Lighting Market Size and Share Outlook - Forecast Trends and Growth Analysis Report (2025-2034)

The global lighting market size reached around USD 128.76 Billion in 2024. The market is projected to grow at a CAGR of 7.30 % between 2025 and 2034 to reach nearly USD 260.48 Billion by 2034.

Lighting, also referred to as illumination, is the deliberate use or arrangement of lights in a room, shopping complex, street, and other places to achieve practical or aesthetic effects. The different types of artificial light sources, including lamps and light fixtures, among others, are widely available in the market.

The global lighting market is being driven by the growing demand for lighting solutions from different end-use sectors and the rising consumer awareness regarding the sustainable use of resources. The market has witnessed a robust evolution and the transformation from incandescent to light-emitting diodes (LED).

Key Trends and Developments

Increasing development of smart lighting solutions; the rising demand for eco-friendly products; the development of human-centric lights; and the rising prevalence of lighting as a service are positively impacting the lighting market growth

Dec 12th 2023

Focus Lighting & Fixtures Ltd., Launched 'Optical', a unique outdoor LED technology, poised to transform the outdoor lighting after a year of development.

Aug 10th 2023

Magna, Expanded Querétaro, Mexico lighting division with a $17 million investment, adding 165,000 sq ft and creating 280 jobs over four years after new automaker awards.

Jun 27th 2023

Kyoto Semiconductor, Introduced 14 SWIR reflective sensors in the KPR series, targeting medical, analysis, and office applications, utilising InGaAsP LEDs and InGaAs photodiodes.

May 26th 2023

Barava LLC, Unveiled the LED hanging Barava light, blending retro nostalgia with modern features, revolutionising traditional fixtures by merging design with advanced technology.

High adoption of smart lighting with IoT integration

The adoption of smart lighting systems, integrated with IoT devices for energy efficiency, convenience, and customisation is significantly increasing to drive home automation and intelligent building management solutions.

Inclination towards sustainability and eco-friendly products

There is a shift towards sustainable, eco-friendly lighting solutions, including LEDs and materials with lower environmental impact, driven by consumer demand and regulatory standards for energy efficiency.

The growing demand for human-centric lighting

Human-centric lighting designs that mimic natural light are gaining popularity as they improve well-being and productivity by aligning with human circadian rhythms, especially in workplaces and healthcare facilities.

The trend of lighting as a service (LaaS)

There is a rising emergence of LaaS models, offering lighting solutions through subscription or service contracts, reducing upfront costs for consumers and businesses while promoting energy-efficient lighting upgrades.

Global Lighting Market Trends

LEDs have become the most popular lighting technology as they reduce energy consumption, come with better life expectancy, and are affordable in nature as compared to traditional lighting technologies. Moreover, they do not harm the environment like fluorescent or incandescent lamps.

The lighting market growth is estimated to be higher in the developing regions owing to the increasing awareness and rising access to the product. Due to favourable government policies like the use of LEDs for streetlighting, there has been an increase in the sale of the product. The growing R&D activities to innovate enhanced lighting technologies are expected to propel the market growth in the forecast period.

Lighting Industry Segmentation

“Global Lighting Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Breakup by Type

• LED
• Fluorescent
• Incandescent
• Halogen

Breakup by Product

• Bulbs
• Streetlights
• Downlights
• Tube Lights
• Flood Lights
• Others

Breakup by Distribution Channel

• Indoor
• Outdoor

Breakup by Application

• Residential
• Commercial
• Industrial
• Agricultural
• Hospital
• Others

Breakup by End-Use

• Supermarkets and Hypermarkets
• Convenience Stores
• Specialty Stores
• Online
• Others

Breakup by Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Global Lighting Share

LEDs are anticipated to dominate the global lighting market share in the coming years

LEDs (Light Emitting Diodes) have taken over other types of lights owing to their long lifespan, energy efficiency, and colour variety. They have become the preferred choice for both residential and commercial applications.

Meanwhile, halogens are expected to account for a major portion of the global lighting market share in the coming years owing their extensive utilisation in automobiles. These types of incandescent lighting solutions have a longer lifespan. They are often used in specific applications where high light quality is important, such as in car headlights and some types of studio lighting.

The rapid growth of e-commerce is expected to aid the expansion of the market in the coming years

For lighting solutions, speciality stores are likely to account for a major portion of the lighting market due to the availability of a wide variety of products. They also provide expert advice and customer service.

However, online sales platforms are expected to witness a rapid growth during the forecast period owing to their convenience and the ability to view customer reviews. Online platforms also facilitate easy comparison of features and prices, and the rise of direct-to-consumer brands in the lighting sector has further boosted online sales.

Competitive Landscape

Major players in the lighting market are increasingly investing in the development of smart lighting solutions

Signify Holding

Signify Holding was founded in 2016 and is headquartered in Eindhoven, the Netherlands. Lighting for professionals, consumers, and the Internet of Things.

OSRAM GmbH

OSRAM GmbH was founded in 1919 and is headquartered in Munich, Germany. Lighting technologies for automotive, smart, and industrial applications.

Eaton Corporation

Eaton Corporation was founded in 1911 and is headquartered in Dublin, Ireland. Power management technologies and services.

Cree Lighting

Cree Lighting was founded in 1987 and is headquartered in North Carolina, USA. LED lighting innovations for commercial, residential, and industrial markets.

Other key players in the global market are Nichia Corporation, GE Lighting, Seoul Semiconductor Co., Ltd., Everlight Electronics Co., Ltd., Hubbell Incorporated, Zumtobel Group, Siteco GmbH, Panasonic Holdings Corporation, and Havells India Ltd., among others.

Major companies in the market are investing heavily in research and development (R&D) to introduce innovative products, such as smart lighting solutions, LED technologies, and lighting systems that can be integrated with the Internet of Things (IoT). These innovations cater to the growing demand for energy-efficient, intelligent lighting solutions in both residential and commercial sectors.

Global Lighting Industry Analysis by Region

The Asia-Pacific is experiencing rapid urbanisation, industrialisation, and economic development, which provides substantial opportunities for the lighting market expansion. Countries like China and India are leading this expansion, driven by their massive population bases, growing middle classes, and increasing investments in infrastructure development. This growth is not only in residential and commercial lighting but also in industrial and public infrastructure projects, which require advanced lighting solutions.

The Middle East and Africa lighting market is also witnessing growth, fuelled by infrastructure investments, a rising population, and increasing number of mega-events. The Middle East is hosting significant international events, such as World Expos and sports tournaments, necessitating extensive infrastructure development, including state-of-the-art lighting systems.

Meanwhile, Europe and North America are increasingly focusing on technological advancements while following the regulatory environment for sustainability.