Skip to main content

Declining Prices Boosting LED Deployment for Lighting

As the world is marching toward energy-efficient lighting solutions, owing to the surging environmental concerns, individuals, organizations, and governments are focusing on the adoption of light-emitting diode (LED)-based lighting solutions. As compared to conventional lights, LEDs have longer operational life and lower maintenance costs. The ability of smart LED solutions to change their color enables them to create an ambient indoor experience.



Owing to these advantages, several governments are taking multiple initiatives to replace conventional lighting solutions with LED systems. For example, in 2019, the government of Tamil Nadu, an Indian state, issued a tender to replace the existing conventional street lights of Coimbatore with energy-efficient and smart LED lights.The declining cost of LEDs have fueled their penetration in the residential, industrial, and commercial sectors.

Owing to this factor, the LED lighting market will progress at a CAGR of 12.9% during the forecast period (2020–2030). The market was valued at $67.6 billion in 2019 and it is expected to reach a revenue of $262.8 billion by 2030. The substantial drop in the LED prices can be credited to the advancements in lighting technology, which have led to greater operational efficiency and higher life expectancy of LED lights.

Over the years, smart LED lighting solutions have become quite popular due to their higher energy efficiency than traditional lighting solutions. The adoption of smart LEDs helps in reducing the cost burden on residential and commercial users, as these lights enable energy savings. Other characteristics of these lights include motion activation technology, automatic off/on, and adaptive lighting.

This market research report provides a comprehensive overview of the market
  • Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants
  • Historical and the present size of the market segments and understand their comparative future potential
  • Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings

Comments

Post a Comment

Popular posts from this blog

BFSI Using Advanced Security Solutions to Protect Data and Financial Assets

Banks and financial institutions are gradually shifting their core applications over to the cloud network, to offer a personalized banking experience, mitigate the risks associated with conventional technologies, improve the operational control of platforms, reduce capital expenditure, and meet the growing need for real-time analysis of high-volume data. However, the deployment of the cloud infrastructure escalates the risk of cyberattacks, as the data is stored at remote locations.  Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/bfsi-security-market/report-sample To combat the cyber threat, such institutions are increasingly adopting a range of advanced security solutions. The financial service sector has become a prime target for cybercriminals, as it centers around financial assets and generates massive unstructured data. Moreover, progressive steps such as the adoption of online banking and shift toward digital processes have increased the pro
Post a Comment
Read more

RF Semiconductor Market a $5.0-Billion Investment Opportunity by 2030

The major factors leading to the rising demand for radiofrequency (RF) semiconductors are the increasing popularity of smartphones, enhancements in the wireless communication technologies, and escalating adoption of the internet of things (IoT). As a result, from $2.1 billion in 2019, the market of RF semiconductor will witness an 8.8% CAGR during 2020–2030 (forecast period), to reach $5.0 billion by 2030. Made of semiconductor materials, such components enable RF communication in an array of sectors. Get the Sample Copy of this Report @ https://www.psmarketresearch.com/market-analysis/rf-semiconductor-market-report/report-sample The material segment of the market is classified into indium phosphate, gallium arsenide, gallium nitride, silicon, and silicon germanium. Among these, during the historical period (2014–2019), the largest share was held by the gallium arsenide category because RF semiconductors made from this material consume less power, account for low power dissipation, ca
Post a Comment
Read more

How Is Consumer Electronics Sector Helping Silicon on Insulator Market Grow?

Currently, the major players of the silicon on insulator market are taking strategic measures, such as product launches, facility expansions, partnerships, geographical expansions, client wins, and mergers and acquisitions, to gain a competitive edge in the market. For example, in January 2019, Soitec SA extended its collaboration with Samsung Foundry to increase the volume supply of FD-SOIs.  With the new agreement, these companies extended their partnership and secured a high-volume supply of FD-SOI wafers to cater to the surging demand for SOI wafers in consumer, automotive, and internet of things (IoT) applications. The wafer type segment of the silicon on insulator market is categorized into radio-frequency SOI (RF-SOI), power-SOI, imager-SOI, photonics-SOI, fully depleted SOI (FD-SOI), and partially depleted SOI (PD-SOI).  In 2018, the RF-SOI category generated the highest revenue, due to the escalating use of RF-SOI in advanced LTE smartphones and huge investments made in the
Post a Comment
Read more