Solid-State and Other Energy-Efficient Lighting Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
Global Solid-state and Other Energy-efficient Lighting Market: Overview
Solid-state and other energy-efficient lighting forms have allowed the world to solve the expanding crisis of high energy consumption at the cost of depleting fossil fuels and excessive pollution, states TMR Research. The demand for energy-efficient lighting solutions is projected to skyrocket in the coming years as various end users are moving toward creating greener products. The growing initiatives to replace incandescent lighting lamps to equipping automobiles with less energy consuming lights are anticipated to work in favor of the global market. Solid-state and other energy-efficient lighting solutions offer a longer lifespan and a better battery life. All of these factors are collectively expected to benefit the overall market.
Global Solid-state and Other Energy-efficient Lighting Market: Key Trends
As the world progresses toward being technological advanced and fast-paced it is will demand mammoth amount of energy. However, the soaring consumption of energy over the past few years has led to massive carbon emissions and a spiraling greenhouse effect. Owing to these reasons, countries and governments across the globe are making arduous efforts to develop and adopt solid-state and other energy-efficient lighting solutions.
The solid-state and other energy-efficient lighting solutions are used for general lighting, backlighting, automotive lighting, medical lighting, and others. The market offers hardware, software, and services. Analysts predict that the rise of the construction industry is expected to boost the overall market in the near future. Rapid urbanization, migration, and growing population have collectively led to a huge demand for housing and accommodation, thereby the construction industry. As newer constructions are adopting energy-efficient ways of living they are expected to bolster the growth of the global market in the coming years.
Global Solid-state and Other Energy-efficient Lighting Market: Market Potential
An emerging trend seen in the global solid-state and other energy-efficient lighting market is the adoption of these lights by astronauts. In a recent news, the International Space Station reported that it is using light-emitting diodes (LEDs) to help astronauts sleep better. The colors and the intensity of the light emitted by solid-state light assemblies is projected to showcase a new spectra of light, which will create an environment that can improve alertness by offer a normal day-life scene thereby promoting effective sleepiness. The new stated that if these lights could help astronauts sleep well, then they could be used by earthlings as well. Thus, these lights are not only energy efficient, but could also find a market in areas where vendors haven’t thought of treading yet.
Global Solid-state and Other Energy-efficient Lighting Market: Regional Outlook
Geographically, the global solid-state and other energy-efficient lighting market is segmented into Europe, Asia Pacific, North America, and Rest of the World. Analysts anticipate that North America will show a steady growth in the global market in the coming years. This regional market will be driven by the U.S. as the construction industry is adopting better lighting solutions to reduce the consumption of energy and carbon footprint. The growing adoption of and increasing preference for energy-efficient technologies across the region are expected to benefit the regional market. Europe is expected to follow suit as the governments across the globe are drawing up stringent regulations pertaining to usage of efficient lighting solutions in order to curb the greenhouse effect.
On the other hand, Asia Pacific solid-state and other energy-efficient lighting market will be led by China as the government expenditure increases on building better infrastructure for the public. Furthermore, the increasing focus on building energy management infrastructure is also expected to be boost the adoption of solid-state and other energy-efficient lighting market in Asia Pacific. The booming economies, such as China and India, trying to strike a balance between high energy consumption and efficient energy consumption are also projected to propel the global market in the near future.
Key Players Mentioned in this Report are:
Phillips Lighting Holding B.V., Samsung, General Electric Company, Sharp Corporation, Virtual Extension, OSRAM Licht AG, Cree, Inc., Dialight plc, Cooper Industries, Inc., and Zumtobel Group AG.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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