Bangalore, India, June 27, 2017 (Newswire.com) - The LED business in the last year has done tremendously well and has mostly led to a positive outlook for the LED industry, according to Infoholic Research. At a global scale in 2016, LED revenues from the general lighting sector were up by 7 percent and Automotive was even higher at 9 percent; however, the mobile and display markets were seen on a slight decline.
Indian LED market accounted for $302 million in revenues from lighting in 2016 (according to Infoholic Research study), and witnessed tremendous growth throughout the year, with support from Industry and government. The price in India for LED lighting has seen a huge decline pushing for greater adoption among masses coupled with government initiative for energy saving.
According to LED convention (Leaders’ projection at an event in California) and market data, “the LED lamp market is projected to grow from 1.7 billion units in 2015 to 4.5 billion units in 2022. But declines in average selling prices (ASPs) will mean that revenues will begin a steady decline around 2019.”
One of the major areas where LED will make an impact will be IoT and the connected lighting market. LED is also revolutionizing the health care industry. Across Scandinavia and other Nordic countries, close to 90 hospitals have modernized 500 endoscopic and related surgery and examination rooms with tuneable, coloured LED lighting. Doctors, nurses, and clinicians have all witnessed that it has not only improved their ability to see anatomical details, but has also invigorated their alertness level and reduced their stress.
In sports, OSRAM is equipping the BMW Motorsport team with eyewear that emits a heavy dose of blue frequencies, which are known as a stimulant. This will enhance their alertness and boost their confidence.
The blue LED light prepares them for the race by stimulating the central nervous system. Special luminaires are also installed in common rooms and the pit wall control centre for the benefit of both drivers and engineers.
With the industry poised for growth, leading companies are on a lookout for suitable acquisitions. One of the top LED light manufacturers, OSRAM, has recently announced the acquisition of a CA-based LED Engin. LED Engin has annual sales of around $10 million.
Download PDF: LED Market in India 2016-2022 - https://goo.gl/1AhtLd
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Source: Infoholic Research