About LED Light Bulbs for Residential
The latest technology in a light bulb is LED that is the short form for Light Emitting Diode. LEDs give out more light and are mounted within the diffuser lenses which help in spreading the light over a wider area. LED bulbs once used to be for specialty lamps but now can be fitted into standard screw-in connectors in many lamps and sockets. These bulbs are way more long-lasting and efficient in comparison to other bulbs available. Due to the focus of light in one direction these bulbs prove to be great for any specific workplace or area. These LED light bulbs can ideally be used in reading lamps, lighting rooms, under cabinet lighting, decorative lighting and task lights. Moreover, the LED light bulbs are heat resistant and do not heat up, unlike other light bulbs. Growing advancement in technology has reduced the costs of the LED light bulbs hence making it cost-effective than the available bulbs in the market. With this continuing trend, the LED light bulbs are further being designed for more and more applications.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products and collaborations as their preferred strategies. The players are exploring new geographies and industries through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global LED Light Bulbs for Residential market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
OSRAM (Germany), GE Lighting (United States), Philips Lighting (Netherlands), Acuity Brands (United States), Cree (United States), Eaton (Ireland), Nichia Corporation (Japan), Leviton (United States), Ilumi (China), LIFX (Australia), Seoul Semiconductor (South Korea), Foshan Electrical & Lighting (China) and Everlight Electronics (Taiwan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Eterna Lighting (United Kingdom), Feit Electric (United States), Legrand S.A. (France) and Lutron Electronics Company, Inc. (United States).
Segmentation Overview
AMA Research has segmented the market of Global LED Light Bulbs for Residential market by Type (Standard, Decorative, Globe, Reflector, Linear and Others), Application (Indoor and Outdoor) and Region.
On the basis of geography, the market of LED Light Bulbs for Residential has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Lumen Type, the sub-segment i.e. 1500 3000 Lumens will boost the LED Light Bulbs for Residential market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by By Room, the sub-segment i.e. Kitchen will boost the LED Light Bulbs for Residential market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase in the Trend of Having the Kitchen Space to a Minimum and Also Maintaining Optimum Efficiency and Rising Demand for Residential Spaces That Are Equipped With Efficient and Long Lasting Featured LED Bulbs
Market Growth Drivers:
Growing awareness about LED Bulbs in Households, Increase in the Spending on Commercials Regarding Manageable, Stylish And technical LED Bulbs for Residential Purposes and Growth in Developed and Developing Nations with Rising in Disposable Income
Challenges:
The Fluctuating Costs of Raw Materials and Labours and The Dominance of Fluorescent Bulbs in Market May Hamper the Growth of These LED Bulbs
Restraints:
High Costs, High Maintenance, and Delicacy Regarding the LED Bulbs and Availability of Counterfeit Products
Opportunities:
Rapid Expansion of the Construction Sector, Growing Global Smart City Initiatives Attracting Huge Technology Investments and Increase in Residential Building Tie-Ups with Governmental Expenditures on Infrastructural Development
Market Leaders and their expansionary development strategies
In July 2020, Savant Systems, Inc., an industry leader in the professional smart home space has completed the acquisition of GE Lighting from GE, creating GE Lighting, a Savant company.This acquisition has moved our company significantly toward our goal of becoming the number one intelligent lighting company worldwide.
In February 2021, Orient Electric Limited, part of the CK Birla Group, has launched its new range of Emergency LED lighting solution. The company claims these provide backup lighting for up to four hours during power outages.Frequent power cuts disrupt normal life and can greatly affect businesses such as small retail shops, salons, food outlets, mobile retailers etc. Given this background, we have introduced our new range of emergency LED lights comprising of bulbs, battens, recess panels and bulkheads for homes, small office, and retail shops.
Key Target Audience
Manufacturers of LED Bulbs for Residential, Raw Material Suppliers, Distributors and Traders, Research Organisations and Government Agencies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.