Global LED Industrial Lighting Market 2018-2022
About LED Industrial Lighting
A light-emitting diode (LED) is a semiconductor diode electronic device that emits visible light when current passes through it. When several LEDs are connected, the light emitted is monochromatic, and has a single wavelength. The output of an LED can range from red (approximately 700 nanometers wavelength) to blue-violet (about 400 nanometers wavelength). LEDs help to address key issues like energy crisis, resource scarcity, and climate change due to their high energy efficiency.
Technavio’s analysts forecast Global LED Industrial Lighting market to grow at a CAGR of 8.92% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the Global LED Industrial Lighting market for the period 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global LED Industrial Lighting Market 2018-2022
Technavio recognizes the following companies as the key players in the Global LED Industrial Lighting Market for 2018-2022: Cree, Dialight, Eaton, General Electric
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is the increasing interest in CSP LED lighting for industrial applications.”
According to the report, one driver in the market is the phasing out halogen, incandescent, fluorescent, and HID lamps.
Further, the report states that one challenge in the market is high cost of implementing LEDs.