The global LED light engine market to reach $91.27 Billion by 2030

The growth of LED technology over conventional lighting technology as well as rise in penetration of LEDs as light sources in general lighting is projected to drive the growth of the market during the forecast period.

The integration of wireless technology in LED lighting systems and emergence of innovative LED light engine products are projected to create also lucrative growth opportunities for the market.

The LED light engine (LLE) is an integrated assembly which is composed of one or more LED arrays (modules) or light emitting diodes (LEDs) as well as an LED driver along with the other optical, mechanical, thermal, and electrical components.

Factors such as rapid urbanization coupled with infrastructural development; reduction in LED prices; and emergence of initiatives governing bodies toward the adoption of the energy-efficient lighting system mainly drive the growth of the market. For instance, on going smart cities initiatives around the globe has encouraged the implementation of lighting systems, which are based on IoT.