LEDs 98 Percent of Lighting Market by 2025 - Energy Watch News


LEDs 98 Percent of Lighting Market by 2025

According to the latest report ‘Global LED Lighting Market (2017 Update)’, from Frost & Sullivan’s Homes & Building team, the LED lighting market accounted for almost 60 percent of global lighting in 2016 and was worth $47.3 billion, growing 18.1 percent from the previous year. LED lighting is likely to account for 80 percent of the total lighting market by 2020, creating an $80 billion market. By 2025, LED will account for 98 percent of the global lighting market. India, Asia-Pacific, Latin America, and Africa are set to record the highest growth rates. Other developments include a year-on-year growth rate this year of 16.7 percent for the residential LED lighting market. While residential, outdoor, and retail make the highest contributions at present, office, industrial and hospitality are expected to be future growth sectors. https://www.frost.com/sublib/display-report.do?id=MC95-01-00-00-00&src=ww2

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