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Key Factors Driving the Growth of the LED Light Engine Market to $59.5 Billion

LED Light Engine Market Research Report, identifies new revenue opportunity in led light engine industry. The report aims at estimating the market size and future growth of the led light engine platform based on offering, process, application, vertical, and region.

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Key Factors Driving the Growth of the LED Light Engine Market to $59.5 Billion

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  1. MarketsandMarkets Presents The LED Light Engine Market is expected to be valued at USD 30.0 billion in 2019 and is anticipated to reach USD 59.5 billion by 2024 growing at a CAGR of 14.7% from 2019 to 2024. Rising demand for energy-saving lighting systems; development and modernization of infrastructure, for example, smart cities; availability of low-price LEDs; the entrance of LEDs as light sources in general lighting; and accelerating growth of LED technology over conventional lighting technology are key factors influencing the market growth of LED Light Engines.

  2. MarketsandMarkets Presents Luminaires to record highest CAGR in LED Light Engine Market during forecast period The luminaire subsegment is expected to grow at the highest rate as it is the main component of an LED Lighting System. Increasing consumer awareness about conserving energy and installing light systems with high energy efficiency is expected to boost the LED Lighting Market for luminaires. Get PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1645 0611

  3. MarketsandMarkets Presents Market for retrofit installations to grow at highest CAGR during forecast period In the LED Light Engine Market, by installation type, retrofit installations are expected to experience the highest growth. Increasing replacements of incandescent lamps with energy-efficient light sources, such as LED lamps is the major factor contributing to the growth of the market for retrofit installations for LED Light Engines. The old generation lamps are being slowly phased out and fixtures are being retrofitted with LED lamps as they offer longer operational life and consume less energy.

  4. MarketsandMarkets Presents Residential indoor lighting applications to dominate LED Light Engine Market in terms of value Increase in infrastructure-building activities, a large chunk of which is the residential sector, is the major factor contributing to the high growth of the residential indoor lighting end-use application. Economies with high per capita income are expected to implement energy-efficient lighting solutions in residential applications. Countries, such as China, the US, Canada, and European countries, including the UK and Germany, are expected to drive the residential indoor lighting market for LED Light Engines during the forecast period.

  5. MarketsandMarkets Presents APAC to hold largest share in overall market for LED Light Engines during forecast period APAC is expected to be one of the fastest-growing markets for LED Light Engines during the forecast period. The high growth rate can be attributed to the undertaking of rapid infrastructure-building activities in the region. China and Japan are the major markets for LED Light Engines in APAC. China is already the largest producer and consumer of lighting fixtures and lamps in the world. Despite the recent slowdown in real estate, the market for LED lighting is expected to grow at a high rate mainly because of the increasing government expenditure on public infrastructure, and the continuing growth in commercial and industrial building constructions.

  6. MarketsandMarkets Presents Key Players In 2018, the LED Light Engine Market was dominated by key players, such as Signify Lighting NV (Netherlands), OSRAM Licht AG (Germany), GE lighting (US), Cree, Inc. (US), Hubbell Inc. (US), Zumtobel Group AG (Austria), Wipro Enterprises (P) Ltd. (India), Samsung Electronics (South Korea), LG Innotek (South Korea), Legrand SA (France), Glamox AS (Norway), Lutron Electronics Co., Inc. (US), among others. Browse For More Details - https://www.marketsandmarkets.com/Market-Reports/led-light- engine-market-16450611.html

  7. MarketsandMarkets Presents About MarketsandMarkets™ MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients. The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

  8. MarketsandMarkets Presents Contact: Mr. Aashish Mehra MarketsandMarkets™ INC. 630 Dundee Road Suite 430 Northbrook, IL 60062 USA: +1-888-600-6441 Email: sales@marketsandmarkets.com Visit Our Website: https://www.marketsandmarkets.com Content Source: https://www.marketsandmarkets.com/PressReleases/led-light- engine.asp

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