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LED Lighting Market worth $118.4 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, Feb. 23, 2024 /PRNewswire/ — The global LED lighting market is projected to grow from USD 78.9 billion in 2024 to USD 118.4 billion by 2029, registering a CAGR of 8.5% during the forecast period according to a new report by MarketsandMarkets™. The LED lighting market is propelled by a combination of key drivers that have contributed to its widespread adoption globally. Energy efficiency stands out as a primary driver, with LED technology offering significant reductions in energy consumption compared to traditional lighting sources.

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Browse in-depth TOC on “LED Lighting Market” 

171 – Tables
67 – Figures
271 – Pages

LED Lighting Market Report Scope:

Report Coverage

Details

Market Revenue in 2024

$ 78.9 billion

Estimated Value by 2029

$ 118.4 billion

Growth Rate

Poised to grow at a CAGR of 8.5%

Market Size Available for

2020–2029

Forecast Period

2024–2029

Forecast Units

Value (USD Million/Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

By Product, Application, Installation, Sales Channel and Region

Geographies Covered

North America, Europe, Asia Pacific, and Rest of World

Key Market Challenge

Lack of common open standards for LED lighting

Key Market Opportunities

Rising adoption of LED lighting in horticulture sector

Key Market Drivers

Favourable government initiatives and regulations for energy efficient LED lighting solutions across the world

 

Environmental sustainability is another crucial factor, as LEDs produce less carbon emissions and contain no hazardous materials. Technological advancements and decreasing production costs have made LED lighting more affordable, further stimulating market growth. Government initiatives and regulations promoting energy-efficient solutions, along with an increasing awareness among consumers regarding the long-term cost savings and environmental benefits of LEDs, play a pivotal role in driving market demand. Moreover, the versatility of LED technology, providing options for smart lighting solutions and diverse applications across residential, commercial, and industrial sectors, contributes to the overall expansion and dynamism of the LED lighting market.

Lamps segment to lead the product segment during the forecast period.

LED lamps are expected to have a higher market share in the LED lighting market due to several compelling reasons. The versatility of LED lamps makes them suitable for a wide range of applications, from residential to commercial and industrial settings, contributing to their widespread adoption. LED lamps offer a variety of form factors, including traditional shapes and innovative designs, providing consumers with diverse options to fit different lighting needs. Additionally, the ease of retrofitting existing fixtures with LED lamps enhances their market appeal, allowing for a seamless transition to energy-efficient lighting. The efficiency and longevity of LED technology, characterized by lower energy consumption and extended lifespans compared to traditional lamps, result in substantial cost savings for consumers over time, further driving the preference for LED lamps. Furthermore, the integration of smart lighting features and compatibility with home automation systems positions LED lamps as part of the growing trend toward connected and intelligent lighting solutions, consolidating their dominance in the market.

By Installation, new installation is likely to record the highest growth rate during the forecast period.

New installations exhibit a higher CAGR in the LED lighting market within the installation type segment. The burgeoning demand for energy-efficient lighting solutions, coupled with advancements in LED technology, drives a preference for new installations over retrofitting existing systems. As construction and urbanization projects surge globally, there is an inherent need for modern and sustainable lighting infrastructures, positioning new installations as a pivotal growth driver. Additionally, stringent energy efficiency regulations and environmental awareness prompt a proactive approach in integrating LED lighting during the construction phase, further propelling the CAGR for new installations.

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Asia Pacific is expected to account for the largest market share in the global LED lighting market by 2029.

The Asia-Pacific region is poised to have the largest share in the LED lighting industry due to a convergence of influential factors. Rapid urbanization, particularly in countries like China and India, has led to a surge in demand for efficient lighting solutions, driving the adoption of LED technology. Government initiatives across the region, emphasizing energy efficiency and environmental sustainability, play a pivotal role in promoting LED lighting. Additionally, the sheer size of the population in Asia Pacific countries contributes to the scale of market adoption. As the region experiences economic growth, there is an increased capacity for investment in modern infrastructure, further boosting the demand for LED lighting in new construction projects.

