Press release
Global LED Lighting Market Gains Impetus from Increasing Demand of LED TVs
This 54-page market study, with the help of 7 tables and 34 figures, presents an in-depth analysis of the worldwide LED lighting market, studying various market factors such as the production capacity, pricing, the demand and supply dynamics, and the growth rate of this market during the forecast period.
According to the research study, the global LED lighting market has gained significant impetus from the growing demand for LED TVs, the increasing penetration of LED bulbs, rising installation of metal-organic chemical vapor deposition (MOCVD), and the augmenting focus on energy and fuel efficiency. This market has also benefited from the various characteristics of LED lights such as long life, eco-friendliness, zero UV emission, low voltage consumption, design flexibility, and durability.
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Analysts expect this market to report tremendous rise during the forecast period, owing to the rapid expansion of the automotive industry. However, the high costs associated with the research and development, as well as raw materials, are likely to restrict this market from growing smoothly over the forecast period, states the market study.
The research report has analyzed the global LED lighting market on the basis of the application and the regional distribution of this market. Based on the application, the market has been classified into lighting, automotive lighting, signage, backlighting, and others.
On the regional front, the worldwide market for LED lighting has been segmented into North America, Europe, and Asia Pacific. China and India have been identified as the biggest LED lighting markets in Asia Pacific in this market study.
The research report also examines the competitive landscape of the global market for LED lighting by assessing the company profiles of major enterprises operating in this market on the basis of their financial status and future prospects.
As per the study, Cree Inc., Osram, and Philips are leading the worldwide LED lighting market at present. However, these players are facing a tough competition from small enterprises and startups, on account of the disparity in the product prices.
The main objective of this research study is to provide a clear picture of the global market for LED lighting to players, stakeholders, and consultants, functioning as well as those looking to venture into this market and attempts to assist them in making significant strategies for the further expansion of their businesses.
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