LONDON--(BUSINESS WIRE)--According to the latest market research report released by Technavio, the global LED market is expected to accelerate at a CAGR of almost 16% during the forecast period. The declining manufacturing cost of LEDs is one of the key factors triggering the growth of the market.
This research report titled ‘Global LED Market 2018-2022’ provides an in-depth analysis of the market in terms of revenue and emerging market trends. It also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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The market research analysis categorizes the global LED market into the following products:
In 2017, the luminaries segment accounted for more than 75% share of the global market and is projected to decline to 73% by 2022, exhibiting almost 2% decrease in market share. This decline is due to the increasing use of lamps in the industrial setup.
Global LED market: Top emerging trend
The growing number of households and urbanization is an emerging trend in the LED market. The rise in urbanization is driving the installation of new lamps and LED luminaires, which, in turn, will lead to an increase in unit shipments and thereby boosting the demand for LED products. The LED market in China is expected to witness a high growth due to the swelling demand for luxury homes and high-end residential societies, which is expected to accelerate the demand for LED lamps and luminaries. Besides China, Southeast Asian countries such as Singapore, Malaysia, and Thailand are also observing a high demand for LED lighting, as the economies of these nations grow. All these factors are expected to boost the growth of the LED market during the forecast period.
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Technavio’s report provides expert market research on the following topics:
- Market Outline
- Global LED Market Overview
- Market Sizing and Forecasts
- Market Growth
- Market Drivers and Challenges
- Key Emerging Trends
Market Segmentation Analysis
- Regional comparison (APAC, Americas, and EMEA)
- Key leading countries (India and China)
- Market segmentation by product (luminaires and lamp)
- Market segmentation by application (general lighting, backlighting, and automotive lighting)
- Vendor classification
- Market positioning of vendors
- Competitive scenario
- Analysis of top vendors (OSRAM, Cree, GENERAL ELECTRIC, LG INNOTEK, and Lumileds Holding)
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