Wednesday, December 4, 2024

Growth of LED Lighting Market Fueled by Sustainable Solutions and Internet of Things Innovations

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Growth of LED Lighting Market Fueled by Sustainable Solutions and Internet of Things Innovations
The LED Lighting Market is projected to experience significant growth, with an expected compound annual growth rate (CAGR) of 11.50% from 2024 to 2030. This growth is forecasted to elevate the market value to over USD 195.11 billion by 2030, up from USD 73.25 billion in 2023. The evaluation highlights key trends affecting the market, including advancements in technology and strategic developments by major players like Cree, General Electric, and Philips. The report covers various market segments, such as LED lamps and fixtures, and categorizes users into industrial, commercial, and residential sectors. Furthermore, it delves into regional analyses and consumer behavior, providing stakeholders with vital insights for navigating this rapidly expanding market.
Original source:
https://www.openpr.com/news/3765640/led-lighting-market-driven-by-eco-friendly-solutions-and-iot

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