
Competitive Landscape
Key LED market players are developing smart LED solutions that can integrate with home automation systems to enable users to control lighting via voice assistants and mobile apps. They are also actively investing in research activities to improve LED performance, lower costs, and develop new applications.
OSRAM Licht AG
OSRAM Licht AG, headquartered in Munich, Germany, and established in 1919, is a leader in intelligent sensors and emitters. Its product portfolio includes sensors, semiconductor-based light emitters, CMOS ICs and software as well as traditional lighting technologies for special and automotive applications. In 2023, it achieved EUR 3.6 billion in revenue.
Nichia Corporation
Nichia Corporation, established in 1956, is a leading manufacturer and seller of fine chemicals, especially inorganic luminescent materials (phosphors). Headquartered in Tokushima, Japan, the company’s Optoelectronics business is focused on the development and manufacturing of laser diodes and LEDs.
Signify N.V.
Signify N.V., headquartered in Eindhoven, the Netherlands, is a global leader in lighting. Established in 2016, the company’s products and solutions support transforming lives in buildings, public spaces, and homes. With a presence in over 70 countries, it generated sales of EUR 6.7 billion in 2023.
Lumileds Holding B.V.
Lumileds Holding B.V., established in 1999, is engaged in developing display, automotive, mobile, and extended reality (XR) illumination light sources and solutions. Employing 3,500 individuals in over 15 locations, the company serves various sectors such as entertainment, architecture, horticulture, and sports, among others.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the LED market include Seoul Semiconductor Co Ltd, LG Electronics Inc., Samsung Electronics Co. Ltd., PlayNitride Inc., and Cambridge Display Technology Limited., among others.
Our Top Selling Reports
LED Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Looking for specific insights?
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
Key Questions Answered in the Report
In 2024, the market reached an approximate value of USD 82.80 Billion.
The market is assessed to grow at a CAGR of 11.80% between 2025 and 2034.
The major industry drivers include the growing demand for electronics devices, adoption of signals and signages from various companies, institutions, or government, increasing focus by the government on energy saving solutions, expanding display and large screen backlighting market, and rising number of consumers preferring LEDs over conventional CFL and CCFL.
The key market trends guiding the growth of the industry include the easy visibility and attraction of the LED lights outside shops which enables the consumers to spot the new shop easily and various applications of LED lights in activities, such as photography, interior designing.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with Asia Pacific accounting for significant share in the market.
Pinned LED, surface mount LED (SMD LED), and chip on board LED, among others are the types of LEDs in the market.
Basic LED, micro-LED, high brightness LED, OLED, ultra violet LED, and polymer LED, among others, are the technologies in which the industry can be segmented into.
Lighting, automotive, electronic devices, signal and signage, among others are the different applications of the product.
The major players in the industry are OSRAM Licht AG, Nichia Corporation, Signify N.V, Lumileds Holding B.V., Seoul Semiconductor Co Ltd., LG Electronics Inc., Samsung Electronics Co. Ltd., PlayNitride Inc., and Cambridge Display Technology Limited., among others.
The market is estimated to witness healthy growth in the forecast period of 2025-2034 to reach a value of around USD 252.61 Billion by 2034.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
|
| Breakup by Technology |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
Datasheet
One User
USD 2,499
USD 2,249
tax inclusive*
- Selected Segments
- Printing Restrictions
- Excel Spreadsheet Delivered via Email
- Full Report
- Periodic Updates
- Post Sales Analysts Support
- Unlimited Prints
Single User License
One User
USD 3,999
USD 3,599
tax inclusive*
- All Segments
- Printing Restrictions
- PDF Delivered via Email
- Custom Report Layout
- Post Sales Analysts Support
- Periodic Updates
- Unlimited Prints
Five User License
Five User
USD 4,999
USD 4,249
tax inclusive*
- All Segments
- Five Prints Available
- PDF Delivered via Email
- Limited Free Customization
- Post Sales Analyst Support
- Custom Report Layout
- Periodic Updates
- Unlimited Prints
Corporate License
Unlimited Users
USD 5,999
USD 5,099
tax inclusive*
- All Segments
- Unlimited Prints Available
- PDF & Excel Delivery via Email
- Limited Free Customization
- Post Sales Analysts Support
- Discount On Next Update
- Custom Report Layout
*Please note that the prices mentioned below are starting prices for each bundle type. Kindly contact our team for further details.*
Bundle Type
Flash Bundle
20% OFF
Number of Reports: 3
Small Business Bundle
25% OFF
Number of Reports: 5
Growth Bundle
30% OFF
Number of Reports: 8
Enterprise Bundle
35% OFF
Number of Reports: 10
Overview
- Life Time Access
- Analyst Support Related to Report
- PDF Version of the Report
- Complimentary Excel Data Set
- Free Analyst Hours
- Complimentary Free 1 Month Subscription to Trade Data Base
- Complimentary One Month Subscription to Price Database (Chemicals only)
- Complementary PPT Version of the Report
- Complimentary License Upgrade
- Complimentary Power BI Dashboards
- Life Time Access
- Analyst Support Related to Report
- PDF Version of the Report
- Complimentary Excel Data Set
- Free Analyst Hours - 50 Hours
- Complimentary Free 1 Month Subscription to Trade Data Base
- Complimentary One Month Subscription to Price Database (Chemicals only)
- Complementary PPT Version of the Report
- Complimentary License Upgrade
- Complimentary Power BI Dashboards
- Life Time Access
- Analyst Support Related to Report
- PDF Version of the Report
- Complimentary Excel Data Set
- Free Analyst Hours - 80 Hours
- Complimentary Free 1 Month Subscription to Trade Data Base
- Complimentary One Month Subscription to Price Database (Chemicals only)
- Complementary PPT Version of the Report
- Complimentary License Upgrade
- Complimentary Power BI Dashboards
- Life Time Access
- Analyst Support Related to Report
- PDF Version of the Report
- Complimentary Excel Data Set
- Free Analyst Hours - 100 Hours
- Complimentary Free 1 Month Subscription to Trade Data Base
- Complimentary One Month Subscription to Price Database (Chemicals only)
- Complementary PPT Version of the Report
- Complimentary License Upgrade
- Complimentary Power BI Dashboards
*Please note that the prices mentioned below are starting prices for each bundle type. Kindly contact our team for further details.*
Flash Bundle
Number of Reports: 3
20%
tax inclusive*
- 3 Reports Included
- Life Time Acess
- Analyst Support Related to Report
- PDF Version of the Report
- Free 1 Month Subscription to Trade Data Base
- 1 Month Subscription to Price Database (Chemicals only)
- Complimentary Excel Data Set
- PPT Version of the Report
- Power BI Dashboards
- License Upgrade
- Free Analyst Hours
Small Business Bundle
Number of Reports: 5
25%
tax inclusive*
- 5 Reports Included
- Life Time Acess
- Analyst Support Related to Report
- PDF Version of the Report
- Complimentary Excel Data Set
- Free Analyst Hours - 50 Hours
- Free 1 Month Subscription to Trade Data Base
- 1 Month Subscription to Price Database (Chemicals only)
- Complimentary Excel Data Set
- PPT Version of the Report
- Power BI Dashboards
- License Upgrade
Growth Bundle
Number of Reports: 8
30%
tax inclusive*
- 8 Reports Included
- Life Time Acess
- Analyst Support Related to Report
- PDF Version of the Report
- Complimentary Excel Data Set
- Free Analyst Hours - 50 Hours
- Free 1 Month Subscription to Trade Data Base
- 1 Month Subscription to Price Database (Chemicals only)
- License Upgrade
- Free Analyst Hours - 80 Hours
- Power BI Dashboards
Enterprise Bundle
Number of Reports: 10
35%
tax inclusive*
- 10 Reports Included
- Life Time Acess
- Analyst Support Related to Report
- PDF Version of the Report
- Complimentary Excel Data Set
- Free Analyst Hours - 50 Hours
- Free 1 Month Subscription to Trade Data Base
- 1 Month Subscription to Price Database (Chemicals only)
- License Upgrade
- Power BI Dashboards
- Free Analyst Hours - 100 Hours
How To Order
Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Strategic Solutions for Informed Decision-Making
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
- Our Insights Store:
-
Industry Statistics
-
Procurement Insights
-
Consumer Insights
Our Offices
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-723-689-1189
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
United States
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-723-689-1189
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
Share