According to a new report by Fortune Business Insights, titled “Lighting Market Size, Share & Industry Analysis, By Lighting Type (LEDs, CFLs, LFLs, HIDs, Halogens and Incandescent), By Application (General Lighting, Automotive Lighting, Backlighting, Others), by End User (Residential, Commercial and Industrial) and Regional Forecasts, 2019-2026”.
The global lighting market is set to reach USD 115.58 billion by 2026, exhibiting a CAGR of 4.4% during the forecast period.
Key players in the global lighting market are increasingly focusing on developing innovative products and integrating different technologies to diversify their product offerings.
Some of the important players in the global lighting market, as identified by Fortune Business Insights, include:
- Cree, Inc.
- Panasonic Corporation
- GE Lighting
- LED Leader USA
- OSRAM Licht AG
- Koninklijke Philips N.V.
- LEDtronics, Inc.
- CITIZEN ELECTRONICS CO., LTD.
- Havells India Ltd.
Browse Complete Report – https://www.fortunebusinessinsights.com/industry-reports/lighting-market-101542
In January 2019, GE Lighting, under its C by GE Triples portfolio, launched its new color light bulbs integrated with Made for Google applications. This enables consumers to conveniently control their home or workplace lighting using one app which will be empowered by the Google Assistant AI. In July 2019, LEDtronics introduced their novel product, LED Rope Light, which is a more energy-efficient alternative to the conventional neon lights, making it ideal for commercial lighting.
Multiple Benefits of LED Lighting to Boost the Market
Light Emitting Diodes (LED) are energy-efficient light bulbs that use electro-luminescence and semiconductors to produce light, offering a variety of economic and ecological benefits. For example, the US Department of Energy estimates that 20% of energy consumption in the US comes from lighting. The department’s calculations suggest that LEDs can reduce lighting costs to just 5% of the total household energy consumption in the US. Moreover, LEDs have a long shelf life. For example, a 6 to 8 Watt LED bulb has a lumen output of 800 and has the ability to last for 50,000 hours; the traditional incandescent bulb lasts just 1200 hours.
Market Segmentation Of Global Lighting Market –
By Lighting Type
- General Lighting
- Automotive Lighting
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia Pacific)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
- Latin America (Brazil, Mexico, and Rest of Latin America)
Major Table of Contents:
- Definition, By Segment
- Research Approach
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends of Market
- Key Insights
- Macro and Micro Economic Factors
- Key Technological Developments
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Global Lighting Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Lighting (Value and Volume)
- Market Sizing Estimations and Forecasts – By Application (Value)
- General Lighting
- Automotive Lighting
- Market Sizing Estimations and Forecasts – By End User (Value)
- Market Analysis, Insights and Forecast – By Geography (Value and Volume)
- North America
- Asia Pacific
- Middle East and Africa
- Latin America
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