LED Lighting Market, Share, Size, Global Forecast 2022-2027
Global LED Lighting Market will reach US$ 97.2 Billion by 2027. The light-emitting diode (LED) is today's large energy-efficient and rapidly-developing lighting technology. LED lighting products deliver light up to 90% more efficiently than incandescent light bulbs. About 95% of the energy in LEDs is transformed into light, and only 5% is extinguished as heat, which leads buyers to opt for a better efficient form of lighting. Likewise, LED offers design flexibility, long lifespan, durability, energy efficiency, low-voltage operation, economic efficiency, zero UV emissions, etc. Its light supplies a lifetime of nearly 50,000 hours of illumination and works virtually by using only a fraction of the power utilized by CFLs and traditional bulbs.
