San Francisco, CA - LED Lighting Market size is
expected to value at USD 108.99 billion by 2025, during the forecast period.
The market is subject to witness a substantial growth due to regular
upgradation in energy conservation systems, advent of standardized deviation
color matching (SDCM) system, and extended life cycle of CFL lamps.
The use of smart and connected lighting solutions is
constantly growing in different verticals such as domestic, commercial, and
industrial sectors, is one of the major driving factor for the growth of the
industry in recent years. Numerous benefits offered with the use of the LED
lighting solutions over the traditional incandescent bulbs such as high
efficiency, lower production cost, and moderate heat loss is spurring the
progress of the market.
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Technological advancements at present and inclination
towards green lighting solutions over traditional systems to achieve high-end
efficiency and reduced prices are fueling the growth of market in upcoming
years. Globally, the LED lighting market is predicted to grow at CAGR of 14.4%
in forecast period, providing numerous opportunity for market players to invest
for research and development in the LED lighting industry.
Furthermore, the stringent environmental laws by multiple
local governmental agencies regarding greenhouse gas emissions are driving
industry players to adopt to green lighting solutions. The growing need for
electricity conservation across underdeveloped and developing countries due to
insufficiency in electricity production is driving market demand for LED
lighting solutions. Higher ratings and advanced design standards to achieve
superior performance and high efficiency with the use of the LED lighting
solutions is further attributing to the expansion of the LED lighting industry
across developed regions across the globe.
The domestic or indoor LED lighting segment is expected to
hold majority of the market share in recent years. While, it is anticipated
that commercial segment will surpass the indoor segment in near future. The
rising use of light emitting diodes as an ideal supplement to incandescent
bulbs or HID or florescent bulbs is paving the way for growth of the indoor LED
lighting market segment.
LED lightning have longer life cycle in comparison with the
traditional lighting systems, and is considered one of the key reasons for
increasing adoption of the LED lighting solutions. Also, they consume less
electricity and dost not require any maintenance. The increase in adoption of
the LED lighting solutions will allow to save as much as two hundred terawatt
hours of electricity each year. As the prices of LED lighting systems falls,
adoption of LED systems is expected to grow further.
Light emitting diodes systems utilizes fifty percent less
electricity in comparison with conventional systems such as fluorescent or
halogen bulbs, allowing substantial cost saving for consumers. LED lighting
systems occur in various size and shapes in order maximize output while
emitting least amount of heat in the process, unlike conventional lighting
solutions that emits light and heat in all direction. The major reason for
emission light in specific direction is, LEDs mainly placed on a flat surface
so they distribute the light hemi-spherically instead of spherically. Also, at
low degree temperatures, to kick start a fluorescent lamp a high voltage is
required unlike LED bulbs.
The LED lighting industry is divided into regional market
segment such as North America, Europe, Asia-Pacific, Latin America and Africa.
North America has shown major growth in recent years owing to the presence of
well-established industry players. Asia-Pacific region is predicted to hold
major market share in the LED lighting market with massive growth in forecast
period. Countries such as Taiwan, India and China are leading the Asia-Pacific
market due to the growing need for electricity conservation and growing
investments by market players assuming potential opportunities in the market.
The key players in the LED lighting industry are Philip Electronics Inc., Cree Co.,
OsramOpto Co., Digital Lumens Incorporations, GE Lighting Solutions and Toshiba
Co.
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Regional Analysis For
LED Lighting Market:
For comprehensive understanding of market dynamics, the
global LED Lighting Market is analyzed across key geographies namely: North
America, Europe, Asia-Pacific, Latin America and Africa. Each of these regions
is analyzed on basis of market findings across major countries in these regions
for a macro-level understanding of the market.
Significant Features that
are under Offering and Key Highlights of the Reports:
– Detailed overview of LED
Lighting Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application etc
– Historical, current and projected market size in terms of
volume and value
– Recent industry trends and developments
– Competitive landscape of High-Performance Alloys Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising
growth.
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