About Light-emitting Diode (LED)
LEDs are integral components of semiconductor devices and emit light by means of electro-luminescence. LED lighting products are bundled arrangements of LEDs that provide durable, affordable, and eco-friendly lighting systems. These products do not emit carbon dioxide, making them eco-friendly. Compared with incandescent bulbs, they consume 80% less energy, making them increasingly energy-efficient and affordable for consumers.
Technavio’s analysts forecast the global light-emitting diode (LED) market to grow at a CAGR of 18.46% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global light-emitting diode (LED) market for 2017-2021. 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 Light-emitting Diode (LED) Market 2017-2021
Technavio recognizes the following companies as the key players in the global light-emitting diode (LED) market: Cree, GE Lighting, LG Innotek, NICHIA, OSRAM, Philips Lighting, and Samsung Electronics.
Other Prominent Vendors in the market are: Dialight, Eaton, Emerson, Everlight Electronics, Lite-On, MLS (Forest Lighting), Seoul Semiconductor, and TOYODA GOSEI.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increase in urban population worldwide. An important factor contributing to the increasing demand for energy-efficient lighting devices in households is the rising global urban population. Rapid urbanization in the emerging economies, such as the BRICS nations, has led to a rise in living standards of the population. This urban population is well aware of these energy-efficient lighting products.”
According to the report, one driver in the market is favorable policy environment and governmental support. The rapid depletion of natural resources and global warming have generated an indispensable need for energy conservation across the globe. In 2016, lighting applications were estimated to account for more than 20% of global energy consumption. There is an immediate need to reduce this energy consumption, and governments across the globe are focusing on the implementation of favorable policies to promote the use of energy-efficient lighting products. Governments across the globe, those of the established economies like US and UK and emerging economies like China and India, are engaging in the promotion of LED lighting products by providing tax incentives and subsidies on these products.
Further, the report states that one challenge in the market is lack of standardization. Despite the favorable government policy framework for LED lighting across the globe, the specifications for LED lighting differs from country to country. Currently, there is no single standard or set of guidelines for LED lighting that is applicable worldwide. This lack of standardization in the global market generates barriers for international vendors as they need to establish compliance with different standards based on different regions. There is also a lack of industry-wide dimming standards for LED lightings. This can adversely affect the adoption rate of LED lighting products.
Cree, GE Lighting, LG Innotek, NICHIA, OSRAM, Philips Lighting, Samsung Electronics, Dialight, Eaton, Emerson, Everlight Electronics, Lite-On, MLS (Forest Lighting), Seoul Semiconductor, and TOYODA GOSEI.
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