The global lighting market size was valued at USD 55.5 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 10.5% from 2022 to 2030. Increasing construction activities in developed and developing countries, along with stringent government regulations to lower the adoption of inefficient lighting technologies, are the major factors expected to drive the market. LED lights offer high lumen power by consuming less power, better service life, and no flickering.

Read More: Subscription Box Market Size , Crayfish Market Share , Blood Bank Market , Personal Finance Software Market Size , Silicone Oil Market Size