With technological advancements, manufacturing efficiency and decline in the prices, the global market for LEDs has witnessed a strong growth over a period of time. According to a new report by Expert Market Research, the global LED market reached a value of US$ 69 Billion in 2018 and is further expected to reach US$ 117 Billion by 2024. Owing to the growing environmental concerns and increasing expenses on electricity generation, governments’ regulations have become more stringent, encouraging the penetration of energy-efficient light sources like LED lights. Moreover, a rising demand for LEDs in high-tech products such as flat TVs, digital cameras, smart phones and automotives has also propelled the growth aspects of the LED market.
Key findings from the report:
Click here for the summary of report: https://www.expertmarketresearch.com/reports/led-market
Expert Market Research has analysed the global LED market according to lighting product, end-use, major regions and top players:
Market breakup by Lighting Product
Market breakup by End-use
Market breakup by Region
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"Global LED Market: By Region: China, Europe, North America, Asia Pacific, Japan, Middle East and Africa, Latin America; By End-Use: Retrofit, Retail and Hospitality, Outdoor, Office, Architectural, Homes, Industry, Others; SWOT Analysis; Historical Production and Consumption (2014-2018); Production and Consumption Forecast (2019-2024); Competitive Landscape"
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The cost-effectiveness of LED lighting products and people’s attitude of lighting energy conservation have driven the global LED lighting market to nearly USD 70 billion in 2018. During the forecast...