Frost Radar in the Global LED Lighting Market
Huge opportunities in energy savings have presented an excellent market opportunity for LED lighting across the globe. The LED market is also driven by factors like reduced cost, longer lifespan and government initiatives and regulations. The LED lighting market is set to grow at a rate of 8.4% from $58,619 million in 2018 to $95,040 in 2025.
The rise of dominant regional players and specialized lighting solution providers has exerted pressure on the incumbents who are switching to new business models to sustain profitability. Mass commercial growth will be centered around Latin America and Africa, while Europe and the United States will focus on offering advanced LED lighting solutions centered around human behavior.
LED lighting is witnessing demand from applications beyond illumination in areas like healthcare, farming, and decoration. The market for intelligent lighting systems, with in-built sensors for occupancy and motion sensing capabilities, will grow in the forecast period. For large installations such as industrial, office, outdoor segments, new business models that eliminate the need for upfront payment will see an increased uptake.
For this research, Frost & Sullivan has used a unique and robust platform called Frost Radar to analyze the market and identify Companies 2 Action (C2A). We have analyzed more than 50 companies and narrowed it down to 25 companies based on their growth indicators and recent innovations. Frost & Sullivan has evaluated and positioned these 25 companies based on 2 major indices, Growth and Innovation, and each index has 5 criteria.
Companies that are positioned in the radar are: Signify, OSRAM, Zumtobel, GE, Acuity Brands, Fagerhult, Dialight, Havells, Syska, Wipro Lighting, Heliospectra, LumiGrow, Luceco, and more.
The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
Key Issues Addressed for Companies Included on the Radar:
• What are their innovative offerings?
• What are their strengths and opportunities for the future?
• At what rate is each company growing?
• What is the rationale behind their position in the Radar?
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