Global LED Market Size, Share - Industry Trend and Forecast 2016 - 2024
Latest
industry research report on: Global LED Market | Industry Size,
Share, Research, Reviews, Analysis, Strategies, Demand, Growth,
Segmentation, Parameters, Forecasts
Global LED Market: Overview
Defined by energy efficiency
and improved controllability, the advent of light-emitting diodes
(LED) is considered revolutionary. By late 2014, LED lighting
constituted a substantial share of the global lighting market. The
trend is anticipated to continue through the report’s forecast
period from 2016 to 2024.
A light emitting diode is
defined as a two-lead semiconductor light source. Being a p-n
junction diode, it emits light when activated. The recent
developments introduced in LEDs allow them to be used in
environmental lighting. LEDs have been witnessing surging demand
worldwide due to the advantages they offer over incandescent light
sources. These include lower energy consumption, improved physical
robustness, longer lifetime, faster switching, and smaller size.
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LEDs
boast disparate characteristics. Thus, their applications are as
diverse as aviation lighting, headlamps, automotive, general
lighting, forensic, health care, advertising, signals and signage,
lighted wallpapers, camera flashes, mobile devices, and electronic
devices. LEDs have emerged as a powerful source for lighting;
however, they remain somewhat more expensive and require more precise
heat and electricity management than compact fluorescent lamps of
similar output.
The
report on light emitting diodes presents key insights into the growth
trajectory exhibited by the LED market over the last few years. An
in-depth study of the various economic, social, and commercial
factors poised to impact the market over the forthcoming years makes
a valuable inclusion in the report.
Global
LED Market: Key Opportunities and Threats
The
growing awareness among consumers about the benefits of the longer
lifespan of LEDs has been leading to their widespread adoption. The
market is also expected to gain impetus from the declining prices of
LED lamps, their growing application in display back lighting, and
the high efficacy offered by LED lamps.
In
the initial days, the application of LED lighting was limited to
certain specific purposes and had not entered the mainstream. The
emergence of LED in general lighting applications also helped the
market to gain momentum. Given its rapid proliferation, the market
for LED lighting is soon expected to surpass the conventional market
for CFL. However, the high initial cost of LEDs has been restricting
their initial acceptance. Nevertheless, considering the longer
lifespan of LED lamps, the overall cost incurred on these lamps is
found to be lower than CFLs. This is a crucial factor driving the
global LED market.
The
market also has been gaining from the growing application of LED in
display and digital signage or large screens. This, coupled with the
falling prices of the technology, would positively influence the
growth exhibited by the market during the forecast period. Various
technologies are used in the manufacturing of LED products. Chips and
components are basic materials used in the production of LED lamps.
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Global LED Market: Vendor
Landscape
Enterprises operating in the
global LED market are strategically diverse, as they operate at
various levels of the market’s value chain. Some of these
enterprises focus only on manufacturing LED chips and components,
while others are involved in the production of lamps and luminaries.
Besides this, there are other companies that are engaged in the
delivery and transportation of final products. The rising demand for
LED in newer applications would also provide opportunities for the
entry of new players in the market.
Key companies operating in the
global LED market include Panasonic, LG, Samsung, and Philips.
This research report analyzes
this market on the basis of its market segments, major geographies,
and current market trends. Geographies analyzed under this research
report include
North America
Asia Pacific
Europe
Middle East and Africa
Latin America
This report provides
comprehensive analysis of
Market growth drivers
Factors limiting market
growth
Current market trends
Market structure
Market projections for
upcoming years
This report is a complete study
of current trends in the market, industry growth drivers, and
restraints. It provides market projections for the coming years. It
includes analysis of recent developments in technology, Porter’s
five force model analysis and detailed profiles of top industry
players. The report also includes a review of micro and macro factors
essential for the existing market players and new entrants along with
detailed value chain analysis.
Reasons for Buying this
Report
This report provides
pin-point analysis for changing competitive dynamics
It provides a forward
looking perspective on different factors driving or restraining
market growth
It provides a six-year
forecast assessed on the basis of how the market is predicted to grow
It helps in understanding
the key product segments and their future
It provides pin point
analysis of changing competition dynamics and keeps you ahead of
competitors
It helps in making informed
business decisions by having complete insights of market and by
making in-depth analysis of market segments
It provides distinctive
graphics and exemplified SWOT analysis of major market segments
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