Global LED Lighting Market 2015-2019
About LED Lighting
An LED is a semiconductor light source used in various applications such as general lighting, backlighting, and automotive lighting. LEDs are used in exterior as well as interior lighting. LEDs are gaining acceptance because of their efficiency and low cost. LEDs also enhance safety and offer an aesthetic appeal. They are environment-friendly as they reduce energy consumption by up to 40 percent.
TechNavio's analysts forecast the Global LED Lighting market to grow at a CAGR of 25.89 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Global LED Lighting market for the period 2015-2019. The report provides the market share of LEDs used in various lighting applications such as general lighting, automotive lighting, and backlighting in 2014. To calculate and forecast the market size from 2014 to 2019, the report considers the revenue generated from the sales of LEDs across all application segments. The report includes the market share of various application segments under the category of General Lighting and forecasts the share of each segment for the period 2015-2019. The report consists of a detailed study of the market based on geographical segmentation and key leading countries. In addition, the report discusses the major drivers that influence the growth of the market. It also outlines the challenges faced by the vendors and the market at large, as well as the key trends that are emerging in the market.
TechNavio's report, Global LED Lighting Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Global LED Lighting market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
TechNavio Announces the Publication of its Research Report – Global LED Lighting Market 2015-2019
TechNavio recognizes the following companies as the key players in the Global LED Lighting Market: Cree Inc., GE Lighting LLC, Nichia Corporation, OSRAM SYLVANIA Inc. and Philips Lumileds Lighting Company LLC
Other Prominent Vendors in the market are: Acuity Brands Lighting, ATG Electronics, China Electric, Epistar, Everlight, LED Microsensor, LG Innotek, Lighting Science Group, Panasonic, QD Vision, Samsung LED, Seoul Semiconductor, Toshiba Lighting Technology, Toyoda Gosei and Utech LED.
Commenting on the report, an analyst from TechNavio’s team said: “The increasing penetration of LEDs in the Lighting market is one of the key trends being witnessed the market. The ability of LEDs to provide high-quality and energy-efficient light compared to other existing lighting technologies has accelerated the demand for LEDs worldwide. LEDs ease energy consumption level to a great degree and help reduce the energy output of multiple nuclear reactors across geographies.”
According to the report, the rapid decrease in LED prices in recent years has accelerated the demand for LED devices in the market. This decrease stems from the massive R&D investment in LED chips and packages in China, which has resulted in increased brightness of LED chips and packages. This has triggered demand for low-priced LED chips and packages in the General LED Lighting segment.
Further, the report states that market vendors are facing intense competition; therefore, they are trying to differentiate their products in terms of features including light quality. High installation costs could lead to an increase in the price of LED lighting in various applications.
Cree, GE Lighting, Nichia , Osram Sylvania, Philips Lumileds Lighting , Acuity Brands Lighting, ATG Electronics, China Electric, Epistar, Everlight, LED Microsensor NT, LG Innotek, Lighting Science Group, Panasonic, QD Vision, Samsung LED, SeoulSemiconductor, Toshiba Lighting Technology, Toyoda Gosei, Utech LED
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