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Industrial and Commercial LED Lighting Market : What We Want to See in 2025

06-10-2019 06:57 PM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Industrial and Commercial LED Lighting Market : What We Want

High demand for cost-effective and energy-saving LED lighting, increased need for replacement of old, traditional lighting, and government campaign toward LED adoption are the major drivers of the global industrial and commercial LED lighting Market. However, voltage sensitivity & temperature dependence of LED lighting hampers market growth. On the contrary, increase in adoption of smart lighting is expected to create lucrative opportunities in the near future.

Global industrial and commercial LED lighting market is divided on the basis of product, application, end user, and geography. The product segment is divided into LED lamps and LED fixture. The LED lamps segment held the largest share in 2017, contributing more than half of the market, owing to an increase in government campaign toward LED adoption. However, the LED fixture segment is expected to manifest the fastest CAGR of 22.1% during the forecast period.

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Based on application, the market is divided into indoor lighting and outdoor lighting. In 2017, the segment accounted for the largest share, contributing about three-fourths of the total market, owing to benefits such as less power consumption and enhanced light versatility. However, the outdoor lighting segment is projected to manifest the fastest CAGR of 21.4% during the study period, owing to rise in need for longer service life of light panel/bulbs along with brighter light in outdoor applications.

On the basis of end user, the market is bifurcated into industrial and commercial. The industrial segment held the largest share in 2017, accounted for nearly two-thirds of the total market. However, the industrial segment is estimated to portray the fastest CAGR of 20.7% during the forecast period.

Based on geography, the market is divided into North America, Asia-Pacific, Europe, and LAMEA. The market in the Asia-Pacific region held the largest share in 2017, contributing more than one-third of the total market, owing to increased adoption of smart devices in the region. However, the LAMEA region is expected to register the fastest CAGR of 21.5% during the forecast period, owing to high adoption rate of advanced systems and solutions in various industry verticals.

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The report includes analysis on the major market players in the region such as Cree Inc., Eaton Corporation, Dialight PLC, Deco Enterprises, Inc., General Electric Company, Osram Licht AG, Toshiba Corporation, Koninklijke Philips N.V., Syska, and Zumtobel Group AG.

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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- & medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies client’s insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.

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