Published Date : May 30, 2016
ALBANY, NY, May 30, 2016: MarketResearchReports.biz has added a new research report on the global LED market to its repository of research documents. The report, titled “Global LED Market 2016-2020,” projects the global LED market to expand at a CAGR of 15% during the period between 2016 and 2020. The report offers a comprehensive overview of the market and projects the size of the market on the basis of revenue generated from various application segments. The growth of the market has been analyzed across some of the major regions. The report further profiles some of the prominent players operating in the global LED market.
LED lights are being increasingly preferred over conventional incandescent lights and compact fluorescent lights due to their energy efficiency. Due to their energy-efficient features, LEDs are known as green lighting systems. LEDs consume about 75% less energy than other bulbs and have longer lifespan. An average LED light can work up to 60,000 hours compared to 1,500 hours of incandescent bulbs and 8,000 hours of CFL bulbs.
The report states that the growing need for energy conservation and focus on low electricity consumption have augmented the growth of the global LED market. Reduction in the price of LED components is expected to further fuel the market’s growth during the forecast horizon. The decline in demand for LED products for backlighting has reduced the prices of Ed chips and other LED components.
In terms of applications, the report segments the global LED market into automotive lighting, backlighting, and general lighting. The general lighting segment is anticipated to drive the demand from the market owing to increased installations of LEDs for street lighting and various government initiatives to encourage the usage of LED bulbs at subsidized rates.
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The report studies the global LED market across some of the key regions such as APAC, the Americas, and EMEA. Various micro- and macro-economic factors impacting the demand across each of the regional markets have been analyzed in the report. In APAC, the demand for LED lighting is anticipated to increase with countries such as Japan and India contributing significantly towards the growth of the market. The report compiles information about Japan’s 21st century Lighting Plan and India’s Smart Cities Mission. These government plans are expected to play an important role in the growth of the market in APAC.
Describing the competitive landscape, the report profiles some of the key players in the global LED market such as LG Innotek, Cree, GE Lighting, Nichia, Lumileds, Samsung Electronics, OSRAM, Seoul Semiconductor, Eaton, Dialight, Everlight Electronics, Emerson Electric, MLS Electronics, Lite-On, Toyoda Gosei, and Toshiba Lighting and Technology. The report further provides insightful information about the key players including their company overview, business overview, product portfolio, and recent developments.
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