LED Lamp Market Types, Applications and Opportunity by 2024
Category: #headlines  By Ronak Bora  Date: 2022-07-12
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LED Lamp Market Types, Applications and Opportunity by 2024

The LED lamp market is projected to exceed $13 billion valuation by 2024. Industry is projected to experience tremendous growth in the forthcoming years with growing demand for improved lighting solutions and increasing adoption across commercial, industrial and residential sectors.

There has been a significant reduction in prices, which subsequently has attracted the attention of several large-scale enterprises, further boosting their adoption on a bigger scale.  Meanwhile, technological advancements like COB (Chip on Board) LED Array and OLED lighting can also be attributed for the projected growth of the market share in future.    

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The general-purpose LED product segment is anticipated to be the highest contributor towards the market share over the forthcoming years, primarily due to their multi-purpose usage. Additionally, with the emergence of general purpose as an ideal replacement for the ageing, traditional lamps is another determinant impelling industry expansion.

Shifting customer focus on the use of energy-efficient lighting is likely to be one of the core drivers propelling demand for general-purpose over the forecast period. General-purpose lamps also boast of a whole host of benefits over traditional lamps, including adjustable illumination and longer product life, which may emerge as a stimulating factor driving their demand in the future.  

The Europe LED lamp market size is anticipated to showcase momentous growth, dominating the overall market outlook over the forecast timeframe. This growth can be attributed towards the rising demand for smart home options and adoption of smart lighting in the region. The prices have reduced by approximately 80-90 percent in the region over the past number of years.  

Since 2012, Europe has implemented an eco-design measure, which solely focuses on driving the market landscape towards the adoption of highly efficient LED lamps. This provides Europe LED lamp market an ideal growth ground to generate revenue from.     

Some of the prominent market players in the global market are General Electric Company, Samsung, Osram, Philips, Eaton Corporation, and Cree, Inc.

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Table Of Content

Chapter 3   LED Lamp Industry Insights

3.1   Industry segmentation

3.2   Industry growth landscape, 2013 - 2024

3.3   Industry ecosystem analysis

3.3.1    Distribution channel analysis

3.3.2    Vendor matrix

3.4   Technology landscape

3.4.1    Chip on board (COB) LED-array

3.4.2    OLED lighting

3.4.3    LED use in Li-Fi communication

3.5   Raw material analysis

3.6   Regulatory Landscape

3.6.1    U.S.    Institute of Electrical and Electronic Engineers (IEEE)    Illuminating Engineering Society of North America (IESNA)    American National Standards Institute (ANSI)

3.6.2    EU    Regulation 1194/2012    Energy Labels    Energy-related Products (ErP) Directive

3.6.3    China    GB30255-2013 regulations    GB/T2408-2014 regulations

3.7   Pricing analysis

3.7.1    Regional pricing trends

3.7.2    Cost structure analysis

3.8   Industry impact forces

3.8.1    Growth drivers    Reduction in LED prices    Increasing demand for energy efficient lighting    Favorable government initiatives    Infrastructure development projects    Growing usage in public spaces and street lightings

3.8.2    Pitfalls and challenges    Reduced replacement frequency    Effects of blue light

3.9   Innovation & sustainability

3.10   Growth potential analysis

3.11   Porter’s analysis

3.12   Competitive landscape, 2016

3.13   PESTEL analysis

Chapter 4    LED Lamp Market, By Product

4.1   Global market share, by product, 2016 & 2024

4.2   General Purpose LED

4.2.1    Market estimates and forecast, 2013 – 2024

4.2.2    Market estimates and forecast, by region, 2013 – 2024

4.3   Decorative LED

4.3.1    Market estimates and forecast, 2013 – 2024

4.3.2    Market estimates and forecast, by region, 2013 – 2024

4.4   Specialty LED

4.4.1    Market estimates and forecast, 2013 – 2024

4.4.2    Market estimates and forecast, by region, 2013 – 2024

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About Author

Ronak Bora

Ronak Bora    

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...


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