The Report Shades a Light on Future and Opportunities in the LED Industry.
The LED Market size was valued at $78.69 billion in 2020, and is projected to reach $192.68 billion by 2030, growing at a CAGR of 8.2% from 2021 to 2030 according to a new report by Allied Market Research. The report covers an analysis of the major impacting factors and top 10 investment pockets that influence the market growth and new opportunities in the future.
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The recent technological developments and rise in demand have an instrumental effect on the growth of the market. The LED Market report offers a comprehensive analysis of the market on the basis of various parameters including sales, sales analysis, market size, share, trends, and major driving factors. In addition, the report offers Porter’s five forces model, portfolio and financial analysis, and business overview of services and products. Such statistical tools provide a piece of vital information to recognizing lucrative opportunities in the industry.
The LED Lamps Segment Dominated the Market
By product, the LED lamps segment held the largest share in 2020, accounting for more than half of the global LED market. However, the LED fixtures segment is estimated to register the highest CAGR of 8.9% during the forecast period, due to their long-life rating and adoption for visual lighting.
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The TOP MARKET PLAYERS that are currently active in the industry: Cree, Inc., Everlight Electronics Co., Ltd., General Electric Company, LG Innotek Co., Ltd., Lumens Co., Ltd., Lumileds Holding B.V., Nichia Corporation, Koninklijke Philips N.V., Osram Licht AG, and Seoul Semiconductor Co. Ltd..
These companies have adopted various business strategies such as new product launches, mergers & acquisitions, partnerships, and collaborations to maintain market position.
The study provides an in-depth analysis of the dynamic driving and restraining factors, major challenges, and lucrative opportunities. Moreover, the study offers a SWOT analysis that helps understand the restraining and driving factors in the industry. The global LED Market report covers an overview of the market and outlines market definition and scope.
The drivers and opportunities aid in understanding the ever-changing industry trends and how companies can leverage such trends. On the other hand, the challenges and restraints included in the report aid in recognizing lucrative market investments. The global LED report offers a quantitative and qualitative analysis of the market. The qualitative study highlights the value chain analysis, pain point analysis, and key regulations.
The Outdoor Lighting Segment to Portray the Highest CAGR Through 2030
By application, the outdoor lighting segment is projected to manifest the highest CAGR of 9.3% from 2022 to 2031, due to rise in need for longer service life of light panel and bulbs in outdoor applications. However, the indoor lighting segment held the largest share in 2020, accounting for more than three-fourths of the global LED market, owing to flexible design, prolonged durability of LEDs, and energy efficiency.
Asia-Pacific, followed by Europe and North America, Held the Highest Share
By region, the global LED market across Asia-Pacific, followed by Europe and North America, dominated in 2020, accounting for nearly two-fifths of the market. In addition, the region is anticipated to showcase the highest CAGR of 9.4% during the forecast period, owing to rise in demand for low-power consumption lighting solutions.
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The report includes a detailed analysis of the impact of the Covid-19 pandemic on the market. The report covers consumer preferences, trends, and budget impact on the market because of the pandemic. The global LED Market is under the influence of technological advancements. The emergence of innovative technologies such as artificial intelligence (AI), cloud computing, big data, Electronics & semiconductors industries, Internet of Things (IoT), and cryptocurrency have a major impact on the global LED Market growth. The report helps recognize the role of such advanced technologies in LED Market growth.
Browse in-depth TOC on LED Market:
>> Pages: 170
>> Tables: 135
>> Charts: 56
Key Market Segments:
By Product
- LED Lamps
- LED Fixtures
By Applications
- Indoor Lighting
- Outdoor Lighting
By End User
- Commerical
- Residential
- Others
- Industrial
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By Region:
1) North America- (U.S., Canada, Mexico)
2) Europe- (Germany, UK, France, Spain, Italy, Rest of Europe)
3) Asia-Pacific- (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific)
4) LAMEA- (Brazil, Saudi Arabia, South Africa, Rest of LAMEA)
The analysis of segment and sub-segment is offered in graphical and tabular formats. This study is instrumental to understanding the highest revenue-generating and fasting growing segments of the LED Market, which is vital for making strategic investments.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “”Market Research Reports”” and “”Business Intelligence Solutions.”” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.