$ 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:

• Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
• Optimistic, probable, and pessimistic scenarios for all markets as the impact of pandemic unfolds
• Pre- as well as post-COVID-19 market estimates
• Quarterly impact analysis and updates on market estimates

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:
www.technavio.com/statistics/led-lighting-market-segmentation

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:

• Application
• General Lighting
• Backlighting
• Automotive Lighting
• Others
• Product
• Luminaires
• Lamps
• Geographic Landscape
• APAC
• Europe
• MEA
• North America
• South America

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

Related Reports on Information Technology Include:

Global LED Curtain Lights Market - Global LED curtain lights market is segmented by distribution channel (offline and online) and geography (Europe, North America, APAC, South America, and MEA). 
Request a Free Sample Report

Global OLED Display Market - Global OLED display market is segmented by technology (AMOLED and PMOLED), product (rigid and flexible), application (mobile devices, TV, wearables, and others), and geography (APAC, North America, Europe, South America, and MEA).
Request a Free Sample Report

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendors covered
• Vendor classification
• Market positioning of vendors
• Competitive scenario

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Website: www.technavio.com/
Report: www.technavio.com/report/led-market-industry-analysis

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