Led Lighting Market Growth Analysis And Forecast To 2027

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Market Overview

A light-emitting diode (LED) is a semiconductor device that emits light when an electric current is passed through it. Light is produced when the particles carrying current combine together within semiconductor material. The color of light is determined by the energy required for electron to cross the band gap of semiconductor. An LED can produce different range of colors including red, yellow, blue, green, white, purple, bi-color, tri-color and infrared. LEDs are typically used in indoor lighting, outdoor lighting, and as a backlight source in LCD display. Currently, LEDs are among the most efficient lighting sources available and is expected to become the first technology in the near future.

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Market Dynamics

Rising awareness among the people about energy shortage is expected to fuel the Global LED Lighting Market in the forecast period. People are becoming more aware about the global energy shortage, making more energy conscious choices in there day to day today life. Moreover, companies are also preferring LED over other light bulbs. LED are cheaper, provides long compared to other devices.

Market Opportunities

Adoption of solar LED Lighting in remote areas are expected to present lucrative business opportunity for market players

Emerging economies in Asia Pacific and Africa are adopting solar LEDs to provide electricity in remote places, which is expected to pose lucrative growth opportunity for market players over the forecast period. For instance, in September 2015, the government of Kenya launched a US$ 1.2 Bn project to deploy LED street lights in Mombasa City, Kenya.

Financial support from regulatory authorities is expected to provide excellent business opportunity for market players

Regulatory authorities in various African countries focused on providing financial support to consumers to adopt LED Lighting. Some schemes such as Monetary Financial Institution (MFI) based micro-lending for Pico-powered lighting systems (PLS), engaging semi-formal and informal financing sector, mobile payment-enabled lending, and pay-as-you-go models and payroll financing are providing financial support, subsidies, and incentives to consumers for the adoption of modern lighting solutions.

Detailed Segmentation:

• Global LED Lighting Market, By Product Type:

  • LED Bulbs

  • Bare LED Tubes

  • LED Fixtures

  • LED Downlights

  • Others

• Global LED Lighting Market, By Services:

  • Installation Services

  • Consulting Services

  • Maintenance & Support Services

• Global LED Lighting Market, End User:

  • Residential

  • Commercial

  • Industrial

• Global LED Lighting Market, By Application:

  • Outdoor

  • Indoor

  • Backlighting

  • Automotive

  • Others

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Key companies covered in the Global LED Lighting Market includes, Daktronics Inc., OSRAM Licht AG, Hubbell Lighting, Inc., GE Lighting, LLC, Acuity Brands Lighting, Inc., Cree, Inc., Toshiba Lighting and Technology Corporation, Sharp Corporation, Philips Lumileds Lighting, Eaton Corporation (Cooper Industries PLC), and Samsung Electronics Co. Ltd.

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