LED Services Market 2019-2027

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LED SERVICES MARKET ANALYSIS

• LED Services Market, By Application (Residential
  (Home), Public Lighting (outdoor)(Smart Lighting,
  Street Lighting), Business Lighting (Indoor)
  (Government and Private)and by Region (North
  America, Europe, Asia Pacific, Latin America,
  Middle East and Africa) - Size, Share, Outlook,
  and Opportunity Analysis, 2019 - 2027

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Market Overview Light-emitting diode (LED) is a
semiconductor source of light that emits light
when current flows through it. LEDs are more
efficient, brighter, more cost-effective, and
more lasting than conventional incandescent
bulbs. These lights are cost-effective that
delivers around 50,000 hours of illumination with
a very small amount of energy consumption. As a
result of these advantages, LEDs are adopted in
various residential, business, commercial,
industrial, and public settings. Many developed,
as well as emerging economies, are encouraging
the use of LED lighting fixtures that can save
energy as well as costs. LED Services Market
includes lighting services such as
installation/design/maintenance/others provided
by commercial electrical/lighting
contractors/integrated solution providers. The
global LED services market was valued US 11.8Mn
in 2019 and expected to grow at CAGR of 11.1
over the forecasted period 2019-27.
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• Market Dynamics- Drivers
• Increasing installation of LED lighting due to
  longer lifespan is expected to drive growth of
  the global LED services market during the
  forecast period
• The major reason behind rising installation of
  LED light bulbs is the longer lifespan of LED
  lighting. LEDs have a longer lifespan, nearly
  about 100,000 hours, as compared to incandescent
  bulb with 1000 hours and CFL with 8000 to 10,000
  hours lifespan. LEDs can also reduce the labor
  cost and achieve lower maintenance work due to a
  longer operational life. Furthermore, LED
  lighting fixture is far more efficient than
  conventional incandescent bulbs. It has an
  efficiency of 80 to 90 as compared to
  conventional light bulbs with 20 efficiency. LED
  lights to use around 50 less energy than
  traditional incandescent and halogen options that
  are primarily employed for residential and
  commercial applications. Moreover, use of violet
  LEDs instead of blue with gallium nitride
  material offers longer life and greater
  efficiency. Thus, these factors are expected to
  drive growth of the market.

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• Long-term contracts offered by service provides
  is expected to propel the global LED services
  market growth over the forecast period
• Earlier, LEDs were limited to the residential
  application and some parts of the commercial
  segment. However, growing concerns related to
  energy efficiency, quality of lighting, and
  stringent environmental policies have increased
  installations LED lightings. Currently,
  conventional LED lighting fixtures are replacing
  traditional lighting systems. Moreover, concepts
  such as smart cities, smart homes, and smart
  street lighting are creating a demand for LED
  services. Hence, these factors are expected to
  propel the global LED services market growth over
  the forecast period.
• Europe region dominated the global LED services
  market in 2019, accounting for 35.2 share in
  terms of value, followed by North America and
  Asia Pacific, Middle East and Latin America
  respectively.

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• Market Dynamics- Restraints
• High initial costs related to LED devices,
  installation, and services are expected to hamper
  the global LED services market growth over the
  forecast period
• The major restricting factor for adoption of LED
  lightings is its relatively high initial
  installation costs as compared to substitute
  technologies such as CFL. This is due to the fact
  that LED performance majorly depends upon
  installation type and fixture. The fixtures need
  to be installed in such a way that minimum heat
  is generated by the LED.  Any harm to the LED
  chip by heat can lead to device failure.
  Therefore, adequate heat sinking is required to
  maintain longer life of the LED. Moreover, LED
  installation process in many applications may
  take a longer time and higher cost since the
  process includes site survey, designing,
  consulting, installation, and maintenance. Hence,
  these factors are expected to hamper the global
  LED services market growth over the forecast
  period.

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• Increasing demand for LED lighting architectural
  applications can present lucrative business
  opportunities
• The demand for LED lighting solutions has
  increased significantly in the recent past. This
  is owing to features such as RGB (red, green,
  blue) controllability, flexibility, and speed of
  color control. Previously, conventional lighting
  required high maintenance cost while RGB code
  colors are controlled by color film filters and
  also flexibility and speed of color control are
  limited. However, LED has overcome these
  drawbacks and can adapt to new applications.
  Thousands of LEDs are linked together and still
  can be controlled individually. This is a
  significant advantage over conventional lighting
  solutions. Furthermore, LED strips, outdoor wall
  fixtures, and LED bulbs are used to light
  architectural creations to create a uniform
  lighting, which looks impressive and people get
  attracted to the same.

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• Market Trends
• North America Trends
• Growing adoption of wireless lighting controls is
  a major trend in the market
• End users in North America are increasingly
  adopting wireless lighting controls due to
  advantages offered by these lightings such as
  Energy-efficient lighting systems, reduced
  run-time, and flexibility. Companies such as GE
  lighting have gained benefits of optimized
  performance, improved cost control, etc. For
  instance, GE has developed LightGrid, an
  Outdoor Wireless Control System for consumers
  within the North America region.
• Latin America Trends
• Increasing demand for public lighting application
• Demand for energy-efficient products and LED
  lighting has increased due to paradigm shift
  toward renewable energy. Various technology
  features of LED such as longer lifespan,
  energy-saving capacity, durability, flexibility
  are gaining the competitive advantage over other
  lighting products such as CFL and Incandescent
  lamps. The LEDs are witnessing significant demand
  in the region, owing to aforementioned
  advantages. Moreover, stringent government norms
  and regulatory policies toward energy
  conservation are driving growth of the regional
  market.

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Regulations Alabamas Local Government Energy
Loan Program offers zero-interest loans to public
schools and universities for energy efficiency
improvement projects that will pay back in
utility savings. Upgrades eligible for funding
include heating and cooling equipment, insulation
improvements, water-saving efficiency measures,
and energy-efficient lighting upgrades. Competiti
ve Section Key players operating in the global
LED services market are Thorlux Lighting, Bright
Special Lighting S.A., Cree Inc., LEDVANCE GmbH,
KKDC Co., Ltd., Philips Lighting Holding B.V.,
Global Light LLC, OPPLE Lighting Co., Ltd., Endo
Lighting Corp., Ideal Industries, and Reggiani
SPA. Segment information In global LED services
market, by application segment, the residential,
sub-segment dominated the global market in 2019,
accounting for 45.1 share in terms of value,
followed by Business lighting and public lighting
respectively.
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• Key Developments
• Major companies in the market are focused product
  launches, in order to expand product portfolio.
  For instance, in May 2017, Philips Lighting
  Holding B.V. introduced first integrated,
  connected LED lighting system designed for
  recreational sports fields. The Philips
  PerfectPlay system enables recreational sports
  centers to reduce energy costs, simplify
  operations, and maximize revenue potential while
  providing better quality lighting for sports
  events.
• In February 2017, Bright Special Lighting S.A.
  provided lighting solutions for the exhibit
  Melpomene, presented at the exhibition The
  Muses Project held at the house of Cyprus in
  Greece.

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