
According to a new market report published by Transparency Market Research, "Industrial and Commercial LED Lighting (Industrial, Commercial, Architectural, and Outdoor) Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019," the global industrial and commercial LED lighting market was worth USD 12,927.9 million in 2012 and is expected to reach USD 86,087.9 million by 2019, growing at a CAGR of 30.8% from 2013 to 2019. Europe was the largest market for industrial and commercial LED lighting market in 2012. Growth in this region is primarily driven by government initiatives and projects for LED lighting deployment. In addition, ban on incandescent bulbs across the different countries is expected to drive the market in near future.