The LED market comprises of LED based products that find application in lighting, displays, automotive, backlighting, signals and others. The price of the technology is the very important factor in any market. Decreasing prices of LED lamps is one of the major factors impacting the global LED market.
Government bodies such as local government and municipal utilities and states provide rebates for promoting installation of renewable energy systems and energy efficiency measures. These programs provide funding for energy saving solutions such as bulbs, solar water heating and photovoltaic (PV) systems.
Utility companies are also providing various rebates to their commercial and industrial customers for helping them cope with future energy cost increases provide significant energy and economic benefits to the utility system and ratepayers and reduce greenhouse gases. Therefore, this will drive the demand for the LED market.
Increase in government focus on energy saving solutions, increase in utility rebates, and Growing display and large screen backlighting market majorly drive the market. Despite such advantages, high initial cost tends to impede the growth of this market.
In the near future, growth of smart lighting and high efficacy LED are factors expected to create lucrative opportunities for the key players operating in the LED market.
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The LED market is segmented based on product type, device configuration, technology, end-user, application, and region. Based on product type, it is categorized into LED Lamps, LED Fixtures, based on device configuration, it can be categorized as Pinned LED, Chip on Board LED, Surface-mounted LED and Others.
The technology segment is further segmented into basic LED, high brightness LED, OLED, Ultra Violet LED and polymer. The end-user segment is divided into residential, commercial, industrial, outdoor and architectural.
The application segment is divided into automotive, general lighting, backlighting, signal & signage and others. Based on region, the market is analyzed across North America, Asia Pacific, Europe, and LAMEA.
- This study comprises analytical depiction of the global LED 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 2024 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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KEY MARKET SEGMENTS
By Product Type
- LED Lamps
- LED Fixtures
By Device Configuration
- Pinned LED
- Chip on Board LED
- Surface-mounted LED
- Basic LED
- High Brightness LED
- Ultra Violet LED
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- General Lighting
- Signal & Signage
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
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