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Global LED Lighting Market: Snapshot

Growing inclination among worldwide population toward the use of energy-efficient LEDs is estimated to boost the demand opportunities in the global LED lighting market during the assessment period of 2020 to 2030.

LED refers to light-emitting diode. LED lighting products are known for generating light around 90% more proficiently than other light bulbs including incandescent and fluorescent lights. Approximately 95% of the energy in LEDs is converted into light and just 5% is wasted in the form of heat. Owing to this factor, major population across the globe is inclined toward the use of more efficient lighting option, LED lighting.

TMR’s upcoming research report on the LED lighting market delivers important data on growth opportunities, drivers, restraints, and challenges in this market. Apart from this, the study provides dependable data on shares, revenues, and volume of the market for LED lighting. Thus, the report works as a helpful tool to gain important insights of the LED lighting market for 2020–2030.

The study performs segmentation of the global LED lighting market based on several key factors including product type, application, distribution channel, and region. Based on product type, the market for LED lighting is bifurcated into lamps and lumanaires.

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Global LED Lighting Market: Growth Dynamics

The global LED lighting market is gaining promising growth avenues on the back of plethora of applications of products in it. LED lighting is used in various indoor applications such as industrial, commercial, residential, and government purposes. Apart from this, they are increasingly used in numerous outdoor places such as highways, roadways, public places, and for agricultural activities. All these applications are indicative of promising demand opportunities for vendors operating in the global LED lighting market.

At present, around 18–40% of electricity is utilized in commercial premises and 10% of electricity used in households. Thus, with increased number of households as well as commercial premises across the globe is predicted to intensify the requirement of energy saving. Growing adoption of energy-efficient lighting can help in decreasing the global electricity demand for lighting by approximately 30–40% in 2030.

Global LED Lighting Market: Competitive Analysis

The global LED lighting market experiences existence of numerous international-level players. As a result, the competitive landscape of the market for LED lighting is highly intense. To sustain in this scenario, the enterprises operating in this market are using diverse organic as well as inorganic strategies.

Major vendors in the market for LED lighting are focused on strengthening their customer base. To achieve this aim, they are offering superior quality products. Apart from this, many industry leaders are concentrating on their regional expansion. As a result, they are increasing interest in collaborations, mergers, acquisitions, joint ventures, and partnership agreements. All these activities are supporting in the rapid expansion of the global LED lighting market.

The list of key players in the global LED lighting market includes:

  • Dialight PLC
  • Heliospectra AB
  • General Electric Company (Savant Systems Inc.)
  • Eaton Corporation
  • OSRAM GmbH

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Global LED Lighting Market: Regional Assessment

On regional front, the LED lighting market shows presence in many regions including Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Among all geographical regions, Latin America is estimated to gain leading position in the market for LED lighting during the assessment period of 2020 to 2030. This growth is attributed to increased urban population, thereby growing demand for energy-efficient options in the region.

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
  • Europe
  • 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.

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Led Lighting Market