LED lighting is a better and eco-friendly alternative over
electric bulbs and also helps in cost saving. LED lighting thus seems to be a
game changer with well-equipped and technological advantages in comparison with
conventional lighting. LED lighting industry is driven by factors such as
rising usage in several applications such as street lighting, automotive,
mobiles, backlighting and signs and signals.
LED lighting industry geographically spans North America,
Latin America, Europe, Asia-Pacific, Middle-East & Africa. APAC regions
such as China, Japan, India, Singapore dominate the international market owing
to latest technology, favourable opportunities and large consumer pool.
European markets are anticipated to rise at a higher CAGR owing to extensive
use in automotive, residential and commercial domain. North American market is
anticipated to grow at a higher CAGR owing to production of eco-friendly
products and sustainable energy. Middle-East regions such as Saudi Arabia,
Kuwait and Iran are anticipated to grow during the forecast period due to
modernization. African market is anticipated to grow at a steady CAGR in the
assessment period due to low number of industries and modernization. The key
players in the LED industry market include Zumbotel Group, Havells, Philips,
Syska, Osram Inc, General electric company, Cree Inc, Cooper industries,
Virtual Extension Inc, Dialight Plc, Sharp Corporation and Samsung Corporation.
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