“Global LED Lighting Market (2018-2022 Edition)“, provides an in-depth analysis of the global LED Lighting market with detailed analysis of market size and growth, market share and economic impact of the industry. The report also provides market size of the global lighting market and its segments.
The report provides detailed regional analysis of North America, US, Europe and Asia-Pacific (China and India) for the LED lighting market. The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry.
Growth of the global lighting market and global LED lighting market has also been forecasted for the period 2018-2022, taking into consideration the previous growth patterns, the growth drivers and the current and future trends. The market for global LED lighting is facing a tough competition due to price wars and entry of small firms. Further, key players (Cree, Philips and Osram) of the global LED lighting market are also profiled with their financial information and respective business strategies.
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LED or Light Emitting Diode is a semiconductor device which glows when electric current is passed through it. Earlier, LEDs were made from semiconductor material such as gallium arsenide and were produced in only a few colors (mainly red or green). Newer LEDs are made from synthetic materials such as p-phenylenevinyl and can produce light of any color. Light emitting diodes produce light by the movement of electrons between the two terminals of diode, which occur by a process called electroluminescence. In this process, the electron losses its energy and the amount of energy lost defines the color of light produced.
In 1907, the Englishman Henry Joseph Round discovered that inorganic materials can light up when an electric current is applied. In the same year, he published his discovery in the journal “Electrical World”. But it was in 1967, when the first red luminescence diode (type GaAsP), developed by American Nick Holonyak, entered the market. That first LED in the visible wavelength area marked the birth of the industrially-produced LED.
The LED lighting can be segmented according to its application into lighting, backlighting, signage, automotive lighting and others. Some of the advantages of LED lights over the traditional light sources are long life, energy efficient, ecologically friendly, durable, zero UV emission, design flexibility, low voltage, etc.
The major growth drivers for the LED lighting market are increasing shipment and penetration of LED TVs, growing automobile industry, increasing LED penetration, phasing out of incandescent bulbs in many countries, supportive government policies and focus on energy efficiency. Despite the market is governed by various growth drivers, there are certain challenges faced by the market such as temperature dependence, high initial costs of LED, high research and development costs, etc.
Ritesh Tiwari, Director