Global LED Lighting Market: Rising Popularity of Energy- Efficient Lighting System Enhances the Market Growth

LED Lighting Market

An LED light bulb is a solid-state lighting device that fits into standard screw-in connections but produces light using LEDs. It is a semiconductor device that has the ability to convert electricity into light. They are usually super energy efficient and are more environmental friendly. These LED lights are usually made of semiconductor material and are usually colorless. The LEDs were commonly used in numeric and alphanumeric dot matrix displays. They are widely used in applications such as LCD panel backlighting, fiber optic data transmission, remote control, indicator lights, and opto-isolator. These lights are smaller in size, are available in various colors such as red, orange, green and amber, and are high efficiently.

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Some of the factors responsible for the LED Lighting Market growth:

  • Increase demand for energy-efficient lighting systems: Today, many people are adopting energy efficient lighting system because they are environmental friendly and usually have long life. It is expected that they usually have long operational life. They are also considered to be more energy efficient as compared to the conventional light bulbs. LED lights do not contain toxic chemicals. Most standard fluorescent light bulbs contain a multitude of hazardous materials such as mercury. They also produce low infrared light and almost no UV emissions
  • High demand for LED from smart cities: LED lighting is facing high demand from the smart cities because of the several advantages offered by them. They provide different advantages such as are energy efficient, don’t get affected by cold temperatures, environment friendly, are controllable, provide outstanding rendering, and also requires no warm up time. They are also very safe because they emit no heat as compared to the conventional bulbs

The global LED lighting market is segmented into installation type, end-user, service, application, and product type. Based on installation type the market is segmented into new installation, and retrofit; end-use application is classified into indoor lighting and outdoor lighting .Indoor lighting is further sub segmented into residential, commercial sector, and industrial sector. Commercial sector is further sub segmented into office lighting, space malls, and hospitality. Outdoor lighting is further sub segmented into highway & roadway, architectural, public areas and others. The product type is segmented into lamps, luminaires.

Some of the launches and acquisition in the LED Lighting Market are:

  • In October 2019, Syska announced the launch of their new Mosguard LED which has the ability to act both as 15W LED bulb and mosquito repellent. It will be the part of the company LED lighting category. This is specially designed for the indoor purposes and is very useful as it can be installed in colleges, schools, and home. The main aim of the launch is to meet the rising demand of the customers
  • In October 2019, Koninklijke Philips N.V., announced the launch of their new Philips Smart Wi-Fi’ LED Bulb. This new bulb runs on Wi-Fi and can easily control Philips Smart lighting with a mobile app or voice assistants like Siri, Amazon Alexa, and Google Assistant. They usually work on WiZ technology platform. Bulb to the perfect white light shade, ranging from warm white to cool daylight to fit your everyday tasks

“According to Data Bridge Market Research, Global LED Lighting Market is set to witness a healthy CAGR of 18% in the forecast period of 2018- 2025”

Some of the major players operating in the global LED lighting market are Koninklijke Philips N.V.; GENERAL ELECTRIC; OSRAM GmbH.; Cree, Inc; Virtual Extension; Eaton; Dialight; Zumtobel Group AG; SAMSUNG; SHARP CORPORATION; Lumileds Holding B.V.; NICHIA CORPORATION; OSRAM Opto Semiconductors GmbH; Semiconductor Co., Ltd.; LG INNOTEK.; Syska; among others

Growing demand for LED lighting in smart cities and increasing popularity for energy- efficient lighting system will enhance the market growth. Increasing environment concern and affordable price of these LEDs will also accelerate the market growth. These are considered as some of the prominent factors which will affect the market positively and propel its demand.

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