LED Retrofit Market to Reach USD 7.6 Billion by 2034, Driven by Energy-Efficient Lighting Demand
The LED retrofit market is witnessing strong growth, fueled by the rising demand for energy-efficient lighting solutions. LED retrofitting involves upgrading conventional lighting systems with advanced LED technology, renowned for its high energy efficiency, long lifespan, and eco-friendly attributes. Market expansion is largely driven by stringent energy conservation regulations and increasing consumer awareness of the cost-saving and environmental advantages offered by LED lighting. The global LED retrofit market is projected to grow at a compound annual growth rate (CAGR) of approximately 8.8% during the forecast period (2024-2034). By the end of 2034, the market is expected to surpass a valuation of $ 7.6 billion, driven by rising investments in smart classrooms and corporate digitalization. Request Research Report Sample: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=43124 The LED retrofit market is highly competitive, with numerou...