It was reported that the Vietnamese LED lighting market reached US$604 million last year. The LED lighting market in Vietnam could reach $1,056 billion by 2026.
The Vietnamese government is supporting the use of LED lighting for its goal of reducing energy consumption and carbon footprint with two major projects – Vietnam Energy Efficient Public Lighting Project (VEEPL) and Vietnam National Energy Efficiency Plan (VNEEP). Vietnam has explored the LED technology through traffic lights and advertising industry.
According to a study by Grand View Research Inc, the global smart lighting market is expected to reach $46.9 billion by 2028 with a compound annual growth rate (CAGR) of 20.4%.
While the global smart lighting market is expected to reach $46.9 billion by 2028, on November 2, the conference will highlight the lighting technology for sustainable development hosted by Signify Vietnam, Mr. Phung Hoai Duong, General Manager of Signify Vietnam. said “The growth of LED lighting in the Vietnamese market is increasing due to the trend of smart cities, smart homes, smart street lighting systems and the demand for decorative energy-saving lighting systems”.
Due to several advantages of Led technology, Vietnam has experienced robust growth in recent years, and Led technology is set to dominate the country’s lighting industry in the coming years.
