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LED Lighting Market Value Anticipated To Reach US$ 98.6 Billion By 2027: Acumen Research And Consulting


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LOS ANGELES, May 11, 2021 (GLOBE NEWSWIRE) The 
Global LED Lighting Market is expected to grow at a CAGR of around 13.5% from 2020 to 2027 and reach a market value of over US$ 98.6 Bn by 2027.
The Asia Pacific region is expected to have the largest market share in the global LED lighting market. Furthermore, Asia Pacific maintains its fastest growing CAGR throughout the forecast period. With manufacturing facilities in China, Taiwan, South Korea, and Japan, Asia Pacific is recognized as the major supplier of LED chips and packages and thus plays a decisive role in the pricing of LED luminaries. The European debt crisis harmed demand for LEDs, as their production requires massive capital investments. Due to government support and the growing use of ultra-modern lighting in a variety of industries, Europe and North America have seen a surge in demand for LED lighting in recent years.  ....

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Worldwide Smart Lighting Industry to 2025 - Continually Declining Average Selling Price of LED Bulbs is Driving the Market


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The increasing worldwide demand for energy is responsible for a rise in energy prices, tight energy supplies, and growing anxiety about climate change and related liabilities. The lighting segment consumes most of the electricity in residential, commercial, and industrial sectors. Lighting accounts for 15% of total electricity consumption and 5% of total greenhouse gas emissions worldwide.
The future global economy is expected to consume more energy resources, especially with the growing energy demand from developing countries, such as China and India. Additionally, the risk of climate change associated with the use of fossil fuels has made the supply of energy increasingly difficult. Amidst the increasing energy demand and environmental concern, smart lighting systems are gaining popularity and are expected to grow at a noteworthy rate in the coming years. With the installation of the smart l ....

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