Key Players

Signify Holding (Netherlands), Acuity Brands, Inc. (US), Cree Lighting USA LLC (US), ams OSRAM AG (Germany), LG Electronics (South Korea), Dialight (UK), Panasonic Corporation (Japan), Hubbell (US), Savant Systems, Inc. (US), and Zumtobel Group (Germany) are the major companies in the LED lighting companies.

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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

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About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

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TacticalPay Launches New GunBroker Payment Gateway for FFLs, Powered by NMI

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TacticalPay now offers FFLs a GunBroker payment gateway built for the firearms industry, that also seamlessly integrates with WordPress, WooCommerce and an extensive catalog of shopping carts and platforms.

HOUSTON, Oct. 30, 2026 /PRNewswire-PRWeb/ — TacticalPay LLC, a payments and point-of-sale provider for the firearms industry, today announced the TacticalPay Gateway, the company’s own payment gateway for FFLs and firearms businesses. Powered by NMI®, a global leader in embedded payments infrastructure, the TacticalPay Gateway is available now to new and existing TacticalPay merchants.

With TacticalPay POS, TacticalPay Tap and now the TacticalPay Gateway, an FFL can run the counter, the phone, the website and their GunBroker store all on one payments platform, with one support line.

Built for the Firearms Industry

Online sales are a growing share of revenue for gun stores, ranges and firearms retailers, but not every payment provider welcomes them. Some gateways and payment platforms restrict firearms sales outright, and others leave FFLs piecing together a gateway, a processor and a shopping cart from different vendors. The TacticalPay Gateway helps bring those pieces together under one name, on a firearm-friendly merchant account. Onboarding and support are handled by TacticalPay’s in-house team, based in Texas.

Powering Online Sales for FFLs

The TacticalPay Gateway powers e-commerce transactions for FFLs and firearms businesses. It can connect to a merchant’s own website, take phone orders through a virtual terminal, and serve as a payment gateway for GunBroker sales. Integrations with Shopify and more than 125 other shopping carts and platforms are available and easy to set up, along with card-on-file storage, electronic invoicing, recurring billing, 3-D Secure and fraud screening.

Powered by NMI

The TacticalPay Gateway runs on the NMI payment platform, which powers more than $700 billion in annual payment volume and more than 6.5 billion transactions a year for over 1.2 million merchants. The NMI platform lets partners deliver a fully branded payment experience to their own customers. For FFLs, that means a gateway with the scale and reliability of one of the industry’s largest platforms, under a name that understands their business.

“Firearms businesses deserve the same payment technology that every other industry takes for granted, and too often they haven’t had it,” said Rich McIver, Co-Founder & CEO of TacticalPay. “With TacticalPay POS, TacticalPay Tap and now the TacticalPay Gateway, an FFL can run the counter, the phone, the website and their GunBroker store all on one payments platform, with one support line.”

The TacticalPay Gateway is included in TacticalPay’s E-commerce plan and is also available with its retail plans. TacticalPay is exhibiting at SHOT Show 2027 in Las Vegas, January 19–22, and will demonstrate the gateway at Booth 42850.

About TacticalPay

TacticalPay LLC is a payments and point-of-sale provider for firearms businesses, in business since 2015. It offers firearms merchant accounts and credit card processing for gun stores, plus TacticalPay POS, TacticalPay Tap and the TacticalPay Gateway. TacticalPay holds a Better Business Bureau A+ rating and is a regular exhibitor at SHOT Show, the firearms industry’s trade show produced by the National Shooting Sports Foundation (NSSF). Visit https://www.tacticalpay.com/ to learn more.

About the NMI payment platform

NMI is powering the next generation of embedded payments with its modular, white-label payments platform and industry-leading gateway. Processing over $700 billion annually, NMI enables SaaS platforms, ISOs, PayFacs and banks to accept, manage, price and move money, turning payments into a strategic advantage, driving growth, loyalty and new revenue streams. More than 6,000 technology partners trust NMI to deliver seamless, scalable payment experiences across online, in-app, in-store, mobile and unattended environments. Learn more at nmi.com.

