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Light-Emitting Diode (LED) Market size is set to grow by USD 219.8 million from 2024-2028, Growing adoption of energy-efficient lighting technologies boost the market, Technavio

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NEW YORK, July 9, 2024 /PRNewswire/ — The global light-emitting diode (LED) market is estimated to grow by USD 219.8 million from 2024 to 2028, at a CAGR of 18.52%, according to Technavio. The market growth is driven by the growing adoption of energy-efficient lighting technologies, with a trend towards intelligent lighting systems. However, the high average cost per fixture poses a challenge. Key market players include Acuity Brands Inc., ams OSRAM AG, and Samsung Electronics Co. Ltd. The target market for LED lights includes residential, commercial, industrial, and outdoor applications.

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Light-Emitting Diode (LED) Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 18.52%

Market growth 2024-2028

USD 219.8 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

15.16

Regional analysis

APAC, Europe, North America, South America,
and Middle East and Africa

Performing market contribution

APAC at 51%

Key countries

US, Taiwan, Japan, UK, and Germany

Key companies profiled

Acuity Brands Inc., ams OSRAM AG, Bridgelux
Inc., Dialight Plc, Eaton Corp. Plc, Ennostar Inc.,
EVERLIGHT ELECTRONICS CO. LTD., General
Electric Co., GrowRay Lighting Technologies,
Havells India Ltd., LITE ON Technology Corp.,
Lumileds Holding BV, Nichia Corp., Samsung
Electronics Co. Ltd., Seoul Semiconductor Co.
Ltd., Sharp Corp., Signify NV, SMART Global
Holdings Inc., Toyoda Gosei Co. Ltd., and
Zumtobel Group AG

Market Driver

The digital revolution is transforming the lighting industry with the adoption of intelligent lighting systems and controls. Energy efficiency and cost savings are key drivers for businesses seeking to upgrade their lighting. Intelligent LED fixtures incorporate occupancy and daylight sensors, automatically adjusting artificial lighting based on natural daylight. Wireless controls enable easy adjustment of lighting settings. In industrial and outdoor applications, long-lasting LEDs withstand harsh conditions and offer energy savings. LEDs integrated with sensors and controls optimize energy usage and provide valuable data for energy analysis and maintenance. The increasing demand for these advanced lighting solutions will fuel market growth during the forecast period. 

The LED market is thriving in the lighting technology sector, with LED lighting becoming increasingly popular due to its energy efficiency and longer lifespan compared to traditional bulbs. LED technology is not just limited to lighting but also used extensively in display backlighting applications, such as TVs and computer monitors. LED products, including LED bulbs, fixtures, panels, screens, signage, and street lights, offer cost-effective financial savings in the long run. Backlighting, a key application of LED technology, is a trending area with its use in ceiling lights, LED drivers, and LED grow lights. The LED value chain includes LED chips and components, which are environment-friendly and free from harmful substances like mercury. The production cost of LED products is decreasing, making them more accessible to businesses and consumers. LED technology’s energy efficiency and cost savings have led to its widespread adoption in various industries, including advertising, horticulture, and outdoor lighting. Despite the initial investment, the financial savings and environmental benefits make LED lighting a sound business decision. 

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Market Challenges

The LED market faces challenges due to the higher initial costs for consumers, which include the expense of LED fixtures and installation labor. In older homes, the need for electrical system renovations increases these costs. Additionally, the adoption of smart lighting solutions involves extra expenses for IoT infrastructure. Price variations among manufacturers for smart lighting products further hinder market growth. Despite declining Average Selling Prices (ASPs) for LED lighting products, these factors impede widespread adoption.The LED market is thriving, with LED lighting leading the charge as the new energy-efficient alternative to traditional incandescent light sources. LED bulbs and fixtures offer numerous benefits, including longer lifespan, energy savings, and versatility in applications. From LED displays and signage to LED panels and screens, the industry is innovating at a rapid pace. LED technology is used in various sectors, including street lights, grow lights, floodlights, tubes, downlights, headlights, and more. LED manufacturers and suppliers are investing heavily in research and development to improve production, materials, components, and controllers. The LED market trends reflect a shift towards sustainable and cost-effective lighting solutions, making it an exciting space for businesses and consumers alike.

For more insights on driver and challenges – Request a sample report!

Segment Overview 

This light-emitting diode (led) market report extensively covers market segmentation by  

Product 1.1 Luminaires1.2 LampsApplication 2.1 General lighting2.2 Automotive lighting2.3 Backlight2.4 OthersGeography 3.1 APAC3.2 Europe3.3 North America3.4 South America3.5 Middle East and Africa

1.1 Luminaires-  The Light-Emitting Diode (LED) market is experiencing significant growth due to its energy efficiency and long lifespan. LED lights consume less power than traditional bulbs, making them cost-effective for businesses. Additionally, LED technology offers various color options and can be used in various applications, from indoor lighting to outdoor signs. Companies are investing in LED technology to reduce energy costs and enhance their brand image through visually appealing lighting solutions.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The LED market encompasses various applications of Light-Emitting Diodes (LEDs), including LED lighting, energy-efficient bulbs and fixtures, LED displays, signage, strips, and backlighting. LED technology offers numerous advantages such as energy efficiency, long lifespan, and versatility. It is increasingly being adopted for innovative uses like LED grow lights, floodlights, tubes, and advanced solutions for backlighting, engineering, and design. Ongoing research and developments in LED production, materials, modules, and engineering continue to expand its applications and benefits. LED innovations include improvements in color rendering, dimming capabilities, and smart connectivity, making it a preferred choice for various industries and consumers.

Market Research Overview

The Light-Emitting Diode (LED) market refers to the global industry dedicated to the production, development, and application of LED technology for various lighting and display purposes. LED lighting is a revolutionary energy-efficient alternative to traditional incandescent light sources, using semiconductor materials to emit light directly from electrical energy. LED technology is utilized in various applications, including LED bulbs, fixtures, displays, signage, street lights, strips, backlighting, grow lights, floodlights, tubes, downlights, headlights, and more. LED innovations offer numerous benefits, such as cost-effectiveness, longer lifespan, and environment-friendly production, as they do not contain mercury like traditional bulbs. LED market trends reflect the continuous advancements in LED technology, including improvements in efficiency, design, engineering, and production processes. The LED industry is a dynamic and innovative sector, with ongoing research and development efforts to expand its applications and offer financial savings to consumers.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductLuminairesLampsApplicationGeneral