{"id":1492,"date":"2024-07-19T08:11:27","date_gmt":"2024-07-19T08:11:27","guid":{"rendered":"https:\/\/www.innoviusresearch.com\/blog\/?p=1492"},"modified":"2024-07-19T08:11:28","modified_gmt":"2024-07-19T08:11:28","slug":"illuminating-growth-key-statistics-in-the-led-lighting-market","status":"publish","type":"post","link":"https:\/\/www.innoviusresearch.com\/blog\/market-report\/illuminating-growth-key-statistics-in-the-led-lighting-market\/","title":{"rendered":"Illuminating Growth: Key Statistics in the LED Lighting Market"},"content":{"rendered":"\n<p>In our <a href=\"https:\/\/www.innoviusresearch.com\/blog\/market-report\/illuminating-the-future-trends-driving-global-led-lighting-market-growth\/\" title=\"previous article\">previous article<\/a>, we explored the growth trajectory of the global LED market, delving into future forecasts, recent trends, and notable developments. Building on that foundation, this article will present a detailed analysis of current trends supported by relevant statistics, providing a clearer picture of the market dynamics and what to expect in the near future.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Global Demand&nbsp; For LED Lighting Market Across Diverse Sectors&nbsp; in 2023<\/strong><\/h5>\n\n\n\n<p><strong>LED<\/strong> lighting offers energy-efficient solutions for homes, productive illumination in commercial spaces, conducive environments in healthcare and education, safety in public areas, enhanced lighting in parking lots, aesthetic appeal outdoors, and durable illumination in sports arenas.<\/p>\n\n\n\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6580330613220222\"\n     crossorigin=\"anonymous\"><\/script>\n<ins class=\"adsbygoogle\"\n     style=\"display:block; text-align:center;\"\n     data-ad-layout=\"in-article\"\n     data-ad-format=\"fluid\"\n     data-ad-client=\"ca-pub-6580330613220222\"\n     data-ad-slot=\"2367613624\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script>\n\n\n\n<p>In <strong>2023<\/strong>&nbsp;the market distribution was <strong>Commercial (31%)<\/strong>, <strong>Residential (27%)<\/strong>, <strong>Industrial (24%)<\/strong>, <strong>Agricultural Lighting (10%)<\/strong>, and <strong>Others (8%)<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"925\" height=\"521\" src=\"https:\/\/www.innoviusresearch.com\/blog\/wp-content\/uploads\/2024\/07\/Slide5-12.jpg\" alt=\"Global Led Market Share , By End Users in 2023(%) - Innovius Research\" class=\"wp-image-1496\" srcset=\"https:\/\/www.innoviusresearch.com\/blog\/wp-content\/uploads\/2024\/07\/Slide5-12.jpg 925w, https:\/\/www.innoviusresearch.com\/blog\/wp-content\/uploads\/2024\/07\/Slide5-12-300x169.jpg 300w, https:\/\/www.innoviusresearch.com\/blog\/wp-content\/uploads\/2024\/07\/Slide5-12-768x433.jpg 768w\" sizes=\"auto, (max-width: 925px) 100vw, 925px\" \/><figcaption class=\"wp-element-caption\"><strong><em>Global Led Market Share, By End Users in 2023(%)<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n<p>Worldwide, there is a growing demand for LEDs owing to their energy-saving features, cost advantages, and superior overall performance.<\/p>\n\n\n\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6580330613220222\"\n     crossorigin=\"anonymous\"><\/script>\n<ins class=\"adsbygoogle\"\n     style=\"display:block; text-align:center;\"\n     data-ad-layout=\"in-article\"\n     data-ad-format=\"fluid\"\n     data-ad-client=\"ca-pub-6580330613220222\"\n     data-ad-slot=\"2367613624\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Diverse LED Applications And Global Market Revenue Growth In 2021<\/strong><\/h5>\n\n\n\n<p>The LED Lighting market thrives with innovative lighting solutions, driving global revenue.<\/p>\n\n\n\n<p>In <strong>2021<\/strong>, the <strong>market<\/strong> <strong>revenue<\/strong> <strong>share<\/strong> for <strong>LED<\/strong> <strong>applications<\/strong> was dominated by <strong>General<\/strong> <strong>Lighting<\/strong> <strong>(33%)<\/strong>, followed by <strong>Automotive (18%)<\/strong>, and <strong>Video Wall (11%),<\/strong> <strong>Consumer and Others (10%), Large Display Backlight (9%)<\/strong>, <strong>Mobile Appliance (6%), Architecture Lighting (6%), <\/strong>and <strong>Invisible LED (5%)<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"925\" height=\"521\" src=\"https:\/\/www.innoviusresearch.com\/blog\/wp-content\/uploads\/2024\/07\/Slide3-21.jpg\" alt=\"Global  Led Market Revenue Share, By Application in 2021(%)-Innovius Research\" class=\"wp-image-1497\" srcset=\"https:\/\/www.innoviusresearch.com\/blog\/wp-content\/uploads\/2024\/07\/Slide3-21.jpg 925w, https:\/\/www.innoviusresearch.com\/blog\/wp-content\/uploads\/2024\/07\/Slide3-21-300x169.jpg 300w, https:\/\/www.innoviusresearch.com\/blog\/wp-content\/uploads\/2024\/07\/Slide3-21-768x433.jpg 768w\" sizes=\"auto, (max-width: 925px) 100vw, 925px\" \/><figcaption class=\"wp-element-caption\"><strong><em>Global\u00a0 Led Market Revenue Share, By Application in 2021(%)<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n<p>The expanding adoption of LEDs across diverse applications amplifies revenue share, promising sustained market growth and enhanced energy efficiency.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>Top 10 Lighting Manufacturers Third Quarter Revenue in 2023<\/strong><\/h5>\n\n\n\n<p>In <strong>2023<\/strong>, as per a report, the revenue of the top 10 <strong>Lighting<\/strong> <strong>Manufacturers<\/strong> for the <strong>3<sup>rd<\/sup><\/strong> <strong>quarter<\/strong> was <strong>Signify ($1.745 billion), Acuity Brands ($1 billion), <\/strong>and <strong>Panasonic ($0.477 billion) <\/strong>lead the top three, collectively accounting for about <strong>63%<\/strong> of the total revenue, followed by <strong>Ledvance ($0.448), Zumbtobel ($0.314)<\/strong>, <strong>Current ($0.283), Opple ($0.274)<\/strong>, <strong>Savant Systems (0.258), Toshiba ($0.210) and Fagerhult($0.190)<\/strong>.<\/p>\n\n\n\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6580330613220222\"\n     crossorigin=\"anonymous\"><\/script>\n<ins class=\"adsbygoogle\"\n     style=\"display:block; text-align:center;\"\n     data-ad-layout=\"in-article\"\n     data-ad-format=\"fluid\"\n     data-ad-client=\"ca-pub-6580330613220222\"\n     data-ad-slot=\"2367613624\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"925\" height=\"521\" src=\"https:\/\/www.innoviusresearch.com\/blog\/wp-content\/uploads\/2024\/07\/Slide4-18.jpg\" alt=\"Revenue Ranking Of Top 10 Lighting Manufacturers in 3rd Quarter in 2023 ($ Billion)-Innovius Research\" class=\"wp-image-1498\" srcset=\"https:\/\/www.innoviusresearch.com\/blog\/wp-content\/uploads\/2024\/07\/Slide4-18.jpg 925w, https:\/\/www.innoviusresearch.com\/blog\/wp-content\/uploads\/2024\/07\/Slide4-18-300x169.jpg 300w, https:\/\/www.innoviusresearch.com\/blog\/wp-content\/uploads\/2024\/07\/Slide4-18-768x433.jpg 768w\" sizes=\"auto, (max-width: 925px) 100vw, 925px\" \/><figcaption class=\"wp-element-caption\"><strong><em>Revenue Ranking Of Top 10 Lighting Manufacturers in 3<sup>rd<\/sup> Quarter in 2023 ($ Billion)<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n<p>Outdoor lighting and renovation projects surged, while subdued demand is noticeable in retail and indoor sectors stabilizing the overall market demand.<\/p>\n\n\n\n<p><strong>Global LED Lighting Market Shift in 2021<\/strong><\/p>\n\n\n\n<p>In <strong>2021<\/strong>, As per a report, The Global LED lighting market shows a significant adoption of <strong>new installations (60%)<\/strong> and <strong>Retrofit Installation (40%)<\/strong>. This trend arises from the necessity to replace conventional lighting systems with advanced lamps and controls, particularly in newly constructed commercial, industrial, and residential spaces.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"925\" height=\"521\" src=\"https:\/\/www.innoviusresearch.com\/blog\/wp-content\/uploads\/2024\/07\/Slide6-8.jpg\" alt=\"LED Lighting Market, Installation Type Breakdown  in 2021 (%)-Innovius Research\" class=\"wp-image-1499\" srcset=\"https:\/\/www.innoviusresearch.com\/blog\/wp-content\/uploads\/2024\/07\/Slide6-8.jpg 925w, https:\/\/www.innoviusresearch.com\/blog\/wp-content\/uploads\/2024\/07\/Slide6-8-300x169.jpg 300w, https:\/\/www.innoviusresearch.com\/blog\/wp-content\/uploads\/2024\/07\/Slide6-8-768x433.jpg 768w\" sizes=\"auto, (max-width: 925px) 100vw, 925px\" \/><figcaption class=\"wp-element-caption\"><strong><em>LED Lighting Market, Installation Type Breakdown\u00a0 in 2021 (%)<\/em><\/strong><\/figcaption><\/figure>\n\n\n\n<p>The progression of the global LED market is evident in the increasing adoption of advanced lighting solutions and a decrease in retrofit installations.<\/p>\n\n\n\n<script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-6580330613220222\"\n     crossorigin=\"anonymous\"><\/script>\n<ins class=\"adsbygoogle\"\n     style=\"display:block; 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7 Layers<\/span><\/div><\/a><\/li><\/ul><\/div><p><\/p>","protected":false},"excerpt":{"rendered":"<p>In our previous article, we explored the growth trajectory of the global LED market, delving into future forecasts, recent trends, and notable developments. Building on that foundation, this article will present a detailed analysis of current trends supported by relevant statistics, providing a clearer picture of the market dynamics and what to expect in the&hellip; <a class=\"more-link\" href=\"https:\/\/www.innoviusresearch.com\/blog\/market-report\/illuminating-growth-key-statistics-in-the-led-lighting-market\/\">Continue reading <span class=\"screen-reader-text\">Illuminating Growth: Key Statistics in the LED Lighting Market<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":1501,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[10],"tags":[],"class_list":["post-1492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-report","entry"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.innoviusresearch.com\/blog\/wp-json\/wp\/v2\/posts\/1492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.innoviusresearch.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.innoviusresearch.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.innoviusresearch.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.innoviusresearch.com\/blog\/wp-json\/wp\/v2\/comments?post=1492"}],"version-history":[{"count":4,"href":"https:\/\/www.innoviusresearch.com\/blog\/wp-json\/wp\/v2\/posts\/1492\/revisions"}],"predecessor-version":[{"id":1502,"href":"https:\/\/www.innoviusresearch.com\/blog\/wp-json\/wp\/v2\/posts\/1492\/revisions\/1502"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.innoviusresearch.com\/blog\/wp-json\/wp\/v2\/media\/1501"}],"wp:attachment":[{"href":"https:\/\/www.innoviusresearch.com\/blog\/wp-json\/wp\/v2\/media?parent=1492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.innoviusresearch.com\/blog\/wp-json\/wp\/v2\/categories?post=1492"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.innoviusresearch.com\/blog\/wp-json\/wp\/v2\/tags?post=1492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}