LED lights are based on semiconductor modules and release less discharged heat as compared to fluorescent and incandescent products. LED lights are utilized across numerous end-user industries such as commercial, industrial, outdoor, and architectural.
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Profile ration of LED in applications such as traditional lightings has given a solid thrust to the lightings market. LED is anticipated to surpass the conventional compact fluorescent lamp (CFL) and cold cathode fluorescent lamp (CCFL) lighting market as it delivers high level of illumination, long life, high reliability, and high efficiency.
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In addition, LED lighting is a cost effective solution over conventional lighting applications such as CFL and CCFL.
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The global LED market is segmented by technology, namely: traditional LED, high brightness LED, organic LED, polymer LED, and ultra violet LED. The global LED market is further segmented by applications, into automotive, general lighting, display screen, backlight sources, forensic &research, and government.
Furthermore, the global LED market is also segmented on the basis of product types into low power product and high power product. Lastly, the global LED market is also segmented by installation type as new installation and retrofit.
Light Emitting Diode (LED)s Market Players:
OSRAM Light AG
Koninklijke Philips N.V.
Samsung Electronics Co., Ltd.
Seoul Semiconductors Co., Ltd.
Toyoda Gosei Co., Ltd.
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It is expected that the consumers will gain awareness regarding the aids of longer life of LED and ultimately would lead to a widespread adoption of LED lighting during the forecast period. Declining prices of LED lamps, growing display backlighting applications, longer life span and high efficacy of LED lamps are key factors propelling the global LED market.
LED lighting offers enormous prospects to save energy intake across residential, outdoor and architectural applications. Additionally, outdoor LED lighting is further gaining popularity for usage in tunnels, traffic lights, roadways, parking lots and garages.
Residential applications for LED lighting consists of lighting in kitchens, dining rooms, hallways, and bathrooms.
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