U.S. LED lamp market is also projected to gain a significant traction via the horticulture lighting recognized as one of the major niche applications in this region. Marijuana trade, which is proliferating on account of its medicinal value, is being addressed as a significant investment spot for the LED lamp industry participants.
The growing trend of automation and the ‘smart city’ and ‘smart home’ initiatives have further added to the growth of LED lamp industry. In this regard, the developed economies have contributed toward a major chunk of the overall market revenue. U.S. and Canada have been lucrative avenues for the LED lamp market growth over the recent years and are anticipated to display an upward path in the coming years as well.
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Europe is anticipated to dominate the LED lamp market share owing to the increasing demand for smart lighting and smart homes options. Various regulations in the region for implementation of these lamps in industrial, public, and residential sectors have further escalated the regional growth. North America is expected to showcase a considerable growth rate owing to the increasing adoption in outdoor applications. Asia Pacific will exhibit a significant growth rate owing to various government initiatives across the region for the implementation of LED lamps.
LED Lamp Market scale has witnessed a swift upsurge with the commendable product penetration across the industrial and residential sectors. The LED lamp industry growth is not only attributed to the huge profit residing in its wide spectrum of applications but is also equally driven by the buzzing trend of energy conservation worldwide. Considering the demand curve of LED lamps over the recent years, these products have become a commodity of choice in response to the escalating demand for sustainable lighting solutions and optimal energy usage.
The lighting companies worldwide are proactively investing in these products making it a significant part of their business portfolios. These investments where on one hand are benefiting the firms financially, on the other hand, are also addressing the corporate responsibility of the organizations. The recent noteworthy initiative in this regard is by Phillips Lighting where the company has developed LED lamps in a research partnership with Dubai Municipality. The company aims to supply 2 million ‘Dubai Lamps’ across the city in 2017, covering the residential and commercial sectors. This number is estimated to reach 10 million lamps by 2021, which signifies the huge expansion of LED lamp market across the country. Philips claims these lamps to reduce the electricity consumption by 90%. The innovation of ‘Dubai Lamps’ is certainly a groundbreaking move in the LED lamp industry. Other companies exploiting the opportunities in the LED lamp market include GE, Cree, Samsung, Osram, etc.
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LED lamp market has witnessed a series of M&As and strategic collaborations as a part of its growth approach. Product diversification and differentiation have been the prime goals of the organizations behind these strategic moves. The companies are implementing vertical integration tactics across their value chain model. The aforementioned statement is justified by the acquisition of Lightech, a technology leader in LED drivers by GE Lighting, in 2011.
Osram, Samsung, Philips, Cree, Inc., Eaton Corporation, and General Electric Company are among the prominent players in the LED lamp market. Joint ventures and acquisitions are the key strategies adopted by the industry participants to set their foothold.
Glimpse of Table of Content (ToC)
Chapter 3 LED Lamp Market Insights
3.1 Industry segmentation
3.2 Industry growth landscape, 2013 – 2024
3.3 Industry ecosystem analysis
3.3.1 Distribution channel analysis
3.3.2 Vendor matrix
3.4 Technology landscape
3.4.1 Chip on board (COB) LED-array
3.4.2 OLED lighting
3.4.3 LED use in Li-Fi communication
3.5 Raw material analysis
3.6 Regulatory Landscape
188.8.131.52 Institute of Electrical and Electronic Engineers (IEEE)
184.108.40.206 Illuminating Engineering Society of North America (IESNA)
220.127.116.11 American National Standards Institute (ANSI)
18.104.22.168 Regulation 1194/2012
22.214.171.124 Energy Labels
126.96.36.199 Energy-related Products (ErP) Directive
188.8.131.52 GB30255-2013 regulations
184.108.40.206 GB/T2408-2014 regulations
3.7 Pricing analysis
3.7.1 Regional pricing trends
3.7.2 Cost structure analysis
3.8 Industry impact forces
3.8.1 Growth drivers
220.127.116.11 Reduction in LED prices
18.104.22.168 Increasing demand for energy efficient lighting
22.214.171.124 Favorable government initiatives
126.96.36.199 Infrastructure development projects
188.8.131.52 Growing usage in public spaces and street lightings
3.8.2 Pitfalls and challenges
184.108.40.206 Reduced replacement frequency
220.127.116.11 Effects of blue light
3.9 Innovation & sustainability
3.10 Growth potential analysis
3.11 Porter’s analysis
3.12 Competitive landscape, 2016
3.13 PESTEL analysis
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