DUBLIN — According to a new report by ResearchAndMarkets.com, the North America LED lighting market is expected to grow at a CAGR of around 9% during 2019-2024.
Light-emitting diodes (LED) are semiconductor devices that produce non-coherent and narrow spectrum light when forward voltage is applied. As compared to conventional lights, LED lights are environment-friendly in nature and they save around 90% of the overall energy consumption. Some of the other advantages associated with LED lights include reliability, compact size, fast switching, longer lifespan, improved physical robustness, low heat output and minimum radiation emission. LED lights require a constant-current DC power source rather than a standard AC line voltage. Owing to this, LED lights find wide applications in industries such as automobiles, real estate, infrastructures, and consumer electronics.
The North America LED lighting market is currently being driven by several factors. The booming lighting industry can be accredited to the rising demand for energy-efficient products and up-gradation of existing products with LEDs. Moreover, the technological innovations, increasing awareness among consumers about the benefits associated with LEDs and the rising environmental concerns have stimulated the market growth in the region. In addition to this, several applications of LEDs in automotive, general lighting, mobile devices, signal and signage, healthcare, forensic, street lighting, academics and research purposes have also spurred their demand. Furthermore, the increasing marketing initiatives by manufacturers, through various advertising mediums such as newspaper, television, etc., have catalyzed the growth of LED market in the region.
Key Questions Answered in This Report:
- How has the North America LED lighting market performed so far and how will it perform in the coming years?
- What are the key regions in the North America LED lighting market?
- What is the breakup of the North America LED lighting market on the basis of product type?
- What is the breakup of the North America LED lighting market on the basis of application?
- What are the various stages in the value chain of the North America LED lighting industry?
- What are the key driving factors and challenges in the North America LED lighting industry?
- What is the structure of the North America LED lighting industry and who are the key players?
- What is the degree of competition in the North America LED lighting industry?
- What are the profit margins in the North America LED lighting industry?
- Base Year Considered: 2018
- Historical Data Coverage: 2013-2018
- Market Forecast: 2019-2024
- Currency: US$
- Geography Covered: North America, United States, Canada and Mexico
- Segments Covered: Product Type and Application
- Report Customization: Although the publisher has tried to cover everything in the North America LED lighting market landscape, the publisher believes that every stakeholder may have their own specific needs. In view of this, the publisher provides up to 20-man hours of free customization for each report.
For more information about this report visit https://www.researchandmarkets.com/r/xfdpcb