Lamps Market Expected to Grow to USD 23.83 Billion

Posted in

January 17, 2025

Lamps Market Expected to Grow to USD 23.83 Billion

The global lamps market is poised for significant growth, projected to rise from USD 15.76 billion in 2025 to USD 23.83 billion by 2033, primarily driven by a shift towards energy-efficient lighting solutions like LEDs in response to stringent government regulations. As sustainability takes precedence, the industry is moving away from traditional incandescent and fluorescent lamps, with increasing consumer demand for smart lighting systems that enhance convenience and energy savings. North America is expected to remain the leading market, bolstered by initiatives promoting LED adoption and the presence of major lighting manufacturers. Recent advancements such as IoT integration and AI-powered systems further amplify opportunities for innovation in the sector, while public sector applications like smart street lighting align with global smart city initiatives.

Original source:

https://www.globenewswire.com/news-release/2025/01/17/3011210/0/en/Lamps-Market-Size-is-Projected-to-Reach-USD-23-83-billion-by-2033-Growing-at-a-CAGR-of-5-3-Straits-Research.html

Lamps Market Expected to Grow to USD 23.83 Billion

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