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LED Module Market Trends

  • Report ID: GMI12415
  • Published Date: Nov 2024
  • Report Format: PDF

LED module Market Trends

The LED module industry is prominently driven by the rise of smart lighting systems. With the expansion of the Internet of Things (IoT), there's a surging demand for LED modules that seamlessly connect to smart grids and can be wirelessly controlled. These advanced modules not only optimize energy efficiency but also enhance user convenience by dynamically adjusting lighting based on real-time factors like daylight levels or occupancy. The swift adoption of voice-controlled and sensor-based lighting in homes and offices further fuels the demand for these connected LED modules. Given the growing preference for energy-efficient, customizable, and technology-driven lighting solutions, this trend shows no signs of slowing down.
 

Another significant trend is the increased adoption of LED modules in the automotive sector. Automakers are embracing LED technology for both exterior and interior vehicle lighting due to its long lifespan, low energy consumption, and superior brightness. Advanced LED modules are now used in headlights, taillights, ambient lighting, and digital displays, offering better energy efficiency and aesthetic appeal. The growth of electric vehicles (EVs) has further fueled this trend, as EV manufacturers require efficient lighting solutions to conserve battery power. Moreover, the demand for LED modules is expanding beyond passenger vehicles to other areas of transportation, including aviation, marine, and railways, where energy efficiency and reliability are paramount.
 

LED modules are increasingly being adopted across industrial and commercial applications due to their durability, energy savings, and high light output. Factories, warehouses, and large retail environments are turning into LEDs to meet the growing demand for sustainable and cost-efficient lighting solutions. These modules are being used in smart factories to provide intelligent lighting that adapts to production needs, reduces energy consumption, and improves worker safety through consistent, high-quality illumination. In commercial sectors like hospitality and retail, LED modules are being used to create visually appealing environments, such as dynamic lighting in hotels or energy-efficient displays in retail stores. As industries continue to pursue energy conservation goals and green certifications, the use of LED modules is expected to increase, further driving market growth.

Authors: Suraj Gujar , Saptadeep Das

Frequently Asked Questions (FAQ) :

The global market size for LED module was valued at USD 5.7 billion in 2023 and is expected to reach USD 8.9 billion by 2032, driven by a CAGR of 5.2% from 2024 to 2032.

Single-color LED modules are expected to register a CAGR of 5.3% during the forecast period, driven by their widespread use in signage, display boards, and architectural lighting.

The U.S. market accounted for a 77.86% share of the North American market in 2023, driven by government incentives, environmental regulations, and technological advancements.

Major players in the industry include Acuity Brands Lighting, Inc., Advanced Lighting Technologies, Bridgelux, Inc., Cree, Inc., Epistar Corporation, Everlight Electronics Co., Ltd., GE Lighting, and Genesis Photonics Inc.

LED Module Market Scope

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Premium Report Details

  • Base Year: 2024
  • Companies covered: 25
  • Tables & Figures: 240
  • Countries covered: 18
  • Pages: 210
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