GLOBAL INDUSTRY INSIGHT: Industrial and Commercial LED Market Size, Share, Development, Growth and Demand Forecast to 2020
Global Industrial and Commercial LED Market Size, Share, Development, Growth and Demand Forecast to 2020
LED lights are widely used in variety of applications, which includes display and monitors, mobile devices, automotive lighting, signage, and others. According to Department of Energy (DOE), U.S., lighting accounts for about 20% of total commercial energy expenditure, in U.S. The International Energy Agency (IEA) has estimated that the global electricity spending for lighting can increase by 80% till 2030, if upgraded technologies are not implemented. The governments of progressive economies are supporting the adoption of LED lighting for the conservation of energy. With benefits, such as long life, energy efficiency, dimmable feature, better light quality, responsiveness, environment friendliness, and ability to operate in low temperatures, the demand of LED in commercial and industrial application is expected to witness a lucrative growth over the coming years. Explore
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https://www.psmarketresearch.com/market-analysis/industrial-and-commercial-led-market Based on the various product types, the global industrial and commercial LED market can be bifurcated, as packaged LED market, LED lamp market, and LED luminaire market. The packaged LED market can be further categorized, as LED display, mobile devices, automotive, signage, lighting, and others. LED lamp market on the other hand can be segmented, as reflector, MR-16, Linear fluorescent tubes (LFT), A-19 and decorative, and others. The LED Luminaire market can be categorized, as retail display, outdoor, off-grid, commercial, industrial, and others. Based on the various end users, the industrial and commercial LED market can be broadly categorized as industrial, commercial, outdoor, and architectural. The decreasing prices of LED and the advancement in technology have increased its acceptability, across several applications. LED lighting, in its early phases was mostly adopted due to features such as better efficiency, improved operation in cold environments, and enhanced controllability. The current upsurge in their adoption is mostly due to increasing demand for energy efficient lighting solutions. The current payback period of LED light is still 3 to 4 years in most of the application; however it is expected to shorten up to 2–4 years in the coming years, which is expected to generate new opportunities across several applications, where high initial cost of LED lighting is a significant hindrance in its acceptance. The commercial and industrial LED market has become highly competitive in terms of prices within a short time span of time. The major technology players such as Toshiba, Samsung and Sharp have entered in the industrial and commercial LED market to compete with the existing players including Cree, Lumileds, GE, and Osram. Moreover, the large government funding in developing countries of Asia-Pacific, such as China, India, Taiwan, Singapore and Malaysia has steered many small and regional level LED manufacturers, which has increased the competition in the industrial and commercial LED market.
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Global Industrial and Commercial LED Market Size, Share, Development, Growth and Demand Forecast to 2020
Among global regions, Asia-Pacific accounted for the fastest growing industrial and commercial LED market in 2014.The fast growth in this region is attributed to the government initiatives, and increasing consumer awareness. Among other countries, U.S. is the largest market for the industrial and commercial LED market globally. Germany, France, Italy, Spain, China, India, Japan, Brazil, UAE, South Korea, and Australia are other major regional markets for industrial and commercial LED. Browse related market research at: https://www.psmarketresearch.com/industry-report/semiconductor-andelectronics The major competitors in the global industrial and commercial LED market are Digital Lumens, Inc., Osram Licht AG, Dialight plc, GE Lighting Solutions, Zumtobel AG, Koninklijke Philips Electronics N.V., Cree, Inc., Cooper Industries plc, and Toshiba Corporation, About P&S Market Research P&S Market Research is a market research company, which offers market research and consulting services for various geographies around the globe. We provide market research reports, industry forecasting reports, business intelligence, and research based consulting services across different industry/business verticals. As one of the top growing market research agency, we’re keen upon providing market landscape and accurate forecasting. Our analysts and consultants are proficient with business intelligence and market analysis, through their interaction with leading companies of the concerned domain. We help our clients with B2B market research and assist them in identifying various windows of opportunity, and framing informed and customized business expansion strategies in different regions. Contact: Ms Somya Manager – Client Partner 347, 5th Ave. #1402 New York City, NY - 10016 Toll-free: +1-888-778-7886 (USA/Canada) Email: enquiry@psmarketresearch.com Web: https://www.psmarketresearch.com
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