Latest Market Report - Global LED Strips Market Size, Industry Trends, Share, Growth, Opportunity and Forecast 2023-2030

The global LED strips market is expected to reach US$ 1,228.6 million by 2030, with an annual growth rate of more than 8.1%.

According to RationalStat's recent industry analysis, Global LED Strips Market value is estimated at US$ 714.3 million in 2023 and is expected to rise at a strong CAGR of over 8.1% over the forecast period of 2023-2030.

Market Definition, Market Scope, and Report Overview

LED strips, also known as LED tape or LED ribbon, are flexible circuit boards populated with light-emitting diodes (LEDs) that emit light when an electric current passes through them. These strips are versatile and come in various lengths, colors, and levels of brightness. LED strips are commonly used for decorative and accent lighting in both residential and commercial applications.
LED strips are typically designed for easy installation. Many come with self-adhesive backing, simplifying the process of attaching them to surfaces. This ease of installation makes them accessible to a wide range of consumers, including those who may not have extensive technical knowledge.
According to a deep-dive market assessment by RationalStat, the global LED Strips market has been analyzed on the basis of market segments, including type, voltage, application, and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.

• Market intelligence for the global LED Strips market covers market sizes on the basis of market value (US$/EUR Million), volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.

• In addition, the long-term sector and products/services 10-year outlook and its implications on the global LED Strips market. It also includes the industry's current state - Production levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.

Request A Customization- https://store.rationalstat.com/store/global-led-strips-market/#tab-ux_global_tab

Global LED Strips Market: Segmental and Market Share Analysis

• On the basis of voltage, low voltage segment is expected to generate the dominant share compared to high voltage application.

• On the basis of application, residential segment is expected to be a major factor in the growth of the global LED strips market. Due to the high adoption of these lights in various sectors such as hotels, restaurants, bars etc.

Report Synopsis
Report Metrics Details
Base Year 2023
Forecast Period 2023-2030
Base Year Market Size US$ 714.3 million
Market Size Forecast US$ 1,228.6 million
Growth Rate 8.1%
Dominant Segment Low Voltage
Dominant Region Europe

Key Market Drivers
• Increased Longevity and Durability of LED Strips
• Rising Smart Home Technology and Internet of Things (IoT) Devices
• Advances in LED Technology Led to Improvement in Efficiency

Companies Profiled
• OML Technology
• Jiasheng Lighting
• OSRAM
• Philips
• Forge Europa Limited
• SIDON
• OPTEK
• NVC
• Opple Lighting
• JESCO Lighting
• LEDtronics Inc
• LEDVANCE

Explore more about this report- https://store.rationalstat.com/store/global-led-strips-market/#tab-ux_global_tab

Competition Analysis and Market Structure

Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players.

• In November 2023, Ikea launched its first smart LED strip. The Ormanäs RGB LED strip is HomeKit-compatible using the Ikea Dirigera smart hub, but
only in the Netherlands for now.

Some of the prominent players and suppliers operating and contributing significantly to the global LED Strips market growth include OML Technology, Jiasheng Lighting, OSRAM, Philips, Forge Europa Limited, SIDON, OPTEK, NVC, Opple Lighting, JESCO Lighting, LEDtronics Inc, and LEDVANCE, among others.

Get A Free Sample- https://store.rationalstat.com/store/global-led-strips-market/#tab-ux_global_tab

RationalStat has segmented the global LED Strips market based on type, voltage, application, and region
• Global LED Strips Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Type
o 3528
o 5050
• Global LED Strips Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Voltage
o Low
o High
• Global LED Strips Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Application
o Residential
o Commercial
• Global LED Strips Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Region
o North America LED Strips Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 US
 Canada
o Latin America LED Strips Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 Brazil
 Mexico
 Rest of Latin America
o Western Europe LED Strips Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 Germany
 UK
 France
 Spain
 Italy
 Benelux
 Nordic
 Rest of Western Europe
o Eastern Europe LED Strips Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 Russia
 Poland
 Hungary
 Other CIS Countries
 Rest of Eastern Europe
o Asia Pacific LED Strips Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 China
 Japan
 India
 South Korea
 Australia
 ASEAN
• Indonesia
• Thailand
• Philippines
• Vietnam
• Malaysia
• Rest of ASEAN
 Rest of Asia Pacific
o Middle East & Africa LED Strips Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
 GCC
• Saudi Arabia (KSA)
• United Arab Emirates (UAE)
• Rest of the GCC
 South Africa
 Nigeria
 Turkey
 Rest of the Middle East & Africa

For more information about this report- https://store.rationalstat.com/store/global-led-strips-market/

Key Questions Answered in the LED Strips Report:
• What will be the market value of the global LED Strips market by 2030?
• What is the market size of the global LED Strips market?
• What are the market drivers of the global LED Strips market?
• What are the key trends in the global LED Strips market?
• Which is the leading region in the global LED Strips market?
• What are the major companies operating in the global LED Strips market?
• What are the market shares by key segments in the global LED Strips market?
Running a year End discount of 20%- https://store.rationalstat.com/store/global-led-strips-market/#tab-ux_global_tab

Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts' viewpoint to create a research methodology for market sizing and forecasting.

RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
• Defining the problem by understanding the type of market and data required by the client.
• Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
• Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
• Evaluating and analyzing the data by referring to data sources utilized and leveraged.
• Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.

Download Key Insights and Market Data - Raise a Query
https://store.rationalstat.com/store/global-led-strips-market/#tab-ux_global_tab

RationalStat LLC
Kimberly Shaw,
Content and Press Manager
sales@rationalstat.com
US Phone: +1 302 803 5429
UK Phone: +44 203-287-1245
LinkedIn | Facebook | Twitter | Instagram | Pinterest

RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client's needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.

This release was published on openPR.