Dan’s Biz Bookshelf: ‘Elevate: Push Beyond Your Limits'
The Marketing Minute: The First Step to More Sales—Marketing
It’s Only Common Sense: Customer Service Is Sales in Disguise
Global Revenue from LED Lighting Systems Expected to Total $216B from 2015 to 2024
September 17, 2015 | Navigant ResearchEstimated reading time: 1 minute
A recent report from Navigant Research analyzes the global market for light-emitting diode (LED) lamps and modules across all major space lighting uses, including global market forecasts for unit sales and revenue of LED lamps and modules, through 2024.
LED prices have declined far enough that this type of lighting is now the economical choice for almost every setting and use, and heavy attention is being paid to the ongoing energy savings the technology offers. With payback periods now falling below two to four years, project decision makers from almost every application are being forced to consider LEDs for installations. According to a recent report from Navigant Research, global revenue from LED lamps and modules is expected to total $216 billion from 2015 to 2024.
“For commercial buildings, the shift to LEDs has been the most dramatic in retrofit projects where older bulbs are being replaced specifically to improve efficiency,” says Jesse Foote, senior research analyst with Navigant Research. “This change is happening at such a fast rate that LEDs are expected to knock inefficient technologies like incandescent and halogen bulbs out of the market by 2024.”
As more efficient lamp types have become available at lower price points, many countries have started to implement bans on outdated or inefficient technology, according to the report. While this has mostly taken place in North America and Europe to date, a number of Latin American and Asian countries have also started to introduce similar legislation that could drive more LED sales.
The report, LED Lighting: Global Outlook, analyzes the global market for LED lamps and modules across all major space lighting uses. The study provides an analysis of the market issues, including drivers and trends, barriers, cost issues, and technological developments, associated with LED lighting. Global market forecasts for unit sales and revenue of LED lamps and modules, segmented by region, equipment type, and end use, extend through 2024. The report also examines key codes and standards and regional influences related to LED lighting, as well as the competitive landscape. An Executive Summary of the report is available for free download on the Navigant Research website.
Share on:
Suggested Items
ViTrox’s HITS 5.0 Empowers Global Partners with Innovative Solutions and Stronger Bonds
07/16/2025 | ViTroxViTrox, strives to be the World’s Most Trusted Technology Company, proudly announces the successful conclusion of its fifth edition of High Impact Training for Sales (HITS 5.0), held from 23rd to 27th June 2025 at ViTrox Campus 2.0 and 3.0, located in Batu Kawan Industrial Park, Penang, Malaysia.
The Marketing Minute: The First Step to More Sales—Marketing
07/16/2025 | Brittany Martin -- Column: The Marketing MinuteIn today’s competitive B2B landscape, marketing is no longer just a support role; it’s the starting line. Before a PO is ever submitted, marketing has already laid the foundation for the sale. These days, buyers are more informed, selective, and self-guided than ever, and marketing is how they find, evaluate, and build trust in your company.
Infineon Advances on 300-millimeter GaN Manufacturing Roadmap as Leading Integrated Device Manufacturer (IDM)
07/10/2025 | InfineonAs the demand for gallium nitride (GaN) semiconductors continues to grow, Infineon Technologies AG is poised to capitalize on this trend and solidify its position as a leading Integrated Device Manufacturer (IDM) in the GaN market.
Webinar Review: A Global Trade and Economy in Flux
07/09/2025 | I-Connect007 Editorial TeamIn a July 8 webinar, Global Electronics Association Chief Economist Shawn DuBravac provided a comprehensive analysis of the evolving international trade environment, its implications for inflation, monetary policy, and labor dynamics, and a sober assessment of market valuations. In “Navigating a Shifting Landscape” DuBravac painted a picture of a global economy in flux, where shifting trade alliances and tariff structures are redrawing the supply chain map and influencing the broader economic landscape, while also conveying an overall bullish market outlook.
I-Connect007’s Editor’s Choice: Five Must-Reads for the Week
07/04/2025 | Marcy LaRont, I-Connect007For our industry, we have seen several bullish market announcements over the past few weeks, including one this week by IDC on the massive growth in the global server market. We’re also closely watching global trade and nearshoring. One good example of successful nearshoring is Rehm Thermal Systems, which celebrates its 10th anniversary in Mexico and the official opening of its new building in Guadalajara.