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LED Lighting Market worth $118.4 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, Feb. 23, 2024 /PRNewswire/ — The global LED lighting market is projected to grow from USD 78.9 billion in 2024 to USD 118.4 billion by 2029, registering a CAGR of 8.5% during the forecast period according to a new report by MarketsandMarkets™. The LED lighting market is propelled by a combination of key drivers that have contributed to its widespread adoption globally. Energy efficiency stands out as a primary driver, with LED technology offering significant reductions in energy consumption compared to traditional lighting sources.

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Browse in-depth TOC on “LED Lighting Market” 

171 – Tables
67 – Figures
271 – Pages

LED Lighting Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 78.9 billion

Estimated Value by 2029

$ 118.4 billion

Growth Rate

Poised to grow at a CAGR of 8.5%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Product, Application, Installation, Sales Channel and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Lack of common open standards for LED lighting

Key Market Opportunities

Rising adoption of LED lighting in horticulture sector

Key Market Drivers

Favourable government initiatives and regulations for energy efficient LED lighting solutions across the world

 

Environmental sustainability is another crucial factor, as LEDs produce less carbon emissions and contain no hazardous materials. Technological advancements and decreasing production costs have made LED lighting more affordable, further stimulating market growth. Government initiatives and regulations promoting energy-efficient solutions, along with an increasing awareness among consumers regarding the long-term cost savings and environmental benefits of LEDs, play a pivotal role in driving market demand. Moreover, the versatility of LED technology, providing options for smart lighting solutions and diverse applications across residential, commercial, and industrial sectors, contributes to the overall expansion and dynamism of the LED lighting market.

Lamps segment to lead the product segment during the forecast period.

LED lamps are expected to have a higher market share in the LED lighting market due to several compelling reasons. The versatility of LED lamps makes them suitable for a wide range of applications, from residential to commercial and industrial settings, contributing to their widespread adoption. LED lamps offer a variety of form factors, including traditional shapes and innovative designs, providing consumers with diverse options to fit different lighting needs. Additionally, the ease of retrofitting existing fixtures with LED lamps enhances their market appeal, allowing for a seamless transition to energy-efficient lighting. The efficiency and longevity of LED technology, characterized by lower energy consumption and extended lifespans compared to traditional lamps, result in substantial cost savings for consumers over time, further driving the preference for LED lamps. Furthermore, the integration of smart lighting features and compatibility with home automation systems positions LED lamps as part of the growing trend toward connected and intelligent lighting solutions, consolidating their dominance in the market.

By Installation, new installation is likely to record the highest growth rate during the forecast period.

New installations exhibit a higher CAGR in the LED lighting market within the installation type segment. The burgeoning demand for energy-efficient lighting solutions, coupled with advancements in LED technology, drives a preference for new installations over retrofitting existing systems. As construction and urbanization projects surge globally, there is an inherent need for modern and sustainable lighting infrastructures, positioning new installations as a pivotal growth driver. Additionally, stringent energy efficiency regulations and environmental awareness prompt a proactive approach in integrating LED lighting during the construction phase, further propelling the CAGR for new installations.

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Asia Pacific is expected to account for the largest market share in the global LED lighting market by 2029.

The Asia-Pacific region is poised to have the largest share in the LED lighting industry due to a convergence of influential factors. Rapid urbanization, particularly in countries like China and India, has led to a surge in demand for efficient lighting solutions, driving the adoption of LED technology. Government initiatives across the region, emphasizing energy efficiency and environmental sustainability, play a pivotal role in promoting LED lighting. Additionally, the sheer size of the population in Asia Pacific countries contributes to the scale of market adoption. As the region experiences economic growth, there is an increased capacity for investment in modern infrastructure, further boosting the demand for LED lighting in new construction projects.

