LONDON--(BUSINESS WIRE)--Market research company Technavio has released new reports on the impact of LED on the lighting industry. The research firm expects the micro light-emitting diode (LED) market to register a CAGR of over 398% by 2023.
The increasing investments in MicroLEDs, rising number of patents being registered, and the integration of MicroLEDs in TVs have been identified as critical factors behind the exceptional growth of this market. Display and lighting are the two product segments in the micro light-emitting diode (LED) market.
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Few other reports from Technavio’s catalog on the global lighting market are:
The stadium lighting market is expected to grow by USD 255.84 million over the forecast period. The growing demand for sustainable stadium lighting is one of the major factors driving the growth of the global stadium lighting market. The increasing demand for sustainable stadium lighting solutions is attributed to the growing environmental concerns and stringent government regulations aimed at limiting carbon dioxide emissions. Initiatives such as the Green Power Partnership by the Environmental Protection Agency (EPA) are expected to boost the demand for sustainable stadium lighting. Brabourne Stadium and M. Chinnaswamy Stadium in India have already installed solar panels to power stadium lights and other electronic equipment. The rising environmental concern among end-users has driven market vendors to offer solar-powered stadium lights. Get Free Sample Report
The global chip-on-board (COB) LED market size is expected to grow by USD 1.73 billion over the forecast period. The growing adoption of COB LED in smart lighting, technological innovations, and increasing strategic partnerships and are identified as critical factors that are driving the growth of the COB LED market. Get Free Sample Report
The market size of the global organic light-emitting diode (OLED) market is expected to grow by USD 22.41 billion over the forecast period. The growth of the OLED market can be attributed to factors such as the increasing number of patent-related activities, growing demand from the automotive industry, and the increasing popularity of digital signage applications. Get Free Sample Report
Technavio’s Research analysts have published numerous reports focusing on the latest developments. Our continuously growing report library offers the latest insights on several reports in addition to the above-listed reports.
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