LED Lighting Global Market - Overview
As LED technology advances, more and more people are choosing to make the switch and there is no difference when it comes to LED Lighting. From small household use to big businesses, the need to save on energy costs is getting more important. Not only does the LED Lighting save the money but also the time of having to replace the lighting after the certain rated life. With a long lasting rated life, LED Lighting is here to stay. LED Lighting has many benefits, one being they don’t contain any harmful toxins such as mercury and are therefore better for the environment. As with all LEDs they produce a lot less heat than other lamps. LED Lighting works in most temperatures unlike the fluorescents which can on occasion not light up if temperature is too low. LEDs also have a better resistance to switching cycles than fluorescents which will often cause them to fail if constantly switched on and off. In a more domestic environment, fluorescents will begin to buzz nearer the end of their life time; LED Lighting not buzz or flicker on starting up. The rapid advancement in technology, encourage the invention of better and cost effective technology. The light-emitting diode (LED) is one of today’s most energy-efficient and rapidly-developing lighting technologies. LED is a highly energy efficient lighting technology, and has the potential to fundamentally change the future of lighting. LED is very different from incandescent bulbs and CFLs, the differentiating factor is LEDs are the size of a fleck of pepper, and a mix of red, green, and blue LEDs is typically used to make white light.
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According to a recent study report published by the Market Research Future, The global market of LED Lighting is expected to reach USD ~ 105 Billion by the end of 2023 with 14% CAGR during forecast period 2017-2023.
The key drivers of LED lighting market is strong government support, focus on LED standardization. The boom in real estate sector, organized retail market, improvement in rural electrification and growing population are the key drivers of the LED lighting market. The advantages of LED lighting include high intensity of brightness, high energy efficiency, low radiated heat, high reliability, negligible UV rays and long life span.
However, the high production cost is expected to pose as a challenge to LED Lighting Market Share. Nonetheless, screen and display backlighting market development are likely to open new avenues for the LED lighting demand.
Key Players
The prominent players In The LED lighting market are – Phillips Lighting Holding B.V. (Netherlands), General Electric Company (U.S.), Osram Licht AG(Germany), Cree Inc. (U.S.), Cooper Industries, Inc. (Ireland), Virtual Extension (Israel), Dialight Plc. (U.K.), Zumtobel Group AG (Austria), Samsung (South Korea), Sharp Corporation (Japan), among others.
Segments:
LED Lighting market for segment on the basis of Installation Type, Product and Application.
LED Lighting Market by Installation Type:
- New Installation
- Retrofit Installation
LED Lighting Market by Product:
- Lamps
- Luminaires
LED Lighting Market by Application:
- Indoor Lighting
- Outdoor Lighting
LED Lighting Global Market - Regional Analysis
The regional analysis of LED lighting market is being studied for region such as Asia Pacific, Americas, Europe and Rest of the World. Rapid infrastructure activities across different industries have driven the market of LED lighting market in Asia-Pacific region followed by European region. Europe held the largest share of the global LED lighting market and is set to dominate the world marketplace. This growth is mainly attributed to the rising demand for outdoor application paired with stringent energy efficiency regulation.
APAC region is anticipated to be the largest market for LED lighting during the forecast period. The presence of a large number of LED lighting manufacturing units and industries in this region is a noteworthy factor that will result in the strong growth of this market in APAC. APAC will account for an impressive revenue share during the forecast period.
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Intended Audience
- Investors and consultants
- System Integrators
- Government Organizations
- Research/Consultancy firms
- Technology solution providers
- LED Manufacturers
- Smart Lighting Solution Providers
About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
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