The global lighting market was valued at approximately USD 151.7 billion in 2024 and is forecasted to grow significantly, reaching an estimated USD 223.3 billion by 2030. This growth is expected to occur at a compound annual growth rate (CAGR) of 7.2% during the period from 2025 to 2030. The steady expansion of the market is largely fueled by a rising demand for energy-efficient lighting solutions, increasing urbanization worldwide, and advancements in smart lighting technologies.

Traditional lighting technologies, including incandescent and halogen bulbs, are gradually being replaced by LED lighting. LED technology currently holds a dominant position in the market because of its numerous advantages such as superior energy efficiency, longer operational lifespan, and overall cost-effectiveness. Additionally, stringent government policies and regulations focused on energy conservation and environmental sustainability are accelerating the adoption of LED lighting and smart lighting systems across various sectors, including residential, commercial, and industrial applications. The ongoing development of smart cities, expanding infrastructure projects, and the integration of Internet of Things (IoT) enabled lighting solutions are further transforming the industry landscape.

Smart lighting systems, which incorporate IoT, artificial intelligence (AI), and automation technologies, are revolutionizing the lighting market by offering enhanced features such as remote control, adaptive lighting, and energy optimization. These innovative systems enable users to conveniently adjust settings such as brightness, color temperature, and operation schedules through mobile applications or voice-controlled assistants, thus enhancing both convenience and energy efficiency. AI-powered automation further optimizes energy consumption by intelligently adjusting lighting based on factors like occupancy and natural daylight availability. Moreover, the rapid growth in commercial and residential construction, especially in urban regions, continues to boost the demand for modern and efficient lighting solutions. Smart lighting is increasingly becoming an integral component of smart homes, office buildings, and smart cities, contributing to greater energy savings, improved security, and enhanced user experience. These developments align closely with global efforts to promote sustainability and achieve energy efficiency targets on a broad scale.

Key Market Trends & Insights:

• In 2024, North America held a significant position in the global lighting industry, contributing to over 21% of the total revenue share. This underscores the region’s important role and strong market presence within the lighting sector during that year. Within North America, the United States lighting market, in particular, is anticipated to experience substantial growth throughout the forecast period from 2025 to 2030, driven by increasing adoption of advanced lighting technologies and growing demand across various sectors.

• When examining the market by type, the LED lighting segment dominated in 2024, accounting for more than 58% of the total revenue share. This dominance reflects the widespread shift towards LED technology due to its superior energy efficiency, durability, and cost benefits compared to traditional lighting options.

• Looking at the industry from an end-use perspective, the residential sector emerged as the leading contributor, capturing the largest revenue share of over 42% in 2024. This highlights the extensive use of lighting solutions in homes and residential buildings, driven by increasing consumer awareness about energy-efficient lighting and smart home integration.

• In terms of distribution channels, the offline segment accounted for the majority revenue share, exceeding 65% in 2024. This indicates that traditional brick-and-mortar retail outlets, including specialty lighting stores and large retail chains, remain the primary avenues through which consumers and businesses purchase lighting products, despite the growing presence of online channels.

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Market Size & Forecast:

• 2024 Market Size: USD 151.7 Billion

• 2030 Projected Market Size: USD 223.3 Billion

• CAGR (2025-2030): 7.2%

• Asia Pacific: Largest market in 2024

Key Companies & Market Share Insights:

The global lighting industry features several prominent key players, including well-established companies such as Acuity Brands, Inc., Signify Holding, OSRAM GmbH, Eaton Corporation, Cree Lighting, Nichia Corporation, GE Lighting, Seoul Semiconductor Co., Ltd., Everlight Electronics Co., Ltd., Hubbell Incorporated, Zumtobel Group, Siteco GmbH, Panasonic Holdings Corporation, Havells India Ltd, and Toshiba Lighting. These organizations are recognized for their significant contributions to innovation, production, and distribution within the lighting market worldwide.

To maintain and strengthen their positions in this highly competitive industry, these companies are actively engaging in a variety of strategic initiatives. These efforts include the development and launch of new, technologically advanced products aimed at meeting evolving customer demands and industry standards. Additionally, many of these companies are forming partnerships and collaborations with other businesses, technology providers, and research institutions to leverage shared expertise and resources. Such alliances enable them to accelerate innovation, expand their market reach, and enhance their product portfolios.

Furthermore, entering into agreements and contracts—whether for supply chain management, joint ventures, or distribution—is another key approach being employed to secure a competitive edge. Through these combined strategies, market players aim to differentiate themselves from rivals, strengthen their market presence, and capitalize on emerging opportunities in the global lighting industry.

Key Players

• Acuity Brands, Inc.

• Signify Holding

• OSRAM GmbH

• Eaton Corporation

• Cree Lighting

• Nichia Corporation

• GE Lighting

• Seoul Semiconductor Co., Ltd.

• Everlight Electronics Co., Ltd.

• Hubbell Incorporated

• Zumtobel Group

• Siteco GmbH

• Panasonic Holdings Corporation

• Havells India Ltd

• Toshiba Lighting.

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Conclusion:

The global lighting market is experiencing steady growth driven by increasing demand for energy-efficient and smart lighting solutions. Advances in technology, such as LED and IoT-enabled lighting, along with supportive government regulations, are accelerating market adoption across residential, commercial, and industrial sectors. The ongoing urbanization and infrastructure development further contribute to the rising demand. Overall, the market is expected to continue expanding as innovative lighting systems become more integral to modern buildings and smart city initiatives worldwide.