$ 25.78 Billion growth in Global LED Market 2020-2024 | Technavio
NEW YORK, June 15, 2021 /PRNewswire/ --
The LED market is expected to grow by USD 25.78 billion during 2020-2024, according to Technavio. The report offers a detailed analysis of the impact of the COVID-19 pandemic on the LED market in optimistic, probable, and pessimistic forecast scenarios.
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With the continuing spread of the coronavirus pandemic, organizations across the globe are gradually flattening their recessionary curve by leveraging technology. Many businesses will go through response, recovery, and renewal phases. Building business resilience and enabling agility will aid organizations to move forward in their journey out of the COVID-19 crisis towards the Next Normal.
Key Considerations for Market Forecast:
The LED market is driven by the declining manufacturing cost of LEDs. In addition, the growing number of households and increasing urbanization are expected to trigger the LED market toward witnessing a CAGR of almost 13% during the forecast period.
Get more details about industrial dynamics, competitor landscape, growth trends, and other statistics related to LED market:
Major Five LED Market Participants:
Acuity Brands Inc.: The copany offers various LED products such as CLX linear LED strip light, ZL series LED strip light, contractor LED dual strip light, and ZL series LED strip light.
Bridgelux Inc.: The company offers products for interior decoration and home renovation under the brand name Cello.
Cree Inc.: The company offers LED bulbs, LED lighting, LED chips, and LED components.
Eaton Corp. plc: The company offers Closet Rod 1.5, CoviO, LEDge, and other LED models.
GENERAL ELECTRIC: The company offers LED+, LED grow lights, HD LED, and vintage LED bulbs.
LED Market 2020-2024: Segmentation
The led market is segmented as below:
Get more insights about the global trends impacting the future of the LED market, Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR41086
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