LED Indicator Lamps Market: Overview
The world has been moving towards automation rapidly. Indicator lamps are a crucial part of any automation process. They are generally used for notification of onset and termination of a process. They can also be used for indication of any intermediate process or flash warnings. To make this process energy efficient, these days in most places LED indicator lamps are used. A light-emanating diode (LED) is a semiconductor device that transmits visible light when an electric current goes through it. The light is not especially bright, but rather in many LEDs it is monochromatic, happening at a single wavelength. The yield from a LED can go from red (at a wavelength of around 700 nanometers) to blue-violet (around 400 nanometers). A few LEDs produce infrared (IR) vitality (830 nanometers or more); such a gadget is known as an infrared-transmitting diode (IRED). A LED or IRED comprises of two components of prepared material called P-type semiconductors and N-type semiconductors. These components when I direct contact form a P-N intersection. LED indicator lamps are preferred over other indicator because it has low power consumption, longer life, high efficiency, resistance to shock and vibration and cool operation. LED indicator lamps have some disadvantages, majorly, Moderate viewing angle, higher initial cost and the leakage current can cause lamp to stay ON. LEDs do undergo a progressive abatement in yield as they age. Manufacturer consider such lights to have achieved the finish of their helpful lives when the brilliance tumbles to half of its original value. It is by and large acknowledged that the human eye will just notice a diminishment in brilliance after half.
LED Indicator Lamps Market: Dynamics
The key factors driving LED Indicator Lamps Market are growing automation and industrialization. The benefits offered by LED over other illumination sources are further driving the market rapidly. The energy efficiency aspect of led indicator lamp also promotes its growth.
LED Indicator Lamps Market is restrained by high initial purchasing costs.
LED Indicator Lamps Market: Segmentation
The Global LED Indicator Lamps Market is segmented by Product Type, Operating voltage and mode of operation.
The Global LED Indicator Lamps Market is segmented by Product Type as
- Two- state
- Bar graph
- Alpha numeric readout
The Global LED Indicator Lamps Market is segmented by Operating Voltage as
- 2 volts
- 6 volts
- 12 volts
- 24 volts
- More than 24 volts
The Global LED Indicator Lamps Market is segmented by mode of operation as
- Direct current operation
- Alternating current operation
LED Indicator Lamps Market: Regional Outlook
Geographically, the Global LED Indicator Lamps Market is designed for seven regions namely, North-America, Western Europe, Asia Pacific except Japan (APEJ), Eastern Europe, Latin America, the Middle East & Africa and Japan. Currently Asia-Pacific holds the largest market share in the global LED Indicator Lamps Market more than 35%. China is the largest producer of LED indicator lamps in the world closely followed by Japan, North America and Europe.
LED Indicator Lamps Market: Key players
Some of the key players in the global LED Indicator Lamps Market are
- Allied Electronics, Inc.
- Marl International Limited
- Dialight plc
- Visual Communications Company, LLC (VCC)
- New Yorker Electronics
- JKL Components Corporation
- EAO AG
- Signal-Construct Elektro-optische-Anzeigen und Systeme GmbH
- Omron Corporation
- Lumex Inc.
- Honeywell International Inc.
- RS Components Ltd.
LED Indicator Lamps Market: Competitive Analysis
Key manufacturers LED Indicator Lamps are focusing in product development including enabling wider industrial applications with the help of their R&D department. A new 14 mm Mount CL Series Panel LED for industrial and outdoor applications has been unveiled by New Yorker Electronics.The CL Series incorporates a 10 mm LED available in red, green, yellow, blue and bicolor options. Factory prewired with internal resistors, the indicators can be configured for voltages up to 60 VDC or 120/240 VAC. The LED Indicator Lamps Market is likely to witness further more technological developments which will trigger the market growth during the forecast period.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.