Global Architectural Led Products Market expand at a CAGR of 17.3% during the forecast period of 2017 to 2021 to reach a valuation of US$10,751.1 mn by 2021

Press Release – 09 Jan 2019
Research and Development News --
. .
Latest Update "Global Market Study on Architectural LED Products: Wall Washing & Cove Lighting Applications to Witness Fastest Growth in the Next Few Years" with Industries Survey | Global Current Growth and Future.
' '
A fresh business and commerce publication by Persistence Market Research has reiterated the faith in the global architectural LED products market, projecting the demand to expand at a CAGR of 17.3% during the forecast period of 2017 to 2021. However, while there are mushrooming opportunities in the architectural LED products market, the analysts of the report have also made aware that the vendor landscape is highly competitive. And to stay ahead of the curve, players will have to continuously improve their technology. For instance, Toshiba Lighting and Technology Corporation and GE Lighting LLC, who are among the pioneering companies of LED light bulb, are concentrating on developing smart LED lighting for smart homes, with energy efficiency at its backbone.

The trailblazer companies have realized the growing ubiquity of smartphones and exceptional possibilities of the Internet of Things (IoT) to attract new customers. Philips Lumileds Lighting Company, Cooper Industries PLC (Eaton Corporation), Osram Licht AG, Cree, Inc., Epistar Corporation, and Samsung Electronics Co. Ltd. are some of the other key companies currently functional in the global architectural LED products market.
. .
– Get Sample Report_ https://www.researchmoz.us/enquiry.php?type=S&repid=1834472
' '
“Evolution of the Architectural LED Products Market”

Since the first ever industrially-produced LED in the visible wavelength spectrum, developed by Nick Holonyak in 1962, the technology has evolved leaps and bounds in past few decades and now it is quite affordable for larger masses. LED lights offer efficient performance, long life span, and utilizes only a fraction of energy as compared to conventional incandescent bulbs. Additionally, LED lighting fixtures emit nearly 90% lesser heat than its predecessor and hence, the adoption is increasing.

The analysts of this business intelligence study have detected with the influx of Chinese manufacturers, the prices of LED products have decreased 25% and 20% in the years 2013 and 2014 respectively. And the pattern is expected to continue on the back of ongoing technological innovations. If the projections of this market research report are to be believed, the demand in the global architectural LED products market will expand at a CAGR of 17.3% during the forecast period of 2017 to 2021. Revenue-wise, the market is poised to reach a valuation of US$10,751.1 mn by 2021.
. .
– For Other Requirement and Enquiry_ https://www.researchmoz.us/enquiry.php?type=E&repid=1834472
' '
“Market Segmented Based on Product, Application, and Region”

Based on product type, the report has segmented the global architectural LED products market into solar and conventional, which is further sub-segmented into lamps and strip and linear. Application-wise, the market has been bifurcated into wall washing, in ground, cove lighting, backlight, and other applications. The market for architectural LED products has also been categorized on the basis of end user into residential and commercial, which is further divided into retail, banking, financial services, and insurance (BFSI), IT and telecommunication, healthcare, media and entertainment, and others. Geographically, Asia Pacific has been highlighted as the region with maximum potential, primed to contribute more than half of the overall demand in the global architectural LED products market.

“Decreasing Cost of Technology Driving Demand”

Growing emphasis on energy efficiency and decreasing cost of LED products on the back of technological advancements are the primary drivers of the architectural LED products market. LED products not only consume considerably less power but they have much longer lifespan than conventional incandescent bulbs. Additionally, it is also possible to size and shape LED products in a broader way their predecessors, which comes in very handy to meet diverse demands from decoration to depth. Government initiatives to promote products that offer higher energy efficiency in an increasing power-starved environment, increasing consumer inclination towards luxurious lifestyle, and uniformity in trade standards and treaties are some of the other factors expected to reflect positively on the market for architectural LED products market.

“Conventional Products Maintaining Strongest Demand”

On the basis of product type, the architectural LED products market has been segmented into solar products and conventional products, which has been further bifurcated into strips and linear and lamps. Among these, the conventional products segment currently provide for more than 90% of the overall demand and is expected to retain its dominance throughout the forecast period of 2017 to 2021. However, despite being costly in terms of installation, solar products are gaining traction as they are more in sync with global bid for energy conservation and offer long-term benefits. The demand for the solar products segment is primed to expand at a better growth rate than the conventional ones.

“Wall Washing to Remain Primary Application Segment Until 2021”

Based on application, the market for architectural LED products has been classified into cove lighting, wall washing, in-ground, and others. In 2017, the wall washing segment provided a revenue of US$2,234.7 mn in 2017 and is projected to be worth US$4,320.4 mn by the end of 2021. Cove lighting is the second most in-demand application segment, promising to generate a revenue of US$3,187.0 mn by 2021. The market has also been categorized on the basis of end users, into residential and commercial, which has been further divided into retail, media and entertainment, banking, financial services, and insurance (BFSI), IT and telecommunication, healthcare, and others.

Continue.....
– More Clear Details get Full Table of Contents_ https://www.researchmoz.us/global-market-study-on-architectural-led-products-wall-washing-and-cove-lighting-applications-to-witness-fastest-growth-in-the-next-few-years-report.html/toc

About Researchmoz,

ResearchMoz is the world’s fastest growing collection of market research reports worldwide. Our database is composed of current market studies from over 100 featured publishers worldwide. Our market research databases integrate statistics with analysis from global, regional, country and company perspectives. ResearchMoz’s service portfolio also includes value-added services such as market research customization, competitive landscaping, and in-depth surveys, delivered by a team of experienced Research Coordinators.

Researchmoz Global Pvt. Ltd.
90 State Street,
Albany, NY 12207,
United States,
www.researchmoz.us
Tel: 866-997-4948 (Us-Canada Toll Free),
Tel: +1-518-621-2074

This release was published on openPR.