Leading Companies in the Global Lighting Market, Driven by Increasing Development of Smart Lighting Solutions

Signify Holding, OSRAM GmbH, Eaton Corporation, Cree Lighting, Nichia Corporation, GE Lighting, Seoul Semiconductor Co., Ltd., Everlight Electronics Co., Ltd., Hubbell Incorporated, Zumtobel Group, Siteco GmbH, Panasonic Holdings Corporation, Havells India Ltd., among others, are the major players in the global lighting market.

The global lighting market size reached a value of about USD 128.76 billion in 2023. The market is projected to grow at a CAGR of 7.3% in the forecast period of 2024-2032 to reach a value of approximately USD 242.71 billion by 2032. As per the analysis by Expert Market Research, the market is expected to be driven by the growing demand for lighting solutions from different end-use sectors.

The increased consumer awareness of sustainable resource use and the increased demand for lighting solutions from various end-use sectors are driving the global market for lighting. Also, the rising construction in both developed and emerging nations, laws and regulations prohibiting the use of inefficient lighting systems, and government programs supporting the reduction of LED lighting costs is increasing the demand for LED lights in the market.

Currently, a lot of research and development activities is being done to increase the semiconductor materials' efficiency, which is crucial for the manufacturing of LEDs. Additionally, improvements in color temperature management and the Color Rendering Index have led to inventions focused on improving color accuracy. These developments have been addressing different lighting needs across a range of applications.

Due to significant developments in Internet-of-Things (IoT), human-centric LED lighting, Light Fidelity (Li-Fi), and Light Detection and Ranging (LiDAR) systems, among other areas, the lighting market is widely recognised for its high degree of innovation. Smart LED lighting is growing because of the increasing use of network connectivity in LED lighting, which makes it possible to gather and analyze data and use that knowledge to manage light patterns and energy consumption.

Technological advancements are contributing to lighting market share. For instance, introduction of Li-Fi called Light Fidelity, is a type of wireless communication method which employs visible light to send data by handling LEDs at fast rates, utilizing near UV spectrum. This is also coming as a substitute to conventional Wi-Fi. This technology has also led to reducing network delays and low latency, making it appropriate for applications which require real-time communication like gaming or video conferencing.

In 2024, Nichia which is the leading manufacturer of LEDs globally, unveiled their latest venture, the Nichia Automotive Innovation Center located in Aachen, Germany. This move was to signify Nichia's dedication to revolutionize automotive lighting design and capabilities. This center will be aimed to pioneer cutting-edge lighting solutions also focusing on areas like visual comfort, road safety, and energy efficiency.

Top 10 Lighting Companies Globally:

Signify Holding

Signify is one of the global frontrunner companies in lighting, which delivers top-notch products, services, and systems to both consumers and professional clients. They offer advanced connected lighting solutions which illuminates as well as gather data, which help in enhancing devices, user interactions, and spaces. They are known for reshaping the role of light and their application. Their product portfolio includes Philips products which is helping in improving daily life in homes, public areas, and workplaces.

OSRAM GmbH

OSRAM is known for leading the way in innovative light and sensor solutions. They have over a century of industry experience, in which they blend exceptional engineering and manufacturing with a passion for advancements. They are dedicated towards advancing illumination, sensing technologies, and visualization which has garnered global customer trust. Their unique portfolio includes advanced light and sensor technologies which features top-tier semiconductor-based light emitters, software, CMOS ICs, and a variety of traditional lighting technologies for automotive and customized issues.

Eaton Corporation

Eaton is an intelligent power management company, which is focused on enhancing quality of life and protecting the environment globally. They are always seen leveraging global trends of digitalization and electrification. They are expediting the transition to renewable energy and are also addressing the most pressing power management challenges. Their systems are employed in many fields like airplanes, hospitals, factories, data centers, the electrical grid, and vehicles.

Cree Lighting

Cree lighting is known as a pioneering force in LED lighting. They are consistently leading the industry several firsts like introduction of LED lighting to the mainstream, surpassing the 300 LPW threshold, achieving warm white light without compromise, and launching an intelligent lighting platform with integrated sensors. They offer advanced LED solutions which cater to a wide range of applications.

GE Lighting

GE Lighting from many years have been pioneer in lighting innovation. Now, they are a part of the Savant family. They are known for delivering outstanding home automation experiences. GE Lighting is always exploring new ways for lighting which enhance life, like creating stunning indoor gardens, integrating wireless sound throughout the home. The company produces smart bulbs, light strips, and bendable neon lights that delivers vibe enhancing features like light shows, music sync, and 4 color displays.

Nichia Corporation

Nichia has established itself in the manufacturing, and sales of fine chemicals, particularly focusing on inorganic luminescent materials. They are determined in pursuit of light-emitting materials and brighter luminescent led to a breakthrough when they developed super high brightness Blue LED which had a significant impact globally. They also introduced world's first white LED through the combination of yellow phosphor and blue LED. Their creations have revolutionized light source technology across various sectors.

Seoul Semiconductor Co., Ltd.

Seoul Semiconductor is one of the leading developers which provides LEDs across various sectors including automotive, specialty illumination, general lighting, and backlighting. They are renowned as the third-largest LED manufacturer globally. The company has an extensive portfolio with over 18,000 patents and offering a diverse range of cutting-edge LED technologies. Some of their innovations include SunLike LEDs, Wicop LEDs, among others.

Everlight Electronics Co., Ltd

Everlight Electronics is known for over four decades of research and development expertise which have ensured reliable performance. They offer swift service and have a strong brand reputation. Everlight is one of the top players in the global LED market. They have their in-house manufacturing and packaging which guarantee exceptional quality and service. The company's portfolio includes Lighting Components, High Power LEDs, LED Lighting Modules, Lamps, SMD LEDs, and Digital Displays, among others.

Hubbell Incorporated

Hubbell is known for offering a wide range of products which are designed to tackle business challenges, enhance safety, boost energy efficiency, manage wiring, and enhancing grounding systems. They are a leading manufacturer which specializes in electrical and utility solutions contributing to the development of reliable, renewable, and resilient energy infrastructure. The company has been offering high-quality critical infrastructure solutions that are also aligned with clean energy trends, and energy efficiency, widespread electrification.

Zumtobel Group

The Zumtobel Group is operating globally with offices in more than 90 countries and ten manufacturing plants spread all around the world. They offer their products and services through their brands Thorn, Zumtobel, and Tridonic. Under these brands, they have a wide range of innovative lighting solutions, and related services catering to consumers’ needs. They have their strategic presence in all major markets.