and Outlook 2017-2022 | Share, Size, Growth, Industry Report | Page 2

REPORT DESCRIPTION
Global LED Market to Reach US$ 101 Billion by 2022
LEDs represent electronic components that can convert electric energy into light. They have today
gained prominence across all the regions on account of their potential advantages over other lighting
sources such as incandescent bulbs and CFLs. LEDs stay much cooler than incandescent lights,
reducing the risk of combustion or burns. As they are made with epoxy lenses, they are highly
resistant to breakage. Besides this, they are energy-efficient, long-lasting and easy to install.
With technological advancements, manufacturing efficiency and decline in the prices, the global
market for LEDs has witnessed a strong growth over a period of time. According to a new report by
Expert Market Research, the global LED market reached a value of US$ 53 Billion in 2016 and is further
expected to reach US$ 101 Billion by 2022. Owing to the growing environmental concerns and
increasing expenses on electricity generation, governments’ regulations have become more stringent,
encouraging the penetration of energy-efficient light sources like LED lights. Moreover, a rising
demand for LEDs in high-tech products such as flat TVs, digital cameras, smart phones and
automotives has also propelled the growth aspects of the LED market.