ID: MRFR/SEM/2114-HCR | February 2021 | Region: Global | 100 pages
Market Synopsis of LED Lighting Market:
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.
The key drivers of LED lighting market is strong government support, focus on LED standardization, boom in real estate sector, organized retail market, improvement in rural electrictification and growing population are theignificant 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.
The LED lighting market is segmented on the basis of installation type, product and application. On the basis of installation type it consists of retrofit installation. The retrofit installation involves a multitude of tasks that must complete, before the consumers begin to remove or install cable. The retrofit requires to address a unique set of circumstances, determined by the scope and design of the cabling installation. Some retrofits involves a simple expansion of a phone system or a data network. Others may involve voice and data systems, security and fire-alarm systems and an upgrade to the backbone or horizontal-cabling infrastructure.
The LED Lighting Market is expected to grow at approximately USD 105 Billion by 2023, at 14% of CAGR between 2017 and 2023.
Study Objectives of LED Lighting Market:
LED Lighting Market:
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.
LED Lighting market for segment on the basis of Installation Type, Product and Application.
LED Lighting Market by Installation Type:
LED Lighting Market by Product:
LED Lighting Market by Application:
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 has 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.
Frequently Asked Questions (FAQ) :
The global market of LED lighting expected to thrive at 14% CAGR and value at USD 105 Billion by 2023.
Phillips Lighting Holding B.V. (Netherlands), Osram Licht AG(Germany), and General Electric Company (U.S.) are some major players of the market.
New installation and retrofit installation are types of LED lighting installations. Retrofit installation are widely used.
Indoor lighting and outdoor lighting are two major applications of LED lighting. Outdoor LED lighting has high popularity.
The flexibility offered by retrofit installation is expected to gain considerable traction.