London, 02 January 2015: TechNavio, the independent tech-focused global research firm, has published a report on the LED Lighting Market in North America 2015-2019, which is expected to grow at a CAGR of 21.12 percent during the forecast period of 2014-2019.
The extensive lifespan of LEDs has led to their increased demand in the General Lighting and Automotive Lighting segments. For instance, in industrial applications it is important to deploy lighting solutions that can operate for a long period, and which can withstand industrial conditions without frequent maintenance. In the Automotive Lighting sector, the long lifespan of LEDs saves on maintenance costs and minimizes the inconvenience otherwise faced by vehicle owners. Also, LED lighting increases occupant safety as it is powerful and provides a constant lighting quality that allows illumination over long distances.
“As LED bulbs are easy to control in terms of brightness and intensity, the demand for them is increasing as a result of the growing demand for intelligent lighting systems across industries,” says Faisal Ghaus, Vice President of TechNavio.
“The benefits of LEDs such as low wattage, long lifespan, high efficiency, brightness, and energy-saving controls make them suitable for industrial customers.”
Key Market Drivers
- Adoption of ENERGY STAR Certifications
- Regulatory Actions and Policies on Energy Efficiency
- Long Lifespan of LEDs
- Increased Demand for Automotive LED Headlamps
Key Market Trends
- Increased Adoption of HB LEDs
- Shift to Large-diameter Sapphire Wafers
- Demand for Intelligent Lighting Systems
- Increased Adoption of Eco-friendly Lighting Solutions
Key Market Vendors
- Cree Inc.
- LG Innotek Co. Ltd.
- Nichia Corp.
- OSRAM Opto Semiconductors GmbH
- Philips Lumileds Lighting Co.
- Samsung LED Co. Ltd.
- Seoul Semiconductor Co. Ltd.
To define the market circumstances in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
