LED Lighting Market is Projected to Reach USD 108.99 billion by 2025: Grand View Research, Inc.

27-December-2018: According to a report published by Grand View Research, Inc.; the LED lighting market is expected to reach a valuation of around USD 108.99 billion by 2025.

Escalating demand for power-efficient lighting systems in residential, commercial, and industrial application can propel the market during the forecast period (2014 to 2025). In addition, growing worries about decreasing non-renewable power sources and declining prices of these lights can support the market growth.

LEDs are efficient, reliable, and have long life, which is expected to spur its demand in several indoor as well as outdoor applications. In addition, technological developments, improved energy efficiency standards, and increasing shift from conventional lighting to green lighting are likely to increase demand for these products in the years to come. Constant improvements in energy-saving products, launch of Standard Deviation Color Matching (SDCM) control, extended lifespan as compared to CFL lamps, and development of smart/connected lighting has increased its demand.

Worldwide LED lightening Market can be segmented on the basis of product, design, application, and region.

As per product, the market can be bifurcated into basic LED, high brightness LED, OLED, and others.

In 2016, the OLED segment developed as the major product segment. The segment is expected to display high CAGR of over 23.0% during 2017 to 2025. It offers greater contrast and improved brightness, wide viewing angle and extensive range of pixel sizes.

Based on design, the market can be classified into lamps and luminaires.

In 2016, LED lamps appeared as the prime segment. These lamps comprise many advantages over incandescent ones in terms of energy efficiency, robustness, and temporal stability. In addition, they are available in several designs and applications such as T-Lamps, A-Lamps, MR-16 lamps, and reflectors.

The luminaires segment is mainly driven with rise in new installations. The segment include illumination used in applications such as streetlights, downlights, high bays, troffers, track lights, and suspended pendants for several applications. LED luminaires produces more light per output power and easy to control.

On the basis of application, the market can be split into indoor and outdoor.

In 2016, the indoor segment was valued at over USD 20.0 billion and likely to grow steadily during the forecast period. This segment is further classified into commercial, residential, industrial, and others. In 2016, the commercial sub-segment accounted for the major share due to increasing use in offices, hospitals, retail stores and malls, education buildings, and others.

The outdoor segment includes applications like corporate campuses, industrial, airports, government, highways and roadways, healthcare infrastructure, and public places such as signage and traffic signals. Supportive government policies can boost the segment growth in the coming years.

Government efforts such as LightSavers program commenced by The Climate Group are expected to increase its use over traditional products.

Geographically, the market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Stringent regulatory guidelines across European Union, the U.S., Canada, and China about conventional lighting and energy consumption are expected to support the market growth.

Asia Pacific is expected to dominate the market during the forecast period in terms of manufacturing. The region is likely to display a CAGR of 15.4% during 2017 to 2025 on account of increasing demand for energy-efficient products. Countries such as China, Japan, and Taiwan are the major contributor to regional growth due to supportive government measures for implementation of LEDs and presence of numerous companies.

In recent years, North America and Europe have perceived a remarkable growth due to government support and increasing use of ultra-modern lighting in industries. The U.S. is likely to become a major contributor due to strong dollar policy and high demand for LED illumination. The country has implemented several new policies regarding the use of LED technology, and increased budget for R&D of energy efficient lighting solutions. This is expected to thrive the market in this region.

Prominent companies operating in the market include Digital Lumens, Inc.; Cree, Inc.; General Electric Company; Cree, Inc.; and Koninklijke Philips Electronics N.V.

In-Depth Research Report On LED Lighting Market:

https://www.grandviewresearch.com/industry-analysis/led-lighting-market

Light-Weight Electronic Devices can Propel the Flexible Electronics Market

14-December-2018: According to a report published by Grand View Research, Inc.; the flexible electronics market is expected to reach a valuation of around USD 87.21 billion by 2024.

Increasing demand for for compact and light-weight electronic devices can propel the market over the forecast period (2013 to 2024). In addition, increasing government expenditure is also expected to support the market growth.

Several advantages associated with it such as ruggedness, light-weight, portability, and low-cost of manufacture as compared to rigid substrates are expected to fuel the market growth. These devices pose high demand in gaming and entertainment industry due to their ability to curve, flex, roll, fold, and conform to provide a spontaneous user interface.

The market is expected to perceive the integration of wearable technology with flexible electronics due to increasing technological developments. Increasing demand for smartphones, smart watches, smart glasses, e-papers, and e-books are likely to boost the demand for this technology in the coming years. Since, the technology enables electronic systems to be the technology facilitates electronic systems to be rolled, flexed, and stretched that helps to design portable, compact, and miniature device. In addition, organic electronics will also offer opportunities sensors in non-display applications such as contactless control, biometric sensor arrays, and gesture recognition.

However, increasing competition with other commercialized technologies including LED, LCD, among the others are likely to hamper the market growth.

Worldwide flexible electronics market can be segmented on the basis of components, application, and region. Based on component, the market can be categorized into display, memory, sensors, battery, and others. The display segment estimated for the highest revenue of over 50%.  The segment is anticipated to expand at a CAGR of more than 16% during the forecast period. Features such as better power efficiency and fast microsecond on/off pixel switching rates are likely to support the segment growth. Increasing applications in e-reader, smartphones, notebooks, laptops, and desktops, is likely to growth of the segment in the coming years.

The battery segment is projected to expand at CAGR over 15% during the study period. Growth of internet of things (IoT) and its execution in wearables and environmental sensors, and energy efficient products are expected to boost the segment.

As per application, the market can be bifurcated into consumer electronics, industrial, automotive, healthcare, and others.

In 2015, The wearable devices segment estimated for over 40% of the total revenue. The segment is expected to display healthy growth over the forecast period due to surge in demand for fitness or activity trackers for tracking physical activity, heart rate, and sleep.

The healthcare segment is likely to witness a steady growth at CAGR of over 8% during 2016 to 2024. This growth can be attributed due to growing usage in x-ray detectors, lab-on-chip devices, light therapies, healthcare photonics, health monitoring devices, and smart plastics.

 Geographically, the market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

In 2015, North America estimated for over 30% of the overall revenue. Factors such as presence of established players, availability of technologically advanced process technologies, and equipment and intellectual property related to flexible electronics are likely to drive the regional growth over the forecast period. Presence of several research universities, which are involved in research projects are also expected to support the growth in the region.

In 2015, Asia Pacific accounted for over 20% revenue share of the total market. This region is likely to show rapid growth at a CAGR more than 17% during 2016 to 2024.  This growth can be attributed to the presence of several major companies with high manufacturing capabilities.

In 2015, European market was valued over USD five billion.  Numerous subsidized projects carried out in countries such as Germany, the UK, Belgium, Netherlands, and Finland to boost the advancements in technology.  This is also driving the growth in this region.

Key companies operating in the market include E Ink Holdings Inc.; ITN Energy Systems Inc.; Thinfilm Electronics ASA.; Samsung; and GE Measurement & Control Solutions.

In-Depth Research Report On Flexible Electronics Market:

https://www.grandviewresearch.com/industry-analysis/flexible-electronics-market