Global Industrial and Commercial LED Lighting Market to grow $39.39 billion by 2025 according to a new research report – WhaTech

High demand for cost-effective and energy-saving LED lighting, increased need for replacement of old, traditional lighting, and government campaign toward LED adoption are the major drivers of the global industrial and commercial LED lighting Market. However, voltage sensitivity & temperature dependence of LED lighting hampers market growth. On the contrary, increase in adoption of smart lighting is expected to create lucrative opportunities in the near future.

The global industrial and commercial LED lighting marketwas pegged at $9.06 billion in 2017 and is projected to garner$39.39 billionby 2025, registering aCAGR of 19.9%during the period 20182025.

Based on application, the market is divided into indoor lighting and outdoor lighting. In 2017, the segment accounted for the largest share, contributing about three-fourths of the total market, owing to benefits such as less power consumption and enhanced light versatility.

However, the outdoor lighting segment is projected to manifest the fastest CAGR of 21.4% during the study period, owing to rise in need for longer service life of light panel/bulbs along with brighter light in outdoor applications.

Report: http://www.alliedmarketresearch.co/462

On the basis of end user, the market is bifurcated into industrial and commercial. The industrial segment held the largest share in 2017, accounted for nearly two-thirds of the total market.

However, the industrial segment is estimated to portray the fastest CAGR of 20.7% during the forecast period.

Based on geography, the market is divided into North America, Asia-Pacific, Europe, and LAMEA.

The market in the Asia-Pacific region held the largest share in 2017, contributing more than one-third of the total market, owing to increased adoption of smart devices in the region. However, the LAMEA region is expected to register the fastest CAGR of 21.5% during the forecast period, owing to high adoption rate of advanced systems and solutions in various industry verticals.

Report:www.alliedmarketresearch.com/request-sample/462

The report includes an analysis on the major market players in the region such as Cree Inc., Eaton Corporation, Dialight PLC, Deco Enterprises, Inc., General Electric Company, Osram Licht AG, Toshiba Corporation, Koninklijke Philips N.V., Syska, and Zumtobel Group AG.

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Global Industrial and Commercial LED Lighting Market to grow $39.39 billion by 2025 according to a new research report - WhaTech