LED Lighting Market: Technological Advancement to boost
Global LED Lighting Market size was valued at USD 62.56 Bn. in 2023 and the total LED Lighting revenue is expected to grow by 9.5 % from 2024 to 2030, reaching nearly USD 118.09 Bn. LED Lighting Market Overview A light-emitting diode (LED) is a semiconductor device that produces visible light when an electrical current flows through it. Essentially, it functions as the reverse of a photovoltaic cell, which transforms visible light into electrical current. LEDs are energy efficient and consume significantly less power compared to incandescent and fluorescent bulbs, making them more energy-efficient.