LED Market Globally Grow at a CAGR of 15% by Revenue During the Forecast Period 2017-2020

Albany, NY, 7th FEB :

LED lights are rapidly gaining traction among consumers due to their multiple benefits. They are preferred over other lights such as incandescent lights and compact fluorescent lights (CFLs), because of their energy efficiency. LEDs consume up to 75% less energy than other bulbs and have longer lifespans 60,000 hours compared to 1,500 hours from incandescent bulbs and 8,000 hours from CFLs. LEDs are also known as green lighting systems because of their energy-efficient features.
The energy efficiency of LED lights is driving growth in the global LED market. In addition, the need for low electricity consumption and growing awareness of green technology have made manufacturers focus on energy-efficient and eco-friendly lights. Governments are also taking up multiple projects and providing subsidies in order to promote LED lights.

Technavios analysts forecast the Global LED Market to grow at a CAGR of 15% during the period 2016-2020.

Covered :
The report covers the present scenario and the growth prospects of the Global LED Market for 2016-2020. The market size is calculated on the basis of revenue generated from four segments: general lighting, backlighting, automotive lighting, and others.

Segments based on geography:
Americas
APAC
EMEA

Technavio's report, Global LED Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

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Key vendors
Cree
GE Lighting
LG Innotek
Lumileds
Nichia
OSRAM
Samsung Electronics
Seoul Semiconductor

Other prominent vendors
Dialight
Eaton
Emerson Electric
Everlight Electronics
Lite-On
MLS Electronics
Toshiba Lighting and Technology
Toyoda Gosei

Key driver
Need for low electricity consumption
For a full, detailed list, view our report

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Key challenge
Introduction of flip chip LEDs
For a full, detailed list, view our report

Key trend
Reduction in price of LED components
For a full, detailed list, view our report

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