Strategic Analysis of the LED Lighting Market in Southeast Asia
The LED lighting market is gaining momentum in Southeast Asia. The market is smaller than in Asia-Pacific but offers long-term prospects to market participants due to strong governmental support. Other drivers include the development of smart cities and economic corridors in Indonesia and Malaysia. Singapore provides the largest opportunities in Southeast Asia, but Indonesia emerged as the fastest-growing LED lighting market. Price reduction is expected to continue but market participants are producing more innovative products that focus on energy-efficient lighting and optimum production cost efficiency.
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