Industry Background:
LED services provide cost effective lighting solution to households, public places as well as commercial institutes. LED lighting popularity is gaining rapidly as it offers other benefits such as less toxicity, durability as well. Manufactures are focusing on products innovation amid changing consumer preferences to stay competitive in the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Thorlux Lighting [United Kingdom], Ledvance GmbH [Germany], Philips Lighting [Netherlands], OPPLE Lighting [China], Reggiani Spa Illuminazione [Italy], Bright Special Lighting [Greece], Endo Lighting [Japan], Global Light [United States], KKDC [United Kingdom] and Cree [United States] |
This growth is primarily driven by Rising Need for Energy-Efficient Lighting Solution and Ability to Offer Cost Effective Solution In Long Term.
Globally, a noticeable market trend is evident Multi Color Lighting Solution for Homes
The Consumer Staples sector in the Europe region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Thorlux Lighting [United Kingdom], Ledvance GmbH [Germany], Philips Lighting [Netherlands], OPPLE Lighting [China], Reggiani Spa Illuminazione [Italy], Bright Special Lighting [Greece], Endo Lighting [Japan], Global Light [United States], KKDC [United Kingdom] and Cree [United States], etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The key players are targeting the innovations of the Solutions with better quality, and better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking about mergers and acquisitions to maintain their presence in the market.
Key Developments in the Market:
In November 2023, Industry giants BrightSign LED and Lumitex announced a definitive merger agreement, creating the world's largest LED lighting services provider. The combined entity will offer a comprehensive range of solutions for commercial, industrial, and residential applications.
In November 2023, Acuity Brands unveiled its revolutionary "TruColor" LED technology, offering unparalleled color accuracy and vibrancy for retail and hospitality applications. TruColor is expected to set a new standard for LED lighting in color-critical environments.
Regulatory Insights:
LED lights are subjected to industry standards governing safety and performance in United States. To accommodate LEDs, various test procedure are carried out. ANSI (American National Standards Institute) and IESNA (Illuminating Engineering Society of North America,) have published standards addressing some aspects of LEDs. However, the standard is being adopted very slowly.
Influencing Trend:
Multi Color Lighting Solution for Homes and Smarter Lighting Fixtures
Market Growth Drivers:
Rising Need for Energy-Efficient Lighting Solution and Ability to Offer Cost Effective Solution In Long Term
Challenges:
Lack of standardization and High Competitive Rivalry Among Market Players
Restraints:
Alternate Lighting Services and High Initial Set-up Cost
Opportunities:
Developments of LED Wireless Solution and Cost Reduction Through Product Innovation
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in LED Services Market
- Analysis about New Entrants in LED Services Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, LED Services Study Sheds Light on
The LED Services Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the LED Services industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where LED Services industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.