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efficient lamp types have become available at lower price points, many countries have started to implement bans on outdated or inefficient technology, according to the report.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

  • Dec 4, 2025 - Wow Lighting and Controls Announces New Partnership with Eterna Light

    Wow Lighting and Controls Announces New Partnership with Eterna Light

    Wow Lighting and Controls is excited to welcome Eterna Light to their lighting family! A Canadian manufacturer based in Côte Saint-Luc, Quebec, Eterna Light specializes in high-end architectural luminaires for commercial, hospitality, and retail projects. Their broad lineup includes downlights, cylinders, track lighting, and advanced backlighting solutions, all designed to bring flexibility, performance, and timeless… Read More…

  • Dec 3, 2025 - Magic Lite Announces the Promotion of Jennifer Penton to Chief Operating Officer

    Magic Lite Announces the Promotion of Jennifer Penton to Chief Operating Officer

    Magic Lite is proud to announce the promotion of Jennifer Penton to Chief Operating Officer (COO)! Jennifer brings a strong personal connection to Magic Lite. With a PhD in engineering and early experience working in the Magic Lite warehouse as a teenager, she has grown with the company from the ground up. Over the past… Read More…

Design

New Products

  • EB Horsman: Philips LED Lamps & TLED Tubes – Efficient Lighting Solutions for Any Space

    EB Horsman: Philips LED Lamps & TLED Tubes – Efficient Lighting Solutions for Any Space

    Looking to upgrade your lighting with high-efficiency LED solutions? Philips offers a wide range of LED lamps and TLED retrofit tubes that deliver energy savings, long life, and professional-grade illumination for commercial and residential projects. Philips LED lamps provide consistent brightness and excellent color rendering, making them ideal for offices, retail environments, warehouses, and homes.… Read More…

  • Omnilumen: Metalumen – Rail 2 Acoustic Direct/Indirect (RM2DU-ACL)

    Omnilumen: Metalumen – Rail 2 Acoustic Direct/Indirect (RM2DU-ACL)

    When designing lighting for a space, why not consider solving an often-overlooked issue in that space – noise. Metalumen’s Rail 2 Acoustic is now available with direct/indirect distribution, while quietly adding light to your environment with sound-dampening properties. The Rail 2 Acoustic RM2DU-ACL is constructed with ezoBord sound-absorbing baffles making it a 2-in-1 solution that… Read More…