LED Lighting Industry:I. Industry Status Quo and Market Size

1. Global Market Growth

In 2023, the global LED lighting market size reached 23.728 billion US dollars. It is expected to continue growing at a compound annual growth rate of 3.75% until 2030, mainly benefiting from the demand for energy conservation and technological advancements.

Chinese enterprises play an important role in the global market. For example, Unilumin Technology's smart display business revenue reached 7.19 billion yuan in 2023, ranking first in the world.

2. Expansion of Application Areas

LED lighting has covered residential, commercial, industrial, and urban lighting projects (such as the 8K naked-eye 3D screen of Nanjing Xinbai and the lighting of the Hong Kong-Zhuhai-Macao Bridge). It is gradually penetrating into smart homes and smart cities (such as the smart street lamps around the West Lake in Hangzhou).

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