The latest report by IMARC Group titled, “LED Bulb Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, provides an in-depth analysis of the global LED bulb market. LED bulbs are a cluster of Light Emitting Diodes (LEDs) that are mounted on a single base and encased in a diffuser lens to spread the light across a larger area. Unlike incandescent and fluorescent bulbs, these bulbs emanate light by electronic excitation rather than heat generation, which results in lesser emission of heat. Due to this, LED bulbs help in reducing energy consumption (up to 90% less power than incandescent bulbs) and offer higher efficiency. Moreover, LED bulbs have longer lifespan than the traditional sources of lighting. These bulbs last 10 times as long as compact fluorescent bulbs, and 133 times longer than typical incandescent bulbs.
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The market for LED bulbs is steadily gaining momentum as a result of wide array of variety, such as watts, colours, bases, shapes, dimmable controls, etc. Some of the most popular types of LED bulbs include directional-reflector bulbs which are used to light up wide areas; LED candle bulbs used for decorative purposes and omnidirectional LED bulbs for rooms. Another factor which has escalated the demand for LED bulbs is the active participation of government in encouraging the use of LED technology. In fact, governments in several regions have passed laws to restrict the use of incandescent light bulbs for general lighting purposes and replace them with more energy-efficient lighting alternatives.
The market is segmented on the basis of key application areas which include homes, hospitals, offices, hotels and restaurants, and showrooms and malls. The market is also segmented on the basis of key regions. Some of the major markets for LED bulb are India, China, Europe, United States, Japan, Brazil and Russia. An analysis of the competitive landscape provides the details of the key players operative in the market. Some of the major players are Nichia, Osram, Samsung Electronics, Everlight Electronics and LG Innotek.
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The report has examined the global LED bulb markets on the basis of:
Key Application Areas:
- Hotel and Restaurants
- Showrooms and Malls
- United States
- Samsung Electronics
- Everlight Electronics
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