Global LED Displays, Lighting and Fixtures Market: Snapshot
As per a report published on Energy.gov, which holds a lot of records of the Federal Government, global revenue for packaged LEDs is expected to reach $21.57 billion by the end of 2019. Furthermore, lightning revenue is expected to $9.10 billion in 2019.
LED is a flat panel display that uses the light emitting diode and used outdoors for store designs and billboards. LED displays are proficient for general illumination to a visual display, as when used for stage lighting. LEDs are used in various applications for styling purpose, as LEDs can form much thinner lights with parabolic reflectors.
According to a recent business intelligence report released by IndustryARC, the global LED displays, lighting, and fixtures market size was between $70 billion to $75billion as of 2018, and it is projected to grow at a CAGR of around 12% to 14% during the forecast period of 2019 to 2025.
Global LED Displays, Lighting and Fixtures Market: Competitive Landscape and Recent Developments
- Philips Lighting Holding B.V.: Hue Bulbs and Wireless Connected Lightning System
In May 2018, Philips decided to change the name from Philips Lighting to Signify. Total revenue of Philips was valued to be $20.5 billion in 2018 from products and solutions sold. Philips Hue has come up with the recent innovation with 16 million colors of any shade of white light. Hue bulbs and lighting system can be operated via the Philips Hue mobile app and user can change the light color according to the mood and house environment. It can work with different smart devices. Furthermore, Hue is capable of connecting with Amazon Echo, Google Home, and Apple home kit is the major reason that helps Philips to position itself in the LED displays, lighting and fixtures market.
- General Electric Company:
General Electric Company total revenue was valued to be $121. 61 billion in 2018. The Latest release of GE Company is C-sleep. C-sleep is Bluetooth enabled and voice controllable smart bulb help to support sleep and wake up the cycle of the consumer. One LED smart bulb contains 2 color setting that is adjustable and paired with voice assistant such as Google Home, Amazon Alexa, and smartphone control C by GE app. The emergence of this smart and energy-saving bulb is observing a demand increase in the LED displays, lighting and fixtures market.
- Samsung: Display Solutions
Samsung’s product line in LED displays, lighting, and fixtures market includes Display Solutions and MagicInfo Solution. Samsung successfully leverages its digital content and solutions by various innovations to extract maximum ROI for growth in business. Recently at ISE 2019, Samsung introduced the future of commercial display 8K and 8K HDR technology. In June 2018, MSL Group was incorporated with Samsung Flip, for optimal displays that can be used for meetings and conference purpose.
Global LED Displays, Lighting and Fixtures Market: Growth Drivers
Positive economic environment and increasing focus of the manufacturers on research and developments opportunities to bring unique and fresh content in front of consumers are flourishing LED displays, lighting and fixtures market. Government development project and investment on the building transportation infrastructure such as an airport, train, and metro drives the demand for at LED displays, lighting and fixtures market with the faster pace. Red LEDs are used in road signs and digital boards on public area as an indicator, as other color lights are not enough to illuminate an area.
Global LED Displays, Lighting and Fixtures Market: Leading Segments
According to the recent study by IndustryARC analyst, APAC is positioned as the leading region with global displays, lighting and fixture market share valued to be around 35% – 38% in 2018. Digital Signage application is driving the market with the impressive CAGR of 16% – 18% through to 2025.
LED displays are proficient for general illumination to visual display. Positive economic environment and increasing focus of manufacturers on research and developments opportunities to bring unique and fresh content in front of consumers are flourishing LED displays, lighting and fixtures market. Digital Signage application is driving the LED displays, lighting and fixtures market.
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