Key Players

Signify Holding (Netherlands), Acuity Brands, Inc. (US), Cree Lighting USA LLC (US), ams OSRAM AG (Germany), LG Electronics (South Korea), Dialight (UK), Panasonic Corporation (Japan), Hubbell (US), Savant Systems, Inc. (US), and Zumtobel Group (Germany) are the major companies in the LED lighting companies.

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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Addepar Raises $230 Million at $3.25 Billion Valuation in Series G Investment Round

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Vitruvian Partners and WestCap Co-Lead Round with Support from 8VC, Valor Equity Partners and EDBI

NEW YORK, May 13, 2025 /PRNewswire/ — Addepar, a leading global technology and data platform that investment professionals rely on to make the most informed, data-driven investment decisions, announced today the closing of its $230 million Series G investment round. The round was co-led by Vitruvian Partners, headquartered in London, and returning investor, New York-based WestCap, with additional participation from longtime partners 8VC and Valor Equity Partners. Global investor EDBI, operating under SG Growth Capital—the investment platform of the Singapore Economic Development Board (EDB) and Enterprise Singapore—also joined this round as a new investor.

Addepar’s clients use its platform to manage and advise on more than $7 trillion in client assets, up from $5 trillion just a year ago. The company adds more than $25 billion in new assets on average each week, and serves more than 1,200 client firms across more than 50 countries. Addepar is the platform of choice for single-family offices, RIAs, large banks, institutional asset owners and alternative fund managers. With hundreds of thousands of users worldwide, Addepar has become a leader in wealth and investment management technology and data, and delivers outsized value specifically in times of market volatility.

“This investment round reflects the deep trust our investors have in our mission, and the exceptional value we consistently deliver to our clients,” said Eric Poirier, Chief Executive Officer at Addepar. “Since day one, our focus has been on building a unified platform that equips investment professionals with advanced technology, precise data, and actionable insights—essential tools for achieving extraordinary outcomes in today’s rapidly evolving financial landscape. This funding aims to reward everyone who has contributed to our mission during our first 15 years, and reinforces our commitment to empowering the world’s leading firms with deep and lasting innovation. It ensures that our clients are empowered with the right technology, data and tools to navigate the full range of market conditions with confidence.”

Addepar continues to invest over $100 million annually in research and development and is on track to achieve profitability in 2025. The proceeds from its Series G financing will primarily be used to provide liquidity to employees and other investors through a tender offer, allowing them to realize the value of their contributions. In addition, it will further accelerate investments in innovation and client capabilities, enabling firms to differentiate themselves in an increasingly competitive market. Addepar continues to deliver exceptional client satisfaction and retention, strong revenue growth, and rapid product innovation at scale.

“Addepar has established itself as a category leader in investment technology with a strong track record of innovation and measurable global impact,” said Luuk Remmen, Partner at Vitruvian Partners. “We’re proud to bring more than capital to this partnership—offering strategic insight to help accelerate Addepar’s next phase of global growth and extend its transformative solutions to more investment professionals worldwide.”

“We’re proud to deepen our partnership with Addepar as they push the boundaries of innovation across the wealth management ecosystem, providing essential solutions for today’s investment managers,” said Jaime Hildreth, Partner at WestCap and Addepar board member. “We recognized Eric and the Addepar team’s vision from the outset and will continue to work alongside their team to build, scale, and pioneer the future of investment management.”

Born in response to the 2008 global financial crisis, Addepar has maintained an unwavering focus on empowering investment professionals with the best data, technology and insights. In doing so, it has set a new standard for the world’s leading wealth managers and investors.

“Addepar is building the global operating system for investment professionals—connecting data, insight, and action in one powerful platform,” said Joe Lonsdale, General Partner at 8VC and Addepar’s Co-founder and Chairman of the Board. “This milestone reflects the market’s belief in that vision and the strength of the team driving it. As Addepar expands its global reach, it’s redefining how capital is managed and decisions are made across the investment ecosystem.”