Media Contact

Andy Hagans, TacticalPay LLC, 1 (888) 281-5830, sales@tacticalpay.com, https://www.tacticalpay.com/

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SOURCE TacticalPay LLC

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Why Singles Over 50 Fear Connecting Online More Than Being Alone

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LOS ANGELES, Oct. 30, 2026 /PRNewswire/ — Building new connections later in life can feel daunting, especially for those who haven’t met someone they’re genuinely interested in for years. After a long time away from meeting new people, some may feel unsure about where to start, whether meaningful connections are still possible, or how to navigate concerns about online safety and the risk of scams.

For DateMyAge, a platform designed for mature singles, understanding these emotional and practical barriers to building relationships online is key to helping people connect with greater confidence. To explore these challenges, DateMyAge surveyed adults over 50 about their experiences, concerns, and attitudes toward forming new connections online.

Key Findings

57% can’t say they’ve met someone new they were genuinely interested in within the past decade.33% have wanted to try building connections online but stopped themselves from signing up.52% don’t know whether their children would approve of them building connections online.15% believe their children would think they are too old to pursue online connections.8% worry their children would see it as disrespectful to their other parent.11% haven’t asked their children or someone younger to set up a profile but would welcome their help.72% say being scammed online scares them more than spending the rest of their lives alone.47% cite fear of being scammed as their biggest barrier to signing up.32% identify privacy concerns as their biggest obstacle to building connections online.

Many Haven’t Met Someone New In Years

More than a third of respondents say it has been over 10 years since they last met someone new they were genuinely interested in, while a further 21% say they honestly can’t remember the last time it happened.

The findings show that many older adults have gone years without experiencing a meaningful romantic connection.

While interest in companionship remains, the path back into meeting new people can feel unfamiliar after long periods away from the relationship world.

Family Support Could Help Singles Over 50 Take The First Step

For singles over 50 who are unsure how to begin building relationships online, adult children could be an important source of support. Yet many aren’t sure how their families would react: 52% don’t know whether their children would approve, while 25% believe their children would be happy for them. Just 15% expect their children to think they’re too old to build relationships online.

Some would welcome practical help, too. While 4% have already asked their children or someone younger to set up a profile for them, another 11% would love that assistance.

The holidays, when families come together, could offer an opportunity to bridge that gap. Helping a parent create a profile, explaining how a platform works, or simply encouraging them to meet new people could make the process feel more approachable. For some, the first step towards a new connection may begin with a conversation at home.

Fear Of Scams Is Bigger Than Fear Of Being Alone

The survey’s most striking finding is that 72% of respondents say being scammed online scares them more than spending the rest of their life alone.

While loneliness is often assumed to be the biggest concern facing singles later in life, the findings point to trust and safety as even greater priorities.

For many older adults, the fear isn’t finding someone online — it’s not knowing whether that person is who they claim to be.

Privacy Concerns Continue To Hold People Back

Nearly one-third of respondents say privacy concerns are the biggest thing stopping them from signing up to meet people online.

Many older adults have spent decades building their personal and financial security. Sharing personal information online can feel like a significant risk, particularly when meeting strangers through digital platforms.

“There are many people who may still have the desire for socialization even in their advanced age, but because of worries about fraud, the prospect of making this first move becomes a challenge. What’s important here is to treat the process of forming relationships online with the same prudence and time investment as any other new relationship.”

— Jaime Bronstein, LCSW, Relationship Expert at DateMyAge

Conclusion

For singles over 50, building new relationships can mean overcoming several hurdles, from concerns about scams to uncertainty about family reactions and the challenge of getting started after years away from meeting new people.

With the right support and a little encouragement, taking that first step can feel more achievable. Sometimes, a new connection begins with something as simple as creating a profile, asking for help, or giving yourself permission to meet someone new.

