Market Overview

An LED light bulb or lamp is an electric light that is primarily used in light fixtures by using one or more light-emitting diodes. LED lamps are energy-efficient, have a longer lifespan, and use only a fraction of energy as compared to equivalent incandescent lamps. LED lights emit around 90% lesser heat than incandescent lamps. In the recent past, the prices of architectural LED products have decreased significantly, which in turn, has increased its adoption for various applications. In architectural lighting, both technology and art are used to attain aesthetically pleasant lighting and energy-efficient lighting. The architectural lighting is done for commercial as well as residential projects. According to Coherent Market Insights’ analysis, the average selling price of LED products declined by 20% in 2014.

The global architectural LED products market is estimated to account for US$ 8,067.3 Mn in terms of value by the end of 2019

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Market Dynamics

Reduction in overall energy consumption in LED lights as compared to traditional lamps, and increasing utilization of lighting as a service (LaaS), is expected to propel the demand for architectural LED products over the forecast period.

In addition, increasing numbers of initiatives are taken by the central government of many countries such as India, China, for implementation of LED lamps for the household and commercial applications, is further expected to attribute the demand for architectural LED products over the forecast period. For instance, in January 2015, the Indian government launched Unnat Jyoti by Affordable LEDs for All (UJALA) program and LED Street Lighting National Programme (SLNP) program, for increasing adoption of energy-efficient lighting across the country. Moreover, according to the Ministry of Power, under the SLNP program over 1.03 core smart LED streetlights have been installed, by January 2020.

Detailed Segmentation:

Global Architectural LED Products Market, By Product Type:

Solar

Conventional

Lamp

Strip

Linear

Global Architectural LED Products Market, By End-use:

Residential

Retail

IT & Telecommunication

Banking, Financial Services & Insurance (BFSI)

Commercial

Media & Entertainment

Healthcare

Others (Places of Worship, Government Offices, Museums)

Global Architectural LED Products Market, By Application:

Cove Lighting

Backlight

In Ground

Wall Washing

Others

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Competitive Section

Key companies operating in the global architectural LED products market are Epistar Corporation, GE Lighting LLC, Galaxia, Cree Inc., Cooper Industries PLC, Signify N.V., Philips Lumiled Lighting Company LLC, Verbatim Ltd., Osram Licht AG, Toshiba Lighting & Technology Corporation, and Samsung Electronics.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.




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