The Energy Efficient Lighting Technology is driven by increasing focus on reducing carbon footprint

The global energy efficient lighting technology market is estimated to be valued at USD 237.54 Billion in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2024-2031.

Energy efficient lighting technology includes LED lamps, CFLs and luminaires that are highly energy efficient compared to incandescent and fluorescent lighting solutions. Such lighting solutions utilize light-emitting diodes (LEDs), which are semiconductor lights that convert electricity into light.

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