Industrial & Commercial Led Lighting Market Will Reach $165.91 Billion By 2022: Grand View Research, Inc.
The global industrial and commercial LED lighting market is expected to reach USD 165.91 billion by 2022, according to a new report by Grand View Research, Inc. High efficiency of LED lights combined with government regulations to ban incandescent lamps is estimated to drive demand over the forecast period. Increasing shift towards the implementation of cost effective systems is expected to proliferate demand. Concepts such as smart lighting which offer several benefits including comfort, safety and security are projected to offer lucrative growth opportunities for the industry. For instance, prevalence of various smart city schemes across the U.S. and Europe to reduce consumption of energy and peak power demand is estimated to positively impact sales. North America industrial and commercial LED lighting market share, 2012 - 2022 (USD Million) Stringent government regulations and ban on incandescent lamps and set up of minimum efficiency standards by various...