LED Market Size to Grow by USD 96.82 bn

The LED market size is expected to grow by USD 96.82 bn from 2020 to 2025, according to Technavio. Moreover, the growth momentum of the market will accelerate at a CAGR of 13.10%.

The LED market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.

APAC will account for 50% of the market's growth during the forecast period. The increased demand for LED solutions from the residential and commercial segments will drive the LED market growth in APAC during the forecast period. Market growth in this region will be faster than the growth of the market in North America and MEA. China, Japan, and India are the key countries for the LED market in APAC.