LED Lighting Market

Market Leaders - LED Lighting Market

LED lighting has become a key focus area to reduce the energy consumption and carbon emissions. The European market is currently at the forefront of implementing energy-efficient lighting systems because most countries in this region are targeting a substantial reduction in energy consumption by the end of this decade; however, North America is quickly catching up. Moreover, the market in APAC is expected to dominate and also grow at a high rate. The LED lighting market is experiencing a large number of activities in terms of new product launches, contracts, partnerships, agreements, mergers and acquisitions, expansions, and others such as research and development

The main building blocks of the value chain of the LED lighting market are original equipment manufacturers (OEMs), suppliers, system integrators, distributors, and end users. In the existing scenario, the companies that develop lighting products which are compatible with various connecting standards hold the dominant position in the market. In the race for market leadership, Philips Lighting (Netherlands) is ahead of the other players in the LED lighting market with more than 100 years of experience in the lighting and electronics industry.

Philips Lighting Holding B.V. (Netherlands) has been ranked first in the LED lighting market. Capturing market opportunities and creating value for its customers is the core competency of the company. The developed market experience and brand name have enabled the company to capitalize on the fundamental market dynamics taking place in the lighting industry and deliver innovative solutions that create value and ensure its growth. The company aims to further invest in LED leadership while capitalizing on a broad product portfolio, widespread distribution, and strong brand in conventional and LED lighting by anticipating and managing the phase-out of conventional products. This key strategy helped Philips win numerous contracts to supply connected LED systems and other lighting control equipment. For instance, in 2014, Philips entered into a contract with the government of Spain to provide the city of Madrid with 225,000 energy-efficient street lights. The renewal of the city’s entire street lighting system makes it the world’s largest street lighting upgrade to date.

General Electric Company (U.S.) has been ranked second in this market. GE is working with several other companies and government agencies across the U.S. to implement LED technology in parking lots and garages and streets to help improve lighting during the night to increase safety and security. The company has undertaken projects to illuminate parking spaces with LED street lights across several cities in the U.S. It is also testing its intelligent cities platform which can improve city traffic through efficient street lighting and signaling and achieve reduced energy consumption. GE is also collaborating with retail outlets to enhance the shopping experience through the efficient use of LED lighting.

OSRAM (Germany) has been ranked third in the LED lighting market. OSRAM announced its intention to increase its focus on the automotive lighting, smart lighting, and LED components market. By adopting the strategy of reorganizing business segments and eliminating underperforming businesses, the company seeks to target business-to-business (B2B) and semiconductor markets where there is scope to earn higher profit margins. The company is expanding its LED chip-based investments and facilities in Germany and Malaysia. R&D and innovation are its prime strengths and the company is expected to rely on that for future expansions in the market. It has launched several new products for automotive lighting, smart lighting, and other lighting applications.

Related Reports:

LED Lighting Market by Installation Type (New Installation and Retrofit Installation), End-Use Application (Indoor Lighting and Outdoor Lighting), Product Type (Lamps and Luminaires), and Geography - Global Forecast to 2022

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