Policy makers in countries globally are vying to tackle the topic of lighting as countries and economies promote energy-efficient lighting solution. According to a UN Environment lighting market model incorporating more than 150 country lighting assessments, presently there are 7 billion incandescent lamps in service. The United Nations Environment Program projects annual global savings for lighting to be 640 TWh in 2030. Further, adoption of energy-efficient lighting would lower the global electricity demand for lighting by 30-40 per cent in the same year. As such, advanced lighting is perceived to be a market accelerator to help attain the energy-efficiency goal.
These actionable insights are according to the intelligence report, titled, “Energy-efficient Lighting Technology Market—Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2026,” which has been of late added to Market Research Reports Search Engine’s (MRRSE) exhaustive armamentarium.
With LED lamps and luminaries robustly expanding into general illumination applications globally, it has replaced traditional light sources with more efficient and better performing LED technology. Further, LEDs emitting almost monochromatic light make it highly efficient for colored light applications such as exit signs and traffic signal. Countries opting for phase-out incandescent lamps and opting LED will witness electricity savings of over 85% with longer service life.
Asia Pacific is set to dominate the energy-efficient lighting technology market as the region observes unprecedented adoption of LEDs in countries such as India, China. Further, North America and Europe are expected to provide lucrative opportunity to players in energy-efficient lighting technology market.
There has been trend for increasing efficacy as higher efficiency of LED sources has led to lower energy bills and significant reduction in CO2 emission. In addition, there has also been use of lighting control system to save energy consumption for lighting. The use of automated lighting management systems and personalized lighting settings through mobile apps are the trend that is taking the world by storm.
Energy-efficient Lighting Technology Market: Report Content
Qualitative and quantitative analysis underpin insightful report on the energy-efficient lighting technology market. Nevertheless, the report comprehensively elucidates facets of the market that are expected to have palpable impact on the growth of the energy-efficient lighting technology market. Those facets include drivers, restraints, opportunities and trends. Further, the report delineates segmentation of the market which aims at offering a thorough analysis on energy-efficient lighting technology.
A deep-dive and insightful analysis of the competitive landscape of the energy-efficient lighting technology market counts on Porters’ Five Force Analysis. Furthermore, the Porters’ Five Force Analysis provides an exhaustive analysis on the likely strategies of the leading players in the energy-efficient lighting technology market. Moreover, the business strategies hinges upon product portfolio, company overview, SWOT analysis, recent development and key differentiation.
Energy-efficient Lighting Technology Market: Research Methodology
Primary research and secondary research accentuate insightful report on energy-efficient lighting technology market, which provide in-depth assessment on the market. Accordingly, the report offers unbiased and reliable projections, and analysis that have considerable bearing on the historical data and market size. In addition, the report is based on primary sources which is propelled by in-depth and intelligent analysis from telephonic interview, well-ground experts, and exhaustive insights from seasoned analyst and surveys. On the other hand, the secondary sources hugely depends on press release, Factiva, trade journals, EC filing, governmental websites and resourceful database.
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