LED Lighting Market for Residential, Architectural and Outdoor Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 - 2022
Sarasota, FL -- (SBWIRE) -- 02/28/2019 -- LED Lighting Market for Residential, Architectural and Outdoor Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 - 2022
Global LED lighting market will reach USD 54.28 Billion by 2022, growing at a CAGR of 13% between 2017 and 2022.
The report analyzes and estimates LED lighting market on a global and regional level. The report offers past data of 2016 along with estimation from 2017 to 2022 based on revenue (USD Billion). Assessment of market dynamics offers a brief thought about the drivers and restraints for the LED lighting market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the LED lighting market on a global level.
The report gives a transparent view on the LED lighting market. We have included a detailed competitive scenario and portfolio of leading vendors operative in LED lighting market. To understand the competitive landscape in the LED lighting market, an analysis of Porter's Five Forces model for the LED lighting market has also been covered. The study also offers a market attractiveness analysis, wherein the application and regional segments are benchmarked based on their market size, growth rate and general attractiveness for LED lighting market.
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The study provides a crucial view on the LED lighting by segmenting the market based on application and regions. All the application segments of LED lighting market have been analyzed based on present and future trends and the market is estimated from 2016 to 2022. Residential, architectural and outdoor are the application segment for LED lighting market. The regional segmentation comprises the current and forecast demand for the Middle East & Africa, North America, Europe, Latin America and Asia Pacific for LED lightings market.
The competitive profiling of key players of LED lighting market includes the company overview and financial overview, a product offered by them which can help in assessing competition in the market, business strategies adopted by them and their recent developments. Key players included in the report are Cooper Industries Plc, Osram Opto, Digital Lumens, Inc., Cree Incorporation, Zumtobel AG, Toshiba Corporation, Philips Electronics N.V and GE lightings amongst others.
This report segments of global LED lighting market as follows:
LED Lighting Market: Application Segment Analysis
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LED Lighting Market: Regional Segment Analysis
The Middle East and Africa
Advantages Provided By LED Lights Over Fluorescent And Incandescent Lamps To Be The Major Factor Boosting The Growth Of LED Lighting Market
According to analysts at Zion Market Research, the advantages provided by LED lights over fluorescent and incandescent lamps is the major factor boosting the growth of LED lighting market. Apart from this, the higher brightness, energy efficiency, and longer life span of LED lights are some of the major factors that offer tremendous opportunities for LED lighting market in years to come. Incessant new product launch by players such as GE and Philips along with other players with innovative tech are drawing the customer all over the world. For example, in August 2017, Kenall rolled out 6-inch modular downlights, which were developed to perform competently for years and are suitable for pharmaceutical processing, tightly sealed, and compatible for military installations.
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On the other hand, the high production price is likely to have an adverse affect on LED lighting market. Nevertheless, display and screen backlighting market development are expected to unlock new doors for the demand of LED lighting market.
European And North American Regions Likely To Show Substantial Development In LED Lighting Market Due To Residential And Outdoor Application Sectors
Residential application sector ruled the LED lighting market and added up for more than 40% of LED lightening market share in 2016. Residential applications for LED lighting comprise lighting for bathrooms, dining rooms, kitchens, and hallways. Elevating employment of LED lighting for outdoor application such as parking lots, traffic lights, garages, roadways, and tunnels is likely to offer significant development opportunities to LED lightening market in years to come. The architectural application comprises both decorative as well as functional lighting. Decorative LEDs are employed to light up fountains, pools, statues, and gardens and thereby boosting LED lightning market. The functional application comprises building and landscaping facades.
Europe surfaced as ruling area for the LED lighting market in 2016 and added up for more than 31% of market share. European and North American regions are likely to show substantial development in residential and outdoor application sectors, boosting the LED lighting market. LED lighting market has huge development opportunity in the up-and-coming markets of Asia Pacific owing to tremendous requirement from residential application sector.
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