Global LED market comprises of the LED based products that find application in lighting, displays, automotive, backlighting, signals and others. The price of the technology is the very important factor in any market. Decreasing prices of LED lamps is one of the major factors impacting the global LED market.
Government bodies such as local government and municipal utilities and states provide rebates for promoting installation of renewable energy systems and energy efficiency measures. These programs provide funding for energy saving solutions such as bulbs, solar water heating and photovoltaic (PV) systems. Utility companies are also providing various rebates to their commercial and industrial customers for helping them cope with future energy cost increases provide significant energy and economic benefits to the utility system and ratepayers and reduce greenhouse gases. Therefore, this will drive the demand for the LED market.
Increase in government focus on energy saving solutions, increase in utility rebates, and Growing display and large screen backlighting market majorly drive the market. Despite such advantages, high initial cost tends to impede the growth of this market. In the near future, growth of smart lighting and high efficacy LED are factors expected to create lucrative opportunities for the key players operating in the LED market.
The LED market is segmented based on product type, device configuration, technology, end-user, application, and region. Based on product type, it is categorized into LED Lamps, LED Fixtures, based on device configuration, it can be categorized as Pinned LED, Chip on Board LED, Surface-mounted LED and Others. The technology segment is further segmented into basic LED, high brightness LED, OLED, Ultra Violet LED and polymer. The end-user segment is divided into residential, commercial, industrial, outdoor and architectural. The application segment is divided into automotive, general lighting, backlighting, signal & signage and others. Based on region, the market is analyzed across North America, Asia Pacific, Europe, and LAMEA.
KEY BENEFITS
This study comprises analytical depiction of the global LED market with current trends and future estimations to depict the imminent investment pockets.
The overall market potential is determined to understand the profitable trends to gain a stronger coverage in the market.
The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
The current market is quantitatively analyzed from 2017 to 2024 to highlight the financial competency of the market.
Porter's Five Forces analysis illustrates the potency of the buyers and suppliers.
KEY MARKET SEGMENTS
By Product Type
LED Lamps
LED Fixtures
By Device Configuration
Pinned LED
Chip on Board LED
Surface-mounted LED
Others
By Technology
Basic LED
High Brightness LED
OLED
Ultra Violet LED
Polymer
By End-user
Residential
Commercial
Industrial
Outdoor
Architectural
By Application
Automotive
General Lighting
Backlighting
Signal & Signage
Others
By Region
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Russia
Rest of Europe
Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
