Skip to main content

LED Lighting Market - In-depth Analysis of the Industry with Future Estimations

As the world is marching toward energy-efficient lighting solutions, owing to the surging environmental concerns, individuals, organizations, and governments are focusing on the adoption of light-emitting diode (LED)-based lighting solutions. As compared to conventional lights, LEDs have longer operational life and lower maintenance costs. Owing to these advantages, several governments are taking multiple initiatives to replace conventional lighting solutions with LED systems. 

For example, in 2019, the government of Tamil Nadu, an Indian state, issued a tender to replace the existing conventional street lights of Coimbatore with energy-efficient and smart LED lights. Over the years, smart LED lighting solutions have become quite popular due to their higher energy efficiency than traditional lighting solutions. The adoption of smart LEDs helps in reducing the cost burden on residential and commercial users, as these lights enable energy savings. 

Get the Sample Copy of this Report at: https://www.psmarketresearch.com/market-analysis/led-lighting-market/report-sample


Other characteristics of these lights include motion activation technology, automatic off/on, and adaptive lighting. The ability of smart LED solutions to change their color enables them to create an ambient indoor experience. According to P&S intelligence, the Asia-Pacific (APAC) region deployed the largest number of LED lights in the recent past, owing to the deep penetration of LED lighting systems in the residential sectors of India, South Korea, and China. 

The expansion of the construction and infrastructure sectors in the region, primarily on account of the booming population, is propelling the adoption of these energy-efficient lighting solutions in APAC. Besides, the escalating consumer awareness about energy-efficient lights, owing to the surge in environmental concerns and power tariff, is augmenting the demand for LEDs in this region.

Thus, the rising awareness about energy-efficient lighting and declining LED prices will augment the adoption of LED lighting solutions in the coming years.

Comments

Post a Comment

Popular posts from this blog

Business Impacts of COVID-19 on AR and VR Market Strategies of Major Industry Competitors

The global augmented reality (AR) and virtual reality (VR) market generated a revenue of $37.0 billion in 2019 and it is predicted to progress at a CAGR of 42.9% between 2020 and 2030. Furthermore, the market will reach a value of $1,274.4 billion by 2030. The increasing adoption of the AR and VR technologies in the healthcare, entertainment, education, gaming, and tourism sectors is one of the major factors fueling the advancement of the market across the globe. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/augmented-reality-and-virtual-reality-market/report-sample   Besides the aforementioned factor, the growing usage of smartphones and tablet computers is also propelling the expansion of the AR and VR industry across the world. According to various reports, the total number of smartphone users all over the world is predicted to rise to 3.5 billion by 2020, registering a growth rate of 9.3% from 2019. As smartphones are suitable hardware i...
Post a Comment
Read more

How Is 5G Infrastructure Enhancing Reliability of IoT-Enabled Devices?

To cater to the needs of end users, Ciena Corporation, Samsung Electronics Co. Ltd., China Mobile Ltd., KT Corporation, American Tower Corp., Hewlett Packard Enterprise Development LP, Airspan Networks Inc., Cisco Systems Inc., NEC Corporation, AT&T Inc., Huawei Technologies Co. Ltd., Affirmed Networks Inc., Telefonaktiebolaget LM Ericsson, and others are introducing new and advanced solutions and collaborating with other organizations to offer a strong 5G infrastructure. For instance, in June 2019, AT&T Inc. entered into a collaboration with International Business Machines (IBM) Corporation to provide edge computing and wireless 5G networking for business entities. The end user segment of the 5G infrastructure market is categorized into government, commercial, residential, and industrial. Among these, the industrial category is projected to witness the fastest growth during the forecast period, owing to the increasing advancements in IoT technology and expanding opportunities ...
Post a Comment
Read more

How Are Electronic Transactions Propelling Fraud Detection and Prevention System Usage?

To combat the various types of threats effectively, market players like TransUnion LLC and SAS Institute Inc. are offering a hybrid analytical approach. This approach integrates various aspects of fraud detection into one technological solution. Such integrated applications swiftly connect each and every aspect of the fraudulent activity and analyze each strand individually as a potentially greater threat. Thus, These solutions provide a holistic view of fraudulent behavior and support prepayment detection and prevention. Geographically, the North American fraud detection and prevention market generated the highest revenue in 2018. This was due to the wide-scale adoption of cloud-based technologies in small and large businesses, which has resulted in a significant number of fraudulent activities. Moreover, the extensive research and development (R&D) being undertaken for integrating the internet of things (IoT) technology in fraud detection and prevention systems will steer the ma...
Post a Comment
Read more