Visible LEDs market is anticipated to grow at a considerable CAGR of 13.2% during the forecast period. The visible radiation refers to the wavelength range between 400 nm and 800 nm, which can be perceived by the human eye. The growing demand for LED lights in several applications, such as industrial, and commercial is propelling the market growth. The visible light-emitting diode driver has become an important part of commercial and industrial lights and has helped in the reduction of electricity costs considerably. For instance, in February 2023, Signify Holdings introduced a range of new solutions for the retail industry, including the Philips StoreFlow retail lighting system, Interact Retail hybrid lighting controls, and a collection of luminaires crafted from recycled materials.
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Visible LEDs, due to their numerous advantages are expected to become the dominant indoor lighting technology. Because of various benefits, it can also be switched ON/OFF at high frequency, enabling their additional use for wireless and indoor positioning. The use of Visible LEDs propels the demand for Visible LEDs in this segment. Apart from houses, office spaces are also becoming one of the common LED lighting applications. In today’s business world, owners and managers are placing more emphasis on the overall well-being of their employees. By switching to LED lighting, offices can provide bright light for their employees. This helps them see better and experience less eye fatigue. The color of the light can help brighten moods and comfort. This is the result of an increase in the demand for high-intensity discharge and fluorescent bulb substitutes from supermarkets, shopping malls, and retail establishments. LED lighting generates less heat, and costs less than conventional lighting options. The segment’s growth is also predicted to be aided by rising demand in public institutions like hospitals and schools.
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- Market Coverage
- Market number available for – 2024-2031
- Base year- 2024
- Forecast period- 2024-2031
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Market Segmentation
Global Visible LEDs (Light-Emitting Diodes) Market by Technology Type
- AlInGaN
- AlInGaP
- AlGaAs
Global Visible LEDs (Light-Emitting Diodes) Market by Application
- Indoor
- Outdoor
Global Visible LEDs (Light-Emitting Diodes) Market by End Users
- Commercial
- Residential
- Industrial
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Firefly Wireless Networks LLC
- Lucibel SA
- co
- Lumileds Holding B.V.
- Nichia Corporation
- OSRAM International GmbH
- Renesola
- Samsung Electronics Co., Ltd.
- Seoul Semiconductor Co. Ltd.
- Sharp Corp.
- Signify Holding
- Ushio Europe b.v.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global visible LED market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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