Companies in the global market for energy efficient lighting technology are leveraging multi-pronged strategies to stay ahead of the curve. Product development is one of them. Many keen players are seen expending money into creation of sophisticated, affordable, and eco-friendly reliable lighting products to better satisfy the myriad demands of the market. Another popular strategy with companies is mergers and acquisitions, which not just helps them to diversify their product portfolios but also expand their geographical outreach.

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The global market for energy efficient lighting technology is being boosted by the stringent regulations of governments trying to battle rising pollution. Their smart city projects across the world is also benefitting the market.

As per a report by Transparency Market Research, the global energy efficient lighting technology market will reach an estimated US$300 bn by 2025 by expanding at a CAGR of 7.9% between 2017 and 2025.

The different types of products purveyed in the global energy efficient lighting technology market are incandescent lamp, light emitting diode (LED), arc lamp, and gas discharge lamps. The arc lamp can be further divided into xenon arc lamp, mercury xenon arc lamp, ultra high performance lamps, and metal halide lamp.  The gas discharge lamps, again, can be divided into compact fluorescent lamp, linear fluorescent lamps, neon lamp, mercury vapor lamp, sodium vapor lamp, and electrode less lamp.

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The LEDs are expected to see maximum growth in the global energy efficient lighting technology market on account of their swift uptake on the back of surging popularity. This is because they are available in a range of customized shapes for both residential and commercial purpose. The gas discharge lamps are another promising segment that is expected to expand at a healthy clip. Compact Florescent Lamps (CFL) and Linear Fluorescent Lamps (LFL) are predicted to be main drivers of this product segment.