The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The increased government focus on saving energy are expected to drive innovation in light emitting diode manufacturing, thus driving the market during the forecast period.

The global light emitting diode market is expected to grow from $70.11 billion in 2022 to $78.23 billion in 2023 at a compound annual growth rate (CAGR) of 11.6%. The global light emitting diode (LED) market size is expected to grow to $110.73 billion in 2027 at a CAGR of 9.1%.

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Global Light Emitting Diode Market Segments Include:

• By Product Type: LED Lamps, LED fixtures
• By Technology: Basic LED, High Brightness LED, OLED, Polymer, Ultra violet LED
• By End-user: Residential, Commercial, Industrial
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global light emitting diode market in 2021.

Major Market Players in the light emitting diode market include OSRAM Licht AG, Cree Inc., Phillips Lighting Holding, Lumiled holding B.V, Cooper Industries, Virtual Extension, Dialight PLC., Zumtobel Group AG.

Production of LEDs specifically for horticulture is an emerging trend in the light emitting diode (LED) market. Light plays an important role in promoting the plant’s growth and LEDs have the capability to control the spectrum of the light provided to the plants irrespective of the season. The LED lights used in horticulture not only promotes growth of the fruits and plants but also enhances flavor, color and yields in a shorter time. For instance, in March 2022, Acuity Brands, a US-based lighting and building management firm, launched Verjure brand, a new LED horticulture lighting solution that promotes more consistent and sustainable crop production. The Verjure Pro Series LED has a unique rotational outer module feature that allows for good lighting uniformity on the canopy, and detachable lenses are simple to clean, allowing for full light output to be maintained.

The Light Emitting Diode Global Market Report 2023  provides a light emitting diode market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The light emitting diode market forecast analyzes light emitting diode market size, light emitting diode market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

A light emitting diode (LED) is a semiconductor device that emits light as an electrical current pass through it. LEDs are very small, consume less electric power, and can emit lights of different colours based on the semiconductor used in it. It is widely used in the backlighting of TV, mobile phones, automotive lighting, and display boards.

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