LED lighting market size analysis 

It is well known that the global LED lighting market size is growing year by year. In 2023, the global LED lighting market size was US$81.48 billion, and the compound annual growth rate (CAGR) from 2023 to 2030 is expected to be 11.0%. Due to the requirements and restrictions on the use of energy-efficient lamps, construction in developing and developed countries is also increasing. 

Governments have passed laws to restrict the use of inefficient lighting systems and reduce the price of LED lighting, thereby better promoting market development.Compared with traditional lighting, LED lighting has a long life, no flicker, high lighting intensity, and lower energy consumption. In addition, LED manufacturers are focusing on features such as Wi-Fi, occupancy sensors, and daylighting, as these features can attract customers and increase product sales, thereby promoting market growth.

Smart Lighting Market Analysis 

The smart lighting market size was estimated at $19.65 billion in 2024 and is expected to reach $46.79 billion by 2029, growing at a CAGR of 18.94% during the forecast period (2024-2029).Many governments around the world are rapidly phasing out inefficient light sources through performance standards, labeling, and incentive programs. 

According to the U.S. Department of Energy, the widespread use of LED lighting is expected to have a huge impact on energy conservation in the United States. As a result, many lighting installations are expected to adopt LED technology, and by 2035, LED lighting can save 569 TWh of energy per year, equivalent to the annual power generation of approximately 92 1,000 MW power plants.

Sources：

LED Lighting Market Size, Share And Growth Report, 2030 (grandviewresearch.com)

Smart Lighting Market - Size, Trends & Share (mordorintelligence.com)