What is LED Strip Market Scope?
LED strip lights are new and versatile forms of lighting. It is a flexible circuit board populated by surface mounted LED’s and other components, which usually comes with an adhesive backing. Traditionally, strip lights had been used solely in accent lighting, task lighting, backlighting, and decorative lighting applications. Increased higher-power SMDs and luminous efficacy have allowed LED strip lights to be used in applications such as high brightness task lighting, halogen lighting fixture replacements, and fluorescent, and, indirect lighting applications, and Ultra Violet inspection during manufacturing processes, set and costume design, and even growing plants.
Influencing Trend:
Growing Application of LED Strips in Home Decoration
Market Growth Drivers:
Increased the Scope of LED Strips in Pathway Lighting, Increase in Demand for LED Strips from Retail Sector, Surging Recreational Lighting Applications in Boats, RVs, Vehicles and Growing Demand for LED Strips from Residential Sector
Challenges:
Intense Competition within the Industry
Restraints:
High Initial Investment
Opportunities:
The Emerging Demand from Asia Pacific Region and Technological Advancements in LED Strips
The LED Strip market study is being classified by Type (SMD 5050, SMD 3528 and SMD 2835), by Application and major geographies with country level break-up.
Analysts at AMA predicts that Manufacturers from United States will contribute to the maximum growth of Global LED Strip market throughout the predicted period.
Forge Europa (United Kingdom), LEDVANCE (Germany), Ledridge Lighting (United Kingdom), Digital Advanced Lighting (United Kingdom), Independence LED Lighting (United States), Flexfire LEDs (United States), Lighting Ever LTD (United States), LEDMY (China), Holectron (Lithuania) and Havells (India) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Luminous Power Technologies Pvt. Ltd. (India) and Inava Instrument International (India).
Segmentation Analysis
Analyst at AMA have segmented the market study of Global LED Strip market by Type, Application and Region.
On the basis of geography, the market of LED Strip 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).
Market Influencers and their Development Strategies
In July 2019, LEDVANCE, a leading LED strips manufacturer has introduced a new range of LED Strips and accessories., On 16 May 2019, Environmental Lights, provider of LED lighting solutions, announced the launch of the new Precision 2835 LED Strip Light. and On 28 Feb 2019, Environmental Lights, a leader in LED lighting solutions, announced the launch of the new ProFlex LED Strip Light.
In May 2023,Light strips are more than commonplace. They’re easy to set up and provide some serious color to your space. Govee’s latest light source, the M1 LED strip, provides vibrant colors to your smart home, regardless of its ecosystem, because it’s fully compatible with the Matter standard.
Key Target Audience
LED Strip Manufacturers, LED Strip Raw Material Suppliers, LED Strip Traders/Distributors, LED Strip Importer/Exporter, Regulatory & Government Bodies, End Users and Others
LED Strip Market Study: Important Years
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in LED Strip Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in LED Strip industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.