Today, amid significant market turbulence and economic uncertainty, Addepar is uniquely positioned to double down on innovation—expanding its platform to help clients navigate volatility, manage risk, and deliver differentiated value to their own clients with greater speed, accuracy, and insight. As the company continues to grow, it remains deeply committed to driving meaningful, long-term impact across global markets by empowering firms to act with greater clarity and confidence.

About Addepar
Addepar is a global technology and data company that helps investment professionals provide the most informed, precise guidance for their clients. Hundreds of thousands of users have entrusted Addepar to empower smarter investment decisions and better advice over the last decade. With client presence in more than 50 countries, Addepar’s platform aggregates portfolio, market and client data for more than $7 trillion in assets. Addepar’s open platform integrates with more than 100 software, data and services partners to deliver a complete solution for a wide range of firms and use cases. Addepar embraces a global flexible workforce model with offices in Silicon Valley, New York City, Salt Lake City, Chicago, London, Edinburgh, Pune and Dubai.

About Vitruvian Partners
Vitruvian Partners is a global growth-focused investor with offices across London, Stockholm, Munich, Madrid, Luxembourg, Mumbai, Singapore, Shanghai, Miami, and San Francisco. Vitruvian focuses on dynamic situations characterized by rapid growth and change across asset-light industries. Vitruvian has over $20 billion of active funds which have backed many global winners and leaders in their sectors, including Wise, Marqeta, CFC, Global-e, Darktrace, Just Eat, and Skyscanner. Further information can be found at www.vitruvianpartners.com

About WestCap
WestCap is a strategic operating and investing firm that partners with visionary leaders to build generational businesses. Our team is comprised of seasoned industry leaders and entrepreneurs who guide companies through the most pivotal stages of growth. Some of our notable investments include Airbnb, StubHub, Ipreo, Addepar, Hopper, iCapital, SIMON, and GoodLeap. The firm has offices in New York, San Francisco and London. For more information, please visit www.westcap.com.

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Antaisolar Showcases Full-Scenario PV Mounting Solutions at Intersolar Europe 2025, Secures 120MW Distribution Contract

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MUNICH, May 13, 2025 /PRNewswire/ — May 7-9, Antaisolar participated in Intersolar Europe 2025, presenting its distinctive brand identity and comprehensive photovoltaic (PV) mounting solutions tailored for the European market. The showcase included smart tracking systems, distributed rooftop solutions, carports, and ground-mounted structures.

As a key global PV market, Europe is projected to see demand reach a hundred-gigawatt scale in 2025. Different regions exhibit diverse requirements shaped by geography, industrial structures, and energy policies—ranging from large-scale ground-mounted power plants to commercial/industrial rooftops, and emerging applications in innovative scenarios. Antaisolar has keenly identified these nuances, developing specialized solutions such as the TAI-Space multi-rotation single-axis 1P independent tracking system for utility-scale projects, the MetaRoof series for rooftop installations, four-pillar PV carports, and integrated fence/balcony systems. Antaisolar highlighted its next-generation solar roof designing platform – SolarAid, dedicated to simplifying the design and quoting process of rooftop PV projects for both end-users and distributors.

The company’s ability to deliver market-specific solutions stems from its robust localized support framework. Anchored by its R&D center in Spain and subsidiary in the Netherlands, Antaisolar provides localized design services, rapid delivery, and comprehensive operation/maintenance support—ensuring products align seamlessly with regional regulatory requirements, climatic conditions, and market expectations across Europe.

During Intersolar Europe 2025, Antaisolar further strengthened its European footprint by signing a 120MW distribution agreement with French distributor Sunliberty, underscoring Antaisolar’s growing influence in the region. With Europe’s energy transition accelerating, the PV market’s potential is set to expand further. Antaisolar is poised to leverage its all scenario mounting solutions and SolarAid intelligent system to offer European customers more efficient, reliable, and cost-effective choices, driving the continent’s shift toward sustainable energy.

