LED Lighting Market To Reach CAGR of 16.61% By 2026 | Philips Lighting Holding B.V., Osram Licht AG, GE Lighting, LG Innotek, Cree, Cooper Industries, Seoul Semiconductor, Samsung Electronics and Lightning Optoelectronic

LED Lighting Market is estimated to be valued at over US$ 120 billion by 2025 and expected to witness a CAGR of 16.61% during the forecast period from 2017 to 2025, as highlighted in a report published by Coherent Market Insights.

LED Bulb Segment Holds the Highest Market Share

On the basis of product type, the LED bulb segment is expected to hold the largest market for LED lighting, as bulbs form the major light source and key component of an LED lighting system.

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Installation Services Segment Holds a Dominant Position

On the basis of service type, the installation segment is expected be the dominant segment in the market, owing to rising demand for energy-efficient light sources such as LED bulbs. The old generation lamps are installed with LED bulbs, as they consume less energy and have longer working life.

Commercial Segment is Expected to be the Fastest Growing Segment

Among end-users, the commercial segment is estimated to exhibit the highest growth rate during the forecast period (2017–2025), owing to increasing infrastructural activities globally, which in turn attracts high activity of commercial segment in transporting and other related works to LED bulb.

Outdoor LED Lighting System Accounted Major Market Share

On the basis of application, the outdoor segment held the highest position in 2016, with a market share of 31.5%. The major factor for expansion of outdoor LED lighting system is its increasing popularity and usage in roadways, traffic lights, tunnels, parking lots, garages, which is extensive as compared to residential applications. Residential applications for LED lighting include lighting for smart home, HDR 4K, and ultra-slim, curved, and high gamut display TVs.

Asia Pacific accounted for the largest market share

Asia Pacific held the largest share of the LED lighting market in 2016, and the market in Europe is projected to emerge as the second largest market by 2025. The relatively high standard of living and high disposable income among the populace in Europe, increases their inclination towards investments in smart homes with innovative LED lighting systems. Thus, augmenting growth of the LED lighting market in the region. Asia Pacific is growing at high pace due to rampant infrastructural renovation in emerging economies such as China and India.

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Competitive Landscape

Major players operating in the global LED light market include Philips Lighting Holding B.V., Osram Licht AG, GE Lighting, LG Innotek, Cree, Inc., Cooper Industries, Inc., Seoul Semiconductor, Samsung Electronics, and Lightning Optoelectronic.

About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

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This release was published on openPR.