In a recently published report, LED Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for LED Market products.
Download Sample of This Strategic Report: https://www.kennethresearch.com/sample-request-10325640
Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.
Global Light Emitting Diodes (LED) Market worth USD 28.89 billion in 2016 and expected to reach USD 71.35 billion by 2021, at a CAGR of 19.8% from 2016 to 2021. Our industry experts anticipate that within the LED market, the ultraviolet LED is expected to be the fastest growing technology segment, growing at a CAGR ranging from 30% to 35% during the forecast period. In addition, the mobile device is expected to be the fastest-growing application segment, growing at a CAGR ranging from 20% to 25%. Asia-Pacific, on the other hand, is expected to be the fastest-growing geographic segment, growing at a CAGR of more than 25% by 2021.
KEY BENEFITS OF THE REPORT:
In-depth analysis of the key factors are propelling the growth of the global market. Detailed analysis of the geographic region that will witness the strongest growth. Granular analysis of the current market scenario and the expected market grow.
KEY PREMIUM INDUSTRY INSIGHTS:
The longer life cycle of LED devices, decreasing cost of LED lamps and LEDs, increase in demand of energy conservation and trending energy efficient lifestyle, increasing display and large screen backlighting market.
Unlike incandescent bulbs and other emitting devices LEDs does not scatter harmful gasses which affect nature and have a better life span and are nature-friendly, this is some major reasons for the growing market trend towards LEDs. However, huge initial investment in LED installations is expected to hamper the growth of LED market. As all the incandescent bulbs are being replaced by LEDs, an increase in demand for general lighting and high efficacy of LEDs is expected to provide the significant growth opportunities to the LED market.
This report analyzes the LED market by the following segments:
LED Market, by Technology
High brightness LED
LED Market, by Applications
Signals and Signage
KEY MARKET PLAYERS:
Key players in the LED market include:
Toyoda Gosei Co. Ltd.
International Light Technologies Inc.
Lumileds Holding B.V.
Samsung, Seoul Semiconductors Co., Ltd.
OSRAM Licht AG,
General Electric Company
Request For Full Report:https://www.kennethresearch.com/sample-request-10325640
About Kenneth Research
Kenneth Research is a reselling agency providing market research solutions in different verticals such as Automotive and Transportation, Chemicals and Materials, Healthcare, Food & Beverage and Consumer Packaged Goods, Semiconductors, Electronics & ICT, Packaging, and Others. Our portfolio includes set of market research insights such as market sizing and market forecasting, market share analysis and key positioning of the players (manufacturers, deals and distributors, etc), understanding the competitive landscape and their business at a ground level and many more. Our research experts deliver the offerings efficiently and effectively within a stipulated time. The market study provided by Kenneth Research helps the Industry veterans/investors to think and to act wisely in their overall strategy formulation
Email : Sales@kennethresearch.com
Phone: +1 313 462 0609