The global high power LED market size was USD 4.56 Billion in 2021 and is expected to register a revenue CAGR of 4.2% during the forecast period, according to latest analysis by Emergen Research. Increasing demand for smart lighting systems is the key factor driving market revenue growth. Smart lighting is seen as the new frontier of the worldwide lighting industry, as smart homes, Internet of Things (IoT), and other new advanced technologies are primary driving factors in the expansion of high power LED market. The industry is currently more focused on light intensity dimming, lighting color temperature control, environmental sensing, and monitoring as significant applications of smart lighting idea. https://www.emergenresearch.com/industry-report/high-power-led-market