MarketResearchReports.Biz has announced addition of new report “Global LED Lighting Market: Trends & Opportunities (2016-2020)” to its database.
Albany, NY -- (SBWIRE) -- 03/24/2016 -- Scope of the Report
The report titled "Global LED Lighting Market: Trends & Opportunities (2016-2020)", provides an in-depth analysis of the global LED Lighting market with detailed analysis of market size and growth, market share and economic impact of the industry. The report also provides market size of the global lighting market and its segments.
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The report provides detailed regional analysis of North America, Europe and Asia-Pacific (China and India) for the LED lighting market. The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry.
Growth of the global lighting market and global LED lighting market has also been forecasted for the period 2016-2020, taking into consideration the previous growth patterns, the growth drivers and the current and future trends. The market for global LED lighting is facing a tough competition due to price wars and entry of small firms. Further, key players (Cree, Philips and Osram) of the global LED lighting market are also profiled with their financial information and respective business strategies.
Asia Pacific (China and India)
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The LED lighting can be segmented according to its application into lighting, backlighting, signage, automotive lighting and others. Some of the advantages of LED lights over the traditional light sources are long life, energy efficient, ecologically friendly, durable, zero UV emission, design flexibility, low voltage, etc.
Global LED Lighting market has increased at a significant annual growth rate in 2015 as compared to the preceding year and projections are made that the market would rise in the next five years i.e. 2016-2020 tremendously. The upsurge in the market was due to various factors such as rapid growth in the global automotive industry, increasing focus on fuel and energy efficiency, etc.
The major growth drivers for the LED lighting market are increasing shipment and penetration of LED TVs, growing automobile industry, increasing LED penetration, phasing out of incandescent bulbs in many countries, supportive government policies and focus on energy efficiency. Despite the market is governed by various growth drivers, there are certain challenges faced by the market such as temperature dependence, high initial costs of LED, high research and development costs, etc.
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