TechNavio recognizes the following companies as the key players in the Global LED Industrial Lighting Market: Cooper Industries plc, Cree Inc., Dialight plc, Emerson Electric Co., and Koninklijke Philips Electronics N.V.
Commenting on the report, an analyst from TechNavio’s Hardware team said: ”Globally, measures taken to control the usage and wastage of power have resulted in the adoption of LEDs for spotlight applications. Governments across the world are planning to replace street lights (that use halogen, incandescent, or fluorescent lamps) with LED lamps. Spotlight applications are common in stadiums, where heavy lighting systems are used; this is nowadays being replaced with LED lighting systems. Thus, the penetration of LEDs in spotlight applications is expected to account for considerable revenue in the Global LED Industrial Lighting market during the forecast period.”
According to the report, one of the key factors driving the market is the increasing demand for power-efficient lighting in industries worldwide. Increasing concerns over the depletion of non-renewable sources of power and the need to minimize power consumption with a high demand for lighting in general are driving the demand for LEDs.
Further, the report states that the introduction of advanced LED products that have relatively longer lifespans than incandescent bulbs and CFLs is hampering the aftermarket and replacement sales of LED lamps.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors. For further information on this report, please visit https://www.technavio.com/content/global-led-industrial-lighting-market-2…
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our Hardware market research, please visit https://www.technavio.com/hardware
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TechNavio Announces the Publication of its Research Report – Global LED Industrial Lighting Market 2012-2016
