Global LED Services Market was valued US$ 42.53 Bn in 2019 and is expected to reach US$ 122.99 Bn by 2027, at a CAGR of 14.19% during a forecast period.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
The significant factors impacting the LED lighting market include increase in government focus on energy saving solutions, Growing display and large screen backlighting market. These are the factors that drive growth of the market. In addition, growth of smart lighting and high efficacy LED boost the growth of the LED market. However, these factors are anticipated to either drive or hamper the market growth during the forecast period.
Other significant aspects like growing infrastructural funds, reduction in average costs of LEDs, the rapid development of street lighting systems, and the positive government approach towards smart building ventures are anticipated to boost the demand of the LED services market in the future.
The indoor LED lighting segment held the largest share in 2016 and is expected to register a moderately lower growth rate from 2018 to 2025. High adoption of light emitting diodes as a substitute to florescent, HID, and incandescent lightings has covered the way for indoor lighting on a large scale.
Another important aspect driving the growth of global LED services market is huge investments from main market players for the progress of the new LED services. These new services and products are energy competent and cost-efficient that will be appropriate for a range of applications
The report also provides market attractiveness analysis for all the segments for all the geographies in the scope of study which identifies and compares segment’s market attractiveness on the basis of CAGR and market share index. The report also includes key industry developments that have taken place in the global LED services market over the past years. Porter’s Five Forces analysis is also included in the report for analyzing various factors affecting market growth.
Geographically, global LED services market in Europe is expected to account for a considerable market share due to the prohibition for importing and producing luminous lamps and the increasing supporting government venture. The Asia Pacific is also anticipated to be one of the most important contributors in the LED services market because of the huge construction rates, government investment for high-efficiency building lights, and substitute of existing outdoor infrastructure. The government in China is taking initiatives by giving enormous incentives to replace conventional streetlights with LEDs in order to systematize standardized quality solutions and commodities. In addition to this, the global LED services market in the Middle East & Africa is expected to grow in the coming years.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global LED Services Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Global LED Services Market.
Scope of Report Global LED Services Market
Global LED Services Market, By Product Type
• LED Lamps
• LED Fixtures
Global LED Services Market, By Device Configuration
• Pinned LED
• Chip on Board LED
• Surface-mounted LED
Global LED Services Market, By Technology
• Basic LED
• High Brightness LED
• Ultra Violet LED
Global LED Services Market, By End-user
Global LED Services Market, By Application
• General Lighting
• Signal & Signage
Global LED Services Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key Players Operating in Global LED Services Market
• Nichia Corporation
• Osram GmbH
• Lumileds Holding B.V.
• Seoul Semiconductor
• Samsung Electonics
• Everlight Electronics
• Cree Inc.
• LG Innotek
• Lumens Co.,Ltd.
• GE Lighting Solutions
• Koninklijke Philips Electronics N.V.
• Thorlux Lighting
• LEDVANCE GmbH
• Philips Lighting
• OPPLE Lighting Co., Ltd
• Reggiani Spa Illuminazione
• Bright Special Lighting S.A.
• Endo Lighting Corp.
• Global Light LLC.
• KKDC Co. Ltd.
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