TrendForce: Global LED Lighting Market Value Likely to Increase 4% To USD 60.9 Billion in 2024

According to TrendForce’s latest market research report "TrendForce 2024 Global LED Lighting Market Analysis-1H24", the lighting market demand in 2023 did not experience the expected rebound due to numerous factors. TrendForce once again revised down the LED lighting market value for 2023 to USD 58.5 billion (-5% YoY). In 2024, about 5.788 billion LED lamps and luminaires will reach their service life limits and be phased out, leading to a considerable demand for second-time replacements. This is expected to reverse the declining trend in the LED...

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