LED Light Engine Market size Surge at a Robust Pace in Terms of Revenue over 2026 LED Light Engine Market size Surge at a Robust Pace in Terms of Revenue over 2026
BriefingWire.com, 4/12/2021 - According to Stratistics MRC, the Global LED Light Engine Market is accounted for $21.88 billion in 2017 and is expected to reach $84.53 billion by 2026 growing at a CAGR of 16.2% during the forecast period. The increasing consumer demand for energy-efficient lighting systems, reduction in prices of LEDs, and high penetration of LEDs as a light source in the general lighting market are expected to drive the growth of this market. However, development of alternative technologies and lack of awareness regarding installation costs and payback periods are hindering the growth of LED light engine market across the globe.