The new report by Expert Market Research titled, ‘Global LED Market Price, Trends, Growth, Report and Forecast 2020-2025′, gives an in-depth analysis of the global LED market, assessing the market based on its segments like lighting products, end-uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
- Market Overview (2015-2025)
- Historical CAGR (2015-2019): 38%
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The global LED market is driven by the low manufacturing cost of the LEDs. High rebate rates for corporate companies to adopt energy-efficient lighting systems is also aiding the market growth. Through the new innovation, the retail lighting segment is finding impetus for its growth, together with the price reduction of LEDs. With the introduction of cloud-based or smart lighting control systems to increase performance and workplace productivity and safety, the market is expected to be further enhanced in the forecast period. The adoption of green lighting products and control systems will accelerate market growth further.
Industry Definition and Major Segments
LED, also known as light emitting diode, is an electronic device that emits light upon the reception of electrical current. It further contributes to the improvement of the working environment as these lights are lightweight and have a long lifespan. They are also nearly ten times more energy-efficient than incandescent lights.
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Based on lighting products, the industry is segmented into:
- LED Lamps and Modules
- LED Fixtures
By end-use, the market is segmented into:
- Retail and Hospitality
The leading regional markets for LED are:
- North America
- Latin America
- Middle East and Africa
- Asia Pacific
The major trends defining the market in the forecast period include technological innovations, new products, price erosion of LEDs, adoption of loud-based or smart lighting control systems, business expansion, adoption of green lights, and increasing penetration of LED lights. Technological advancements will likely enhance the market growth by improving the efficiency of the lights. Further, the innovation of green lighting products is expected to revolutionize the market.
Key Market Players
The major players in the market are Nichia, Osram ((OTCMKTS: OSAGF)), Samsung Electronics (KRX: 005930), Everlight Electronics ((TPE: 2393)), LG Innotek, Epistar, Seoul Semiconductor, Cree, Lumileds, and Mulinsen, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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