Market World LED Lighting Market Application | Page 2

chain to enhance flexibility and reduce costs. LED manufacturers are expected to experience a major
setback in form of tough competition and commoditization. To tackle such situations, LED
companies are expected to bring out innovative commercial range of products, streamline product
development and influence global design investments more commendably.
Overall the LED lighting industry is anticipated to grow at a significant CAGR in the assessment
period. LED lighting industry is driven by factors such as rising usage in several applications such as
street lighting, automotive, mobiles, backlighting and signs and signals. Additionally, the increase in
use of LEDs for lighting is gaining traction in international market. Moreover, LED sales are expected
to grow by leaps and bounds in the forecast period. The market is anticipated to grow at a rapid
pace owing to extensive use in automotive and associated domain.
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LED lighting industry is segmented into basic LED, high brightness LED, ultraviolet LED, organic LED,
polymer LED, based on technology. Based on application, the LED lighting industry is segmented into
automotive, mobile device, general lighting, signal and signage, healthcare, forensic, academic and
research. Based on type, the LED lighting market is segmented into new installation and retrofit
installation. LED lighting industry is bifurcated into indoor lighting and outdoor lighting based on
end-use application. Based on product type, the LED industry is segmented into lamps & luminaires.
LED lighting industry geographically spans North America, Latin America, Europe, Asia-Pacific,
Middle-East & Africa. APAC regions such as China, Japan, India, and Singapore dominate the
international market owing to latest technology, favorable opportunities and large consumer pool.
European markets are anticipated to rise at a higher CAGR owing to extensive use in automotive,
residential and commercial domain.
North American market is anticipated to grow at a higher CAGR owing to production of eco-friendly
products and sustainable energy. Middle-East regions such as Saudi Arabia, Kuwait and Iran are
anticipated to grow during the forecast period due to modernization. African market is anticipated
to grow at a steady CAGR in the assessment period due to low number of industries and
modernization. The key players in the LED industry market include Zumbotel Group, Havells, Philips,
Syska, Osram Inc, General electric company, Cree Inc, Cooper industries, Virtual Extension Inc,
Dialight Plc, Sharp Corporation and Samsung Corporation.