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Industrial and Commercial Led Market Size, Share, Industry Trends, Demand and Growth by 2023
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The governments of progressive economies are supporting the adoption of LED lighting for the conservation of energy. With benefits, such as long life, energy efficiency, dimmable feature, better light quality, responsiveness, environment friendliness, and ability to operate in low temperatures, the demand of LED in commercial and industrial application is expected to witness a lucrative growth over the coming years.
Based on the various product types, the global industrial and commercial LED market can be bifurcated, as packaged LED market, LED lamp market, and LED luminaire market. The packaged LED market can be further categorized, as LED display, mobile devices, automotive, signage, lighting, and others. LED lamp market on the other hand can be segmented, as reflector, MR-16, Linear fluorescent tubes (LFT), A-19 and decorative, and others. The LED Luminaire market can be categorized, as retail display, outdoor, off-grid, commercial, industrial, and others.
Based on the various end users, the industrial and commercial LED market can be broadly categorized as industrial, commercial, outdoor, and architectural.
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The commercial and industrial LED market has become highly competitive in terms of prices within a short time span of time. The major technology players such as Toshiba, Samsung and Sharp have entered in the industrial and commercial LED market to compete with the existing players including Cree, Lumileds, GE, and Osram. Moreover, the large government funding in developing countries of Asia-Pacific, such as China, India, Taiwan, Singapore and Malaysia has steered many small and regional level LED manufacturers, which has increased the competition in the industrial and commercial LED market.
Among global regions, Asia-Pacific accounted for the fastest growing industrial and commercial LED market in 2014.The fast growth in this region is attributed to the government initiatives, and increasing consumer awareness. Among other countries, U.S. is the largest market for the industrial and commercial LED market globally. Germany, France, Italy, Spain, China, India, Japan, Brazil, UAE, South Korea, and Australia are other major regional markets for industrial and commercial LED.
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The major competitors in the global industrial and commercial LED market are Digital Lumens, Inc., Osram Licht AG, Dialight plc, GE Lighting Solutions, Zumtobel AG, Koninklijke Philips Electronics N.V., Cree, Inc., Cooper Industries plc, and Toshiba Corporation.
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