Industrial and Commercial LED Lighting Market by Application (Indoor Lighting and Outdoor Lighting) and End User (Residential, Commercial, Transportation, Industrial, and Others) - Global Opportunity Analysis and Industry Forecast, 2017-2023
When an electric current is passed through an LED, light is emitted. An LED is a semiconductor device, with output ranging from blue-violet (about 400 nanometer (nm)) to red (about 700 nm).
Some LEDs are called infrared emitting diodes (IRED), emitting infrared (IR) energy, which is greater than or equal to 830 nm. An LED consists of two elements of processed material, namely, N-type semiconductors and P-type semiconductors, which are placed in direct contact to form a region called P-N junction.
Features such as higher efficiency, longer operating life, high reliability, less power consumption, and compact & robust nature over conventional lighting, and favorable government regulations fuel growth of the industrial and commercial LED lighting market. However, high initial cost, voltage sensitivity, and temperature dependence impede the market growth.
The industrial and commercial LED lighting market is segmented based on application, end user, and region. Based on application, it is bifurcated into indoor lighting and outdoor lighting.
The end user segment is divided into residential, commercial, transportation, industrial, and others. The regions considered in the study are North America, Europe, Asia-Pacific, and LAMEA.
Key players operating in the market are Eaton Corporation Plc., Cree Inc., DECO Enterprises, Inc., Dialight Plc., OSRAM Licht AG, General Electric Company, Koninklijke Philips N.V., Toshiba Corporation, Zumtobel Group AG, and IBM.
KEY BENEFITS FOR STAKEHOLDERS
- This study comprises analytical depiction of the global industrial & commercial LED lightings market with current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to gain a stronger coverage in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2017 to 2023 to highlight the financial competency of the market.
- Porter’s Five Forces analysis illustrates the potency of the buyers and suppliers.
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