TechNavio recognizes the following companies as the key players in the Global LED 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 team said: “The use of LEDs in the Lighting market has emerged as a major trend in the Global Lighting market in recent years. The ability of LEDs to provide high-quality and energy-efficient light over other existing lighting technologies has accelerated the demand for LEDs. LEDs could decrease the energy consumption level to such a degree that the energy output of a multiple nuclear reactor could be saved across geographies. The increasing penetration of LEDs in the Lighting market is mainly attributed to the aggressive decline in the price of LEDs in recent years, which has accelerated the use of LEDs in numerous applications. ”
According to the report, one of the main drivers is the declining ASP of LEDs. The rapid decrease in LED prices has led to the broad adoption of LEDs in lighting applications, as LEDs have become the most flexible technology that can use lighting control systems more effectively which ultimately increases the potential for savings.
Further, the report states that one of the major challenges is the global economic fluctuations. Europe’s ongoing debt crisis has had a spillover effect on the global economy, which has negatively affected the demand for energy-efficient products such as LEDs.
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/report/global-led-lighting-market-2012-2016
TechNavio, the market research platform of Infiniti Research Ltd., publishes periodic market research reports on niche and emerging technologies. For more information on our market research, please visit https://www.technavio.com/it-hardware-software-services
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TechNavio Announces the Publication of its Research Report -Global LED Lighting Market 2012-2016