Methodology

DateMyAge surveyed 1,000 adults over 50 to explore attitudes and behaviors surrounding online relationships, trust, and connection later in life.

pr@sdgroup.ai

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The Biological Computing Co. Launches World’s First Publicly Available Neuron-Derived AI Video Model

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TBC mischief 1 generates video 5x faster than its base model and is the lowest-priced image-to-video model on two leading AI marketplaces

SAN FRANCISCO, Oct. 30, 2026 /PRNewswire/ — The Biological Computing Co. (TBC), an applied biological computing company that uses living neurons to improve AI models, today launched TBC mischief 1, an AI video model that generates video 5x faster than its base model. Available on fal and OpenRouter, mischief 1 is the lowest-priced image-to-video model on both marketplaces, enabling video creators and developers to experiment with more ideas, faster and for less.

The launch marks a major step in bringing discoveries from living neurons into commercial AI. mischief 1 is faster and cheaper because of efficiencies TBC discovered in living neurons and applied directly to the model. Just five weeks after announcing its collaboration with Amazon Web Services (AWS) to bring the model to enterprise customers, TBC is extending access to creators and developers through fal and OpenRouter.

Built for how creators actually work

At half a cent per second, a five-second clip costs 2.5 cents, and 100 clips cost $2.50. Creators can test more ideas, compare takes and refine their work within the same budget. For developers, lower generation costs make it easier to build video into products that people can afford to use repeatedly.

Wonder Studios, an AI-native creative studio, tested mischief 1 in its own production workflow.

“Great storytelling comes from refining an idea until it’s right, and that’s usually the crunch point for time and budget. mischief 1’s speed and cost-effectiveness meant we could push the work much further within the same time and more cost effectively,” said Justin Hackney, co-founder of Wonder Studios. “That kind of efficiency gives creatives more time for the craft and lets them stay in the flow of an idea. As this approach reaches more advanced models, it could reshape how films and commercials are made, with faster, more efficient generation that finally keeps pace with imagination.”

A new source of AI efficiency

Built on Wan 2.2, a widely used open-weight video model, mischief 1 matches its quality while generating video 5x faster and at a fraction of the cost.

“We said we would take discoveries from living neurons all the way to a product anyone can use, and we did it faster than anyone expected,” said Alex Ksendzovsky, CEO and co-founder of TBC. “Behind this model is a discovery platform that keeps learning. Every experiment adds to our understanding of how neurons compute and gives us new opportunities to improve AI. Video is our first commercial application. We’re already working to bring those discoveries to language and physical AI, with the goal of building more capable models without simply adding more compute.”

TBC’s discovery platform grows living neurons in the lab, measures how they process information and identifies computational principles that can improve AI. Those discoveries become proprietary software that makes existing models more efficient. The neurons stay in the lab. Customers use software that runs on standard AI hardware and adds less than 0.1% to the base model’s parameter count.

TBC is already applying its discovery process to newer open-weight video models, with early results showing greater efficiency gains. Additional applications in language models and physical AI are in development.

“Our first model shows what happens when we learn from biology instead of relying on conventional inference optimization alone,” said Jon Pomeraniec, co-founder and COO of TBC. “mischief 1 is our first commercial proof point. The larger opportunity is to apply these discoveries across models and workloads. We’re building a platform that can change the economics of AI at scale.”

Most efficiency gains in AI today come from a shared set of industry techniques, such as quantization, distillation and caching. TBC’s optimizations come from a different source: direct measurements of living neurons. They are derived from biology, not just inspired by it, which makes them hard to replicate.

Availability

TBC mischief 1 is live on fal at https://fal.ai/models/TBC/mischief-1/image-to-video and OpenRouter at https://openrouter.ai/tbc/mischief-1 starting October 30 to mark Mischief Night. Learn more at tbc.co.

About The Biological Computing Co. (TBC)

The Biological Computing Co (TBC) is an applied biological computing company that uses living neurons to improve AI models. TBC makes intelligence radically more efficient by learning from biology. Discoveries in living neurons improve AI models that run on the silicon customers already use. Customers get better AI without changing their infrastructure. Headquartered in San Francisco, TBC is a fast-growing team of neuroscientists, biologists, AI researchers and engineers redefining how the world computes.

Media Contact:

tbc@hoffman.com

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SOURCE The Biological Computing Co.

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