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The North America LED lighting market size is forecast to increase by USD 7.81 billion at a CAGR of 11.6% between 2023 and 2028. The market is experiencing significant growth, driven by the declining manufacturing costs of LED semiconductor devices and the increasing popularity of energy-efficient lighting solutions. Indoor applications, such as residential and commercial spaces, account for a large portion of the market share, while outdoor applications, including streetlights and signage, are also gaining traction. The high average cost per LED fixture is a challenge for the market, but the growing trend towards retrofit installations and the integration of intelligent lighting systems are offsetting this. E-commerce platforms have also made it easier for consumers to purchase LED lights, further boosting market growth. The light emission efficiency of LEDs, which consumes less electric current compared to traditional incandescent lights, is a major factor contributing to their increasing adoption.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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