LED Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024
- Transparency Market Research
Global LED Market: Overview
Defined by energy efficiency and improved controllability, the advent of light-emitting diodes (LED) is considered revolutionary. By late 2014, LED lighting constituted a substantial share of the global lighting market. The trend is anticipated to continue through the report’s forecast period from 2016 to 2024.
A light emitting diode is defined as a two-lead semiconductor light source. Being a p-n junction diode, it emits light when activated. The recent developments introduced in LEDs allow them to be used in environmental lighting. LEDs have been witnessing surging demand worldwide due to the advantages they offer over incandescent light sources. These include lower energy consumption, improved physical robustness, longer lifetime, faster switching, and smaller size.
LEDs boast disparate characteristics. Thus, their applications are as diverse as aviation lighting, headlamps, automotive, general lighting, forensic, health care, advertising, signals and signage, lighted wallpapers, camera flashes, mobile devices, and electronic devices. LEDs have emerged as a powerful source for lighting; however, they remain somewhat more expensive and require more precise heat and electricity management than compact fluorescent lamps of similar output.
The report on light emitting diodes presents key insights into the growth trajectory exhibited by the LED market over the last few years. An in-depth study of the various economic, social, and commercial factors poised to impact the market over the forthcoming years makes a valuable inclusion in the report.
Global LED Market: Key Opportunities and Threats
The growing awareness among consumers about the benefits of the longer lifespan of LEDs has been leading to their widespread adoption. The market is also expected to gain impetus from the declining prices of LED lamps, their growing application in display back lighting, and the high efficacy offered by LED lamps.
In the initial days, the application of LED lighting was limited to certain specific purposes and had not entered the mainstream. The emergence of LED in general lighting applications also helped the market to gain momentum. Given its rapid proliferation, the market for LED lighting is soon expected to surpass the conventional market for CFL. However, the high initial cost of LEDs has been restricting their initial acceptance. Nevertheless, considering the longer lifespan of LED lamps, the overall cost incurred on these lamps is found to be lower than CFLs. This is a crucial factor driving the global LED market.
The market also has been gaining from the growing application of LED in display and digital signage or large screens. This, coupled with the falling prices of the technology, would positively influence the growth exhibited by the market during the forecast period. Various technologies are used in the manufacturing of LED products. Chips and components are basic materials used in the production of LED lamps.
Global LED Market: Vendor Landscape
Enterprises operating in the global LED market are strategically diverse, as they operate at various levels of the market’s value chain. Some of these enterprises focus only on manufacturing LED chips and components, while others are involved in the production of lamps and luminaries. Besides this, there are other companies that are engaged in the delivery and transportation of final products. The rising demand for LED in newer applications would also provide opportunities for the entry of new players in the market.
Key companies operating in the global LED market include Panasonic, LG, Samsung, and Philips.
This research report analyzes this market on the basis of its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter’s five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
Reasons for Buying this Report
- This report provides pin-point analysis for changing competitive dynamics
- It provides a forward looking perspective on different factors driving or restraining market growth
- It provides a six-year forecast assessed on the basis of how the market is predicted to grow
- It helps in understanding the key product segments and their future
- It provides pin point analysis of changing competition dynamics and keeps you ahead of competitors
- It helps in making informed business decisions by having complete insights of market and by making in-depth analysis of market segments
- It provides distinctive graphics and exemplified SWOT analysis of major market segments
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.
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