LED Lighting Market is likely to reach US$ 100 Billion by 2024

“Global LED lighting market is likely to outperform and reach US$ 100 Billion Mark by the end of year 2024.”
Renub Research latest study report “Global LED Lighting Market & Forecast By Applications (Residential, Office, Retail/Shop, Hospitality, Industrial, Outdoor and Architectural) Regions (Europe, North America, Asia, Latin America, Middle East & Africa, BRIC) Companies (MLS Co Ltd., Philips Lighting, Osram, Cree Inc., Foshan Electrical & Light)” provides a detailed and comprehensive insight of the Global LED Lighting Market.

In the current outlook, the rapid adoption of LED lighting is going to change the complete picture of lighting industry. Many government across the developed and developing country are also building the LED infrastructure to save nation capital to the great extent. Moreover developing countries saved energy using LED lighting and further distribute it to the unprivileged area. Global LED lighting market is likely to outperform and reach US$ 100 Billion Mark by the end of year 2024.

LED Floodlighting Contributed in the Growth of Plants

LED floodlight is a cutting-edge technology and it has established its credibility for unique feature. So the design and feature of LED floodlight more than just feasibility and viability because it provides supplemental lighting for plants. It provides adequate light for the plants. It has color spectrum which provides sustainable growth for the plants. The red spectrum of light is mainly suitable for green and leafy growth whereas blue spectrum of light provide suitable accommodation for flowering and fruiting. Moreover many LED floodlight comes with combination of different spectrum of lights that provides complete accommodation for growing plants whether inside house or outside.


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Global Demand of LED Lighting in Residential Sector is growing due to rising Urbanization Rate

The increasing urbanization rate in Northern America, Latin America, Europe, Asia and Africa will propel the demand of LED lighting in residential complex and household. The gradual decline of manufacturing cost of LED lighting will further add the growth of overall LED lighting. LED lighting manufacturer and marketer are also focusing on niche section of residential lighting to improve the experience of customer by adding extra features like smart lighting. Smart lighting has the ability to change its ambience according to weather condition, temperature and set-up the different combination of light in the morning, noon, evening and night.



Adoption and Installation of New LED Street Light Worldwide

The governments of many developed and developing nations especially emerging nations were supporting LED lighting and passed several bills and draft numerous policies in the favor of LED lighting industry. Many countries starts replacing and installing new LED lights in the public places like street lights, industry association and government building etc. but street lighting gaining prominent growth because all the government either state government or central government are very conscious to adopt LED lighting to save its treasury. They are doing many draft policies time to time to review and monitoring status of LED lighting performance and once it success then they are entitled to implement it into another tier cities on the basis of viability and feasibility.


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LED lighting is Rapidly Growing Prominence in Different array of Application

The future penetration of LED lighting in different industry vertical is expected to be growing with rapid pace. In residential application LED lighting penetration would reach to more than two thirds. In office application, it is likely to increase more than 40% because of viability and compatibility in office architecture. In retail application, LED lighting penetration will reach more than 60% percent by the end of year 2020. In hospitality application, it would cross the more than 75% till 2020. The penetration of LED lighting in industrial segment is lowest among other segments.


Key Topics Covered:

1. Executive Summary
2. Global LED Lighting Market Analysis – (2011 – 2024)
3. Market Share Analysis – Global LED Lighting
4. By Application Global LED Lighting Market
5. By Region Global LED Lighting Market
6. BRIC Countries LED Lighting Market
7. Public Procurement of Led Lighting in European Union Member States
8. Growth Factors
9. Key Challenges
10. Key Players Analysis


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