LED Market

The global led market 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%.

PORTLAND, OREGON, UNITED STATES, September 5, 2023/EINPresswire.com/ -- Allied Market Research published a report on the Global LED Market by Product (LED Lamps, LED Fixtures), by Applications (Indoor Lighting, Outdoor Lighting), by End User (Industrial, Commerical, Residential, Others): Global Opportunity Analysis and Industry Forecast, 2020-2030.

The research provides a clear picture of the market’s current needs and future prospects. The research study gives a 360-degree overview of the overall market environment by supplying details on the LED Market size and share analysis, market dynamics, segmental & regional analysis, top investment pockets, competition landscape and other factors for the projected forecast period.

The Research report presents a complete judgment of the LED Market trends, growth factors, consumption, production volume, CAGR value, attentive opinions, profit margin, price, and industry-validated market data. The report is a useful resource for businesses, investors, shareholders and new entrants to gain an in-depth understanding of the market and make informed decisions and settle on educated business choices based on their business goals. The analysis sheds insight on the global LED Market drivers, restraints, and opportunities

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Businesses can evaluate the Porter's Five Forces Analysis to determine the structure, level of competition, and industry's strengths and weaknesses. The report also contains information and statistics, tables and figures that are used in strategic planning for the company’s success. The report will be remarkable in its ability to provide worldwide investors with the information they need to make informed judgments about the market. Also, these research report provides accurate economic, global, and country-level predictions and analysis.

Research Methodology:

The research uses both primary and secondary research to assemble data on the various facets of the international LED Market. Using interviews or surveys, primary market research has been used to collect highly authenticated data from direct sources, such as consumers in a particular market. Secondary market research is a method for gathering information from previously released data that has been produced by international organizations, business groups, government and research institutions, and so on. The global LED Market report demonstrates information about the current and historical data of the market.

Competitive Analysis:

The competitive environment of the global LED Market is further examined in the report. It includes details about the key players in the market's strengths, product portfolio, LED market share and size analysis, operational results, and market positioning. It comprises the actions taken by the players to grow and expand their presence through agreements and entering new business sectors. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Some of the prominent players of the global LED Industry include 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..

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Segmentation Analysis:

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.

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.

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.

By Region:

1) North America (Canada, Mexico, and the United States)

2) Europe (France, Italy, Germany, Spain, the United Kingdom, and rest of Europe)

3) Asia-Pacific (Australia, Japan, South Korea, China, India, and rest of Asia-Pacific)

4) LAMEA (Africa, the Middle East, and Latin America)

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Key findings of the study

By product, in 2020, the LED lamps segment generated the highest revenue in the global LED market share.

In 2020, the indoor lighting sub segment garnered the highest revenue among the application segment.

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