A recent report published by Infinium Global Research on led services market provides in-depth analysis of segments and sub-segments in the global as well as regional led services market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional led services market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global led services market. According to the report, the global led services market is projected to grow at a CAGR of 10.3% over the forecast period of 2019-2025.
LED services market is consists of lighting services in design, maintenance, installation, and others. It is provided by integrated solution providers and commercial electrical contractors. Sponsorship of industry events and long term lighting contracts are some strategies for the success of LED services market. The LED lighting provides competitive advantages over traditional lighting such as increasing productivity, better quality control, easy operation, safety, cost efficiency, requires less maintenance and reduces light energy consumption.
Increasing adoption of LED lighting product within the public lighting application segment such as smart street lighting is the primary driver for the LED services market. Furthermore, the need for energy-efficient lighting, favorable government regulations, growing environmental awareness, and cost-effective light solution are driving the demand for LED services market. The government gives funding to a manufacturer who extends the purpose of LED lights across different commercial, industrial and residential sectors and helps a consumer to purchase it at relatively low cost. However high cost associated with the LED light setup is hampering the growth of the LED service market. Moreover rapidly growing automotive industry offers immense opportunity for the usage of LEDs in headlamps, brake light, and rear lamp and turns signal. Additionally, rising infrastructural funds, positive government approach towards smart building and growing development of street lighting systems provide opportunities for the growth of LED services
The geographically LED services market is segmented into Asia Pacific, North America, Europe, and RoW. North America is the largest market player in the global LED services market owing to its focus on energy-efficient lighting solutions, changing government policies and regulation and infrastructure development.
The report on global led services market covers segments such as application. On the basis of application, the sub-markets include public lighting, business lighting, and residential lighting.
The report provides profiles of the companies in the market such as LEDVANCE GmbH, Philips Lighting, Reggiani Spa Illuminazione, Bright Special Lighting S.A., OPPLE Lighting Co. Ltd, Thorlux Lighting, Endo Lighting Corp, Global Light LLC, KKDC Co. Ltd, Cree Inc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of led services market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.