Saudi Arabia is one of the most important marketplaces in the Middle East. Saudi Arabia, for example, is the 14th-largest country in the world and the second-largest OPEC member country. The country has seen tremendous expansion in infrastructure development over the years, producing a favorable market setting for the growth of the investigated industry. According to the International Telecommunication Union, Saudi Arabia is currently constructing 16 smart cities (including the Red Sea, NEOM, Qiddiya, SPARK, and Waad Alshamal) to fulfill its goal of becoming the most connected and digital nation by 2030. During the projected period, this is expected to provide the substantial potential for the growth of the LED lighting market. Furthermore, growing knowledge of the benefits of utilizing energy-efficient products motivates businesses to replace old lighting systems with LEDs. For example, the National Energy Efficiency Services Company (NESCO) announced in April 2021 that it will replace 74,000 conventional "sodium" bulbs with other smart systems (LED) lights in 8 Riyadh municipalities. Al Nasser Group, LEDVANCE GmbH, Alfanar Group, NVC International Holdings Limited, OPPLE Lighting Co. Ltd., CINMAR Lighting Systems, Huda Lighting, Al AbdulKarim Holding, Zumtobel Group AG, Signify N.V., TRILUX GmbH & Co. KG, National Lighting Company are major companies in Saudi Arabia LED Lightning Market. According to the research report, provided by Bonafide research “Saudi Arabia LED Lighting Market, Overview 2028”, is expected to add USD 1.24 Billion in terms of Market Size by 2028. The growing adoption of LEDs as a light source is likely to drive the growth of the LED lighting market during the forecast period. Furthermore, lower LED prices, reduced heat losses, and increasing acceptance of LED lighting in various end uses such as industrial buildings, and residential and commercial buildings are expected to drive the growth of the LED lighting market. To add to further, favorable government regulatory policies are expected to support the growth of the interior LED lighting market. On the other side, a lack of understanding about the cost of installation is expected to stymie the growth of the LED lighting market over the forecast period. Furthermore, technological innovation and development, as well as diverse product designs by LED light producers, will give significant chances for the LED lighting industry to grow in the next years. However, the advent of alternative technologies shortly may pose additional challenges to the growth of the LED lighting market. Electricity consumption is expected to rise by more than 50% over the next 20 to 25 years, propelling the energy-efficient Saudi Arabian lighting market. Smart lighting systems, according to the International Energy Agency (IEA), can save up to 35% more energy than traditional lighting systems. Lighting accounts for the majority of electricity use in the residential, commercial, and industrial sectors. Lighting consumes 15% of overall electricity usage and produces 5% of total greenhouse gas emissions in the country; hence LEDs are being used to lower both. The fast use of energy management systems, as well as security and access control systems, is pushing the adoption of smart home technologies, resulting in considerable development in the Saudi lighting industry. Because smart homes have already matured to a large level in industrialized nations, they are gaining popularity in Saudi Arabia, owing to the government's encouraging activities and strong customer interest in lowering energy use. The government intends to rapidly develop smart homes and smart lighting penetration (smart bulbs' share in houses was 3.0% in 2020), which will help the country's lighting industry. As per World Bank, the population of Saudi Arabia was 35,340,680 in 2021, of which 20,437,084 were male and 14,903,596 were female. Of the total population, 8,671,039 are under the age of 14. The population with an age range of 20–40 is 12,188,458. The urban population is 29,799,824 and the rural population is 5,462,868. Saudi Arabia's GDP in 2021 was USD 833.54 billion, the inflation rate was 3.1%, and the per capita income was US$23,585.9. Increasing Urbanization and increasing per capita income are the major factors for the growth of the LED Lightning market in Saudi Arabia. Saudi Arabia's use of renewable energy has lately increased, with a concentration on wind and solar electricity. As of the end of 2018, Saudi Arabia has 142 MW of installed renewable energy capacity, with wind power accounting for 3 MW and solar power accounting for 139 MW, of which 89 MW was photovoltaic (PV) and 50 MW concentrated solar power. The GCC's total renewable capacity was roughly 867 MW in 2018. In 2018, total global renewable production was roughly 2,468 TWh, with Saudi Arabia accounting for a modest percentage of total global renewable production (0.01%) at 0.4 TWh. However, the country's renewable generation more than doubled from 2017 to 2018. (0.2 TWh). The National Renewable Energy Program (NREP- Phase 2) aimed to create (6) plants with a total capacity of approximately (1.47) gig tonnes. There are two types of projects (a and b), these projects are divided into two categories: Category (a), which comprises projects with capacities less than (100) MW, such as the Madinah and Rafah projects, and Category (b), which contains four projects with capacities greater than (100) MW, such as Rabigh, Jeddah, Shuaiba, and Al Qurayyat. The agreements for the Shuaiba project have been completed, and work is being done to finalize the project's financial closure. The mainland deal for the Al Qurayyat project was completed, and work is continuing to sign agreements and complete the project's financial close. National Renewable Energy Program (NREP- Phase 3) aims to develop (4) renewable energy projects with a total capacity of about (1,200) MW, which was awarded to qualified developers, with the signing of agreements for the Ar Rass and Saad solar renewable energy projects. The Energy & Cogeneration Regulatory Authority (ECRA) is a Saudi government agency that oversees the electricity and water desalination industries in the country. Its primary responsibility is to develop and implement a regulatory framework following government laws, regulations, policies, and standards, as well as international best practices, to ensure the provision of safe, reliable, reasonably priced, and efficient electric power and desalinated water to Saudi Arabian customers. The excessive use of electricity in Saudi Arabia is primarily due to the high cost of electricity. Current Saudi Arabian costs are roughly $0.04/kWh (compare to US pricing, which is close to $0.12/kWh). Many residents are unconcerned about their electricity bills because prices are low, which drives increasing consumption rates. There are few incentives for individuals or businesses to invest in energy efficiency because it would only result in marginal savings. Furthermore, alternatives such as solar and wind cannot compete at present prices. The growing need for the internet of things (IoT) technology, rising consumer and government awareness about energy savings, and the emergence of light fidelity (Li-Fi) technology are the primary factors driving market expansion. The demand for energy-efficient connected lighting controls and ongoing and upcoming smart city projects, as well as various policies encouraging energy conservation and environmental protection, combined with stringent regulations, discourage the use of incandescent lamps in developing economies, exacerbating the market value. Commercial businesses' increased usage of smart and automated technologies is consequently likely to fuel market growth. COVID-19 Impacts: The lighting business, like many other industries in Saudi Arabia, was impacted by COVID-19 since supplies of electrical materials were disrupted due to a shutdown in several foreign nations. The market recorded a decrease in the pandemic scenario and a decrease in total market value. However, the growth momentum is expected to quickly rebound. COVID-19 has had an impact on the initial or starting node of the market value chain, namely lighting product producers. Furthermore, the market is seeing a pause in production and disruption in the supply chain, resulting in reduced industrial output growth and a fall in light manufacturing output across major manufacturing hubs. Considered in this report • Geography: Saudi Arabia • Historic year: 2017 • Base year: 2022 • Estimated year: 2023 • Forecast year: 2028 Aspects covered in this report • Saudi Arabia LED lighting market with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product Type: • Lamps : • A-Type • T-type • Others (Can LED light bulbs, Flood LED light bulbs, Track LED light bulbs, Tube LED light bulbs, Etc.) • Luminaries : • Downlighting • Decorative • Directional • Others By Application: • Indoor • Outdoor By Sales Channel: • Retail/ Wholesale • Direct Sale • E-commerce By Installation Type: • New • Retrofit The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual reports of companies, and analyzing government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the LED Lighting industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.