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Global LED Market 2018-2022 | Growing Number of Households and Rapid Urbanization to Boost Growth | Technavio

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The global LED market is expected to post a CAGR of nearly 16% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report

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Technavio has announced its latest market research report titled global LED market 2018-2022 (Graphic: Business Wire)

Technavio has announced its latest market research report titled global LED market 2018-2022 (Graphic: Business Wire)

With the decline in ASP of chips and components, the manufacturing cost of LEDs has declined significantly. This decline in manufacturing cost will be one of the major drivers in the global LED market. The installation of the LED lamps and fixtures across various application segments is also driven by the decrease in installation costs. Moreover, countries all around the world are concentrating on making investments in infrastructure development to meet the needs of the growing population. Governments of these countries are planning to install energy and cost-efficient lighting sources, which will boost the global LED market during the forecast period.

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As per Technavio, the rising number of households and rapid urbanization will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.

Global LED Market: Rising Number of Households and Rapid Urbanization

The increasing demand for luxury homes and high-end residential societies is expected to accelerate the need for LED lamps and luminaires. Rapid urbanization is driving governments of various countries to invest in large-scale urban infrastructure projects. This will lead to increased investments in the installation of energy-efficient lighting sources such as LED lamps and luminaires to reduce electricity consumption and thus conserve resources. All these factors are expected to lead to the growth of the global LED market during the forecast period.

“The increasing traction of intelligent lighting systems and the new government policies for smart lighting are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.

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Global LED Market: Segmentation Analysis

This market research report segments the global LED market by application (general lighting, backlighting, automotive lighting, and others) and geographical regions (Americas, APAC, and EMEA).

The APAC region led the market share in 2018, followed by Americas, and EMEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to the increased adoption of LEDs in emerging economies including India and China coupled with the high concentration of consumer electronics manufacturers and the favorable regulatory environment in the region.

Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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