LEDs Set To Ignite The Big Board

Grand View Research’s recent report says the global LED lighting market size is expected to reach $108.99 billion by 2025 and will register a CAGR of 14.4% during the forecast period. Continuous development of energy-saving capabilities, introduction of Standard Deviation Color Matching (SDCM) control, and longer lifespan compared to CFL lamps have accelerated demand for LED lamps at a global level. Introduction of smart/connected lighting and its multiple uses in residential, commercial, and industrial sectors has also spurred market growth. Other highlights: The indoor LED lighting segment held the largest share in 2016 and is anticipated to register a comparatively lower growth rate from 2017 to 2025. OLED emerged as the largest product segment in 2016 and is estimated to generate revenue worth USD 58.0 billion by 2025