Semiconductor and Electronic Survey

According to forecasts, the   LED Light Engine Market   is expected to develop at a robust 14.7% CAGR from 2019 to 2024, when it is expected to reach USD 59.5 billion from USD 30.0 billion in 2019. A new market research report lists numerous important aspects that are responsible for this industry rise. The market is divided into lights and luminaires according to product type in the report, and installations are classified as either new or retrofit. End-use applications cover lighting solutions for both indoor and outdoor environments. The anticipated growth indicates how LED technology is becoming more widely used in a variety of industries due to its advantages for the environment, energy efficiency, and longer lifespan. The market demand is also supported by government initiatives that promote energy-efficient lighting systems. Download PDF Brochure @  https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=16450611 There are multiple important elements driving the gr...

The   LED Light Engine Market   is estimated to be worth USD 30.0 billion in 2019 and USD 59.5 billion by 2024, rising at a CAGR of 14.7% throughout that period. Key factors influencing the market growth for LED light engines include the increasing demand for energy-efficient lighting systems, infrastructure development and modernization, such as smart cities, the availability of inexpensive LEDs, their introduction into general lighting, and the rapid advancement of LED technology relative to conventional lighting technology. Luminaires will see the market's greatest CAGR for LED light engines over the forecast period. Due to its importance as the foundation of an LED lighting system, the luminaire subsegment is anticipated to expand at the fastest rate. The market for LED lighting luminaires is anticipated to grow as consumer awareness of energy conservation and the installation of high-efficiency lighting systems rises. During the projected period, the market for retrofit i...