Light engine market: rise in population to contribute in rise in market growth due to wide adoption of led

“The global light engine market was valued at US$ 2,534.9 Mn in 2016 and is projected to expand at a cumulative annual growth rate (CAGR) of over 9.61% from 2018 to 2026, according to a new report published by Transparency Market Research (TMR) titled ‘Light Engine Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ The report suggests that the rising popularity and adoption of LED is one of the primary factors boosting the expansion of the light engine market. Furthermore, there has been significant rise in the adoption of LEDs on a global level owing to their multiple benefits such as cost effectiveness and energy efficiency. Additionally, LED-based solutions are gaining popularity in commercial and industrial applications.”

Click here to read more from SB Wire.

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