Key Drivers, Trends, and Growth in the U.S. LED Lighting Market

The U.S. LED lighting market is experiencing significant growth, driven by energy-efficiency initiatives, technological advancements, and supportive government regulations. The increasing adoption across residential, commercial, and industrial sectors is bolstered by declining LED prices and a rising emphasis on sustainability and smart infrastructure. Growth prospects are promising, with a projected CAGR exceeding 7% from 2024 to 2030. Key opportunities lie in smart lighting and connected infrastructure, while challenges include high initial costs and supply chain disruptions. Major players like Philips and GE are prominent in this moderately fragmented market, which is also witnessing innovation from startups.

Key Drivers, Trends, and Growth in the U.S. LED Lighting Market

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