kmyled.geloLED LIGHTING MARKET TREND
Located ：Industry NewsLED LIGHTING MARKET TREND
LEDs are produced in a variety of shapes and sizes. It depends upon the usage of energy and application, for it being used. Miniature LED lights are the most common form of LED lights available. They are considerably small, and are available in single shape and color. LED lighting follows a value chain, which consists of three steps: upstream, midstream, and downstream.
The global LED lighting market is currently in its development phase. With increasing urbanization, growing concept of smart cities, greater need for energy efficacy, rapid advancements in technology, changes in public policy, and increasing demand for environmental sustainability, the global LED lighting market will grow along with all these factors. Asia-Pacific will hold relatively larger share in the coming years.
The global LED lighting market is expected to be driven by key factors such as rising LED penetration rate, falling prices of LED, phasing out of conventional lighting, rising industrial demand for power efficient lighting, favorable governmental policies and rising number of housing starts. However, industry growth is hindered by high initial cost set-up, complicated distribution channel, and slow reaction by bulk market consumers.