About Antaisolar:

Antaisolar, expert in digital intelligent PV mounting system solutions, is a pioneer in renewable energy solutions specializing in structure and automation control. It ranks among the top 500 global new energy companies and is one of the top ten tracking system brands worldwide.As of 2024, the company’s cumulative global shipment has reached 41.7GW, with leading positions in markets such as Japan, Australia, and Southeast Asia.

Learn More: antaisolar.com

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Oracle and Entanglement Partner to Deliver Advanced Security to Governments and Enterprises

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AUSTIN, Texas, May 13, 2025 /PRNewswire/ — Oracle and seQure, an Entanglement company and Oracle partner, today announced that governments and enterprises can deploy Ground-Truth on Oracle Cloud Infrastructure (OCI). Ground-Truth is a cybersecurity and data observability service that helps automate the detection of threats and vulnerabilities and can reduce event alerts by 90 percent. Previously only available on-premises, Ground-Truth is now available across Oracle’s distributed cloud including public, government, sovereign, and dedicated regions.

By joining Oracle’s defense ecosystem, seQure can empower customers to deploy advanced, AI-driven threat detection while addressing data residency requirements. This helps customers maintain operational agility in complex environments, address regulatory, security, and performance requirements, and get the full benefits of the cloud and sovereign AI.

Reducing false alarms with greater speed and accuracy
Ground-Truth is a zero-trust enterprise continuous monitoring platform that can deliver higher speed, accuracy, and scalability for detecting unknown cyber threats and anomalies. It leverages quantum-inspired algorithms, AI, machine learning, and high-performance computing to deliver real-time threat detection and anomaly identification. This helps customers reduce operational costs and false positives compared to traditional rule-based methods.

“Deploying Ground-Truth on OCI enables seQure to scale and bring its advanced threat detection capabilities to even more governments and enterprises,” said Rand Waldron, vice president, Oracle. “This partnership helps our combined customers identify unknown cyber threats and anomalies faster and more accurately. In addition, it enables customers to benefit from OCI’s built-in security, leading performance, and flexibility.”

Deploying Ground-Truth on OCI enables customers to gain access to:

Automated detection of novel threats and vulnerabilities in under one second.AI-powered operations without rules, leveraging diverse models.Streamlined API-driven integration with existing security stacks spanning corporate networks, Internet of Things, supervisory control and data acquisition, and other operational technology environments.Continuous adaptation to evolving environments through unsupervised learning techniques.High-capacity data processing (up to 20TB of data per day) with speeds up to 1000x faster.Ultra-low false positive rates (<9.9 percent for corporate networks, <3 percent for IoT/SCADA/OT systems).

“Ground-Truth’s AI provides fidelity in threat detection with minimal false positives for both Network and Cyber Security applications,” said Jason Turner, chairman and CEO, Entanglement. “OCI’s high-performance infrastructure and scaling was essential for deploying this solution and enabling us to provide our customers with the benefits of automated scaling, robust security features, and predictable pricing.”

About Oracle’s Partner Program
Oracle’s partner program helps Oracle, and its partners drive joint customer success and business momentum. The newly enhanced program provides partners with choice and flexibility, offering several program pathways and a robust range of foundational benefits spanning training and enablement, go-to-market collaboration, technical accelerators, and success support. To learn more, visit https://www.oracle.com/partner/.

About Entanglement
Entanglement is a next generation computing and AI company powered by a team of world-renowned scientists, researchers, mathematicians, and engineers. By fusing quantum-inspired algorithms, combinatorial optimization, machine learning, AGI, and advanced computing platforms, the company delivers secure, high- performance solutions with unrivaled speed, accuracy, and scalability. For more information, visit www.entanglement.ai

About Oracle
Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.

Trademarks
Oracle, Java, MySQL and NetSuite are registered trademarks of Oracle Corporation. NetSuite was the first cloud company—ushering in the new era of cloud computing.  

 

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