TechNavio recognizes the following companies as the key players in the Global Lighting Market: Koninklijke Philips Electronics N.V. (Philips), OSRAM Sylvania Inc., General Electric Co., Zumtobel Lighting GmbH, and Panasonic Corp.
Commenting on the report, an analyst from TechNavio’s Hardware team said: ”The market is witnessing rapid advancements in lighting technologies. For instance, in the Residential sector, CFL, incandescent, and halogen lighting technologies are currently dominating the market in terms of revenue contribution. However, it is expected that LEDs will emerge as the major revenue contributor in the Residential sector during the forecast period. The technological transition in the market is trending toward product enhancements aimed at better efficiency and power-saving capabilities. These technological transitions in the market will also force vendors to be more responsive to the technological changes that customers need. Thus, rapid technological advancements are expected to have a positive influence on the growth of the Global Lighting market. ”
According to the report, one of the main drivers in this market is the increasing number of households with lighting requirements. The rise in the number of households is expected to increase the demand for new lighting source installations, thereby propelling the growth of the Global Lighting market during the forecast period. Thus, the Residential sector is a major revenue contributor in the market.
Further, the report states that one of the key challenges in this market is the stringent regulations by the governments in various countries which ban the use of incandescent lighting sources. The governments in many countries are increasingly adopting energy-efficient lighting technologies in order to reduce power consumption. As a result, sales of incandescent lamps will drastically reduce during the forecast period, thereby having a negative impact on the vendors and on market growth.
The report also includes a discussion of the other vendors operating in this market. The other vendors in the market are Bridgelux Inc., Cree Inc., Konica Minolta Holdings Inc., Lemnis Lighting B.V., Luminus Devices Inc., Lumiotec, Luxim Corp., Nichia Corp., Samsung Electronics Co. Ltd., SemiLEDs Corp., Seoul Semiconductor Co. Ltd., and Universal Display Corp.
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-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 Engineering market research, please visit https://www.technavio.com/hardware
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TechNavio Announces the Publication of its Research Report “ Global Lighting Market 2012-2016
