Global Revenue from LED Lighting Systems Expected to Total US$216 Billion from 2015 to 2024

LED Lighting Systems

A recent Navigant Research report 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.
“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more efficient lamp types have become available at lower price points, many countries have started to implement bans on outdated or inefficient technology, according to the report.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, 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.

Find out more: www.navigantresearch.com/research/led-lighting-global-outlook

 

Related Articles

Changing Scene

  • April 1, 2026 - GVA Lighting Promotes Oksana Kostylova to Director of Human Resources

    GVA Lighting Promotes Oksana Kostylova to Director of Human Resources

    GVA Lighting is pleased to announce the promotion of Oksana Kostylova to Director of Human Resources. Oksana joined GVA Lighting in June 2022 as an HR Generalist and was promoted to HR Manager later that year in recognition of her impact and leadership. Since joining GVA, she has strengthened core HR foundations, enhanced key people… Read More…

  • March 31, 2026 - SATCO Celebrates 60 Years of Excellence in Lighting, NUVO Marks 20 Years of Design Innovation 2

    SATCO Celebrates 60 Years of Excellence in Lighting, NUVO Marks 20 Years of Design Innovation

    SATCO proudly announces the celebration of its 60th anniversary, marking six decades of sustained growth, innovation, and service excellence. Concurrently, NUVO, a prominent lighting brand under the SATCO umbrella, celebrates its 20th anniversary, highlighting two decades of cutting-edge design and creative solutions for residential and commercial spaces. Founded in 1966, SATCO has consistently demonstrated a… Read More…

Design

  • Omnify: 7 Common Light Panel Mistakes (And How to Fix Them)

    Omnify: 7 Common Light Panel Mistakes (And How to Fix Them)

    You’ve invested in premium LED light guide panels for your retail display or commercial project. The specs looked perfect. The samples were gorgeous. But now? Something’s off. Maybe the lighting is uneven, or panels are starting to fail way before they should. Here’s the thing, most LED light guide panel problems aren’t manufacturing defects. They’re… Read More…

  • Legrand: The Benefits of DMX Lighting in Modern Commercial Spaces 

    Legrand: The Benefits of DMX Lighting in Modern Commercial Spaces 

    DMX lighting is a powerful control protocol originally developed for theaters and entertainment venues, but its reach has expanded far beyond the stage. Today, DMX is increasingly used in commercial, educational, healthcare, and architectural environments to create dynamic, color-rich, and adaptable lighting experiences. Where traditional lighting systems focus primarily on on/off and dimming control, DMX… Read More…

New Products

  • Magic Lite: 5CCT Gimbal Down Light (90° Tilt)

    Magic Lite: 5CCT Gimbal Down Light (90° Tilt)

    Magic Lite’s 5CCT Gimbal Down Light is a versatile solution to direct light into your life! An ideal directional lighting option for remodel and new construction, 5CCT LED Gimbal Down Lights are a versatile and affordable choice for countless applications. Read More…

  • Dals: New 12W 24V Compact Hardwire Driver – PLD2412DIM

    Dals: New 12W 24V Compact Hardwire Driver – PLD2412DIM

    Enjoy smooth, precise dimming with Dals Compact 24V Drivers. These new devices are 33% lighter and smaller than their DRXXX models, providing consistent performance and effortless adjustment of light output to match the time of day and the specific needs of your 24V low-voltage fixtures. Read More…