North America Indoor Light-Emitting Diode (LED) Lighting Market, By Offering (Hardware, Software, Services), Product Type (Lamps, Luminaires), Installation Type (New Installation, Retrofit Installation), Wattage Type (Less Than 50 W, 50 W-150 W, More Than 150 W), Application (Commercial, Residential, Automotive) – Industry Trends and Forecast to 2030.
North America Indoor Light-Emitting Diode (LED) Lighting Market Analysis and Size
This LED lighting market includes a wide range of LED lighting products designed for various indoor settings, such as residential, commercial, industrial, institutional, and other indoor spaces. Offering” segment is dominating the North America indoor light-emitting diode (LED) lighting market depending on various factors such as industry requirements, technological advancements, and customer preferences.
Data Bridge Market Research analyses that the North America indoor light-emitting diode (LED) lighting market which was USD 6.90 billion in 2022, is expected to reach USD 12.01 billion by 2030, and is expected to undergo a CAGR of 10.23% during the forecast period of 2023 to 2030. “In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
North America Indoor Light-Emitting Diode (LED) Lighting Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Offering (Hardware, Software, Services), Product Type (Lamps, Luminaires), Installation Type (New Installation, Retrofit Installation), Wattage Type (Less Than 50 W, 50 W-150 W, More Than 150 W), Application (Commercial, Residential, Automotive)
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Countries Covered
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U.S., Canada and Mexico in North America
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Market Players Covered
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Cree Inc. (U.S.), Daylight PLC (U.K.), US LED Limited (U.S.), Osram Licht Group (Germany), Acuity Brands Inc. (U.S.), Hubbel Brands Inc.(U.S.), Signify Holding (Philips Lighting and Cooper Lighting)( Netherlands), Technical Consumer Products Inc.(U.S.)
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Market Opportunities
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Market Definition
The Indoor Light-Emitting Diode (LED) Lighting refers to the economic ecosystem encompassing the production, distribution, and consumption of light-emitting diode (LED) lighting solutions designed specifically for indoor applications. A Light-Emitting Diode (LED) lighting refers to a type of lighting technology that utilizes light-emitting diodes to produce light. LEDs are semiconductor devices that emit light when an electric current passes through them. Unlike traditional incandescent or fluorescent lights, which rely on heating a filament or gas to produce light, LEDs generate light through a process called electroluminescence.
North America Indoor Light-Emitting Diode (LED) Lighting Market
Drivers
- Cost Efficiency
The cost-effectiveness of LED lighting, attributed to its declining prices and substantial energy savings, is a major driver for adoption in indoor spaces.
- Smart Lighting Trend
The integration of LEDs with smart technology is pushing the market forward, allowing personalized control, remote operation, and automated lighting adjustments.
- Health and Well-being
Increasing recognition of LEDs positive impact on human health, such as reduced eye strain and better circadian rhythm regulation, is contributing to market expansion.
Opportunity
- Rapid Adoption of Energy-Efficient Lighting Solutions
The North America indoor light-emitting LED lighting market is experiencing significant growth due to the widespread adoption of energy-efficient lighting solutions. LED technology offers longer lifespan, reduced energy consumption, and enhanced control options, making it an attractive choice for residential, commercial, and industrial applications. This trend is driven by increased environmental awareness, energy-saving initiatives, and government regulations promoting sustainable lighting solutions.
Restraints/Challenges
- High initial cost
LED lights are more expensive than traditional lighting options, such as incandescent and fluorescent lights. This can be a major barrier to adoption, especially for businesses and organizations with tight budgets.
- Lack of awareness
Many people are not aware of the benefits of LED lighting, such as their energy efficiency and long lifespan. This lack of awareness can also slow down the adoption of LED lights.
This North America indoor light-emitting diode (LED) lighting market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the North America indoor light-emitting diode (LED) lighting contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In May 2022, EarthTronics, which develops energy-saving lighting products that provide a positive economic and environmental impact, introduced its Color & Wattage Selectable LED Strip Series. The LED strip series is meant for high-bay and general lighting found in manufacturing, as well as retail and new commercial facilities
- In September 2021, Sollum Technologies announced its latest fixture for its 100% programmable smart LED lighting solution. The advanced fixture, known as the SF05A, constitutes a clear and considerable advance for Sollum and horticultural lighting technology. Greenhouse growers benefit from improved fixture functionality for controllable and automated light system monitoring
North America Indoor Light-Emitting Diode (LED) Lighting Market Scope
The North America indoor light-emitting diode (LED) lighting market is segmented on the basis of offering, product type, installation type, wattage type and application. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Offering
- Hardware
- Software
- Services
Product Type
- Lamps
- Luminaires
Installation Type
- New Installation
- Retrofit Installation
Wattage Type
- Less Than 50 W
- 50 W-150 W
- More Than 150 W
Application
- Commercial
- Residential
- Automotive
North America Indoor Light-Emitting Diode (LED) Lighting Market Regional Analysis/Insights
The North America indoor light-emitting diode (LED) lighting market is analysed and market size insights and trends are provided by country, offering, product type, installation type, wattage type and application as referenced above.
The countries covered in the market report are U.S., Canada and Mexico
U.S. dominates the North America indoor light-emitting diode (LED) lighting market because U.S. has a strong reputation for technological innovation and advancement. American companies often invest heavily in research and development, leading to the creation of cutting-edge light-emitting diode (LED) lighting technologies. These advancements can give them a competitive edge in the market. This combination of factors positions the U.S. as a dominant player in the North America indoor light-emitting diode (LED) lighting market.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of North America brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and North America Indoor Light-Emitting Diode (LED) Lighting Market Share Analysis
The North America indoor light-emitting diode (LED) lighting market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, North America presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to North America indoor light-emitting diode (LED) lighting market.
Some of the major players operating in the North America indoor light-emitting diode (LED) lighting market are:
- Cree Inc. (U.S.)
- Daylight PLC (U.K.)
- US LED Limited (U.S.)
- Osram Licht Group (Germany)
- Acuity Brands Inc. (U.S.)
- Hubbel Brands Inc.(U.S.)
- Signify Holding (Philips Lighting and Cooper Lighting) ( Netherlands)
- Technical Consumer Products Inc.(U.S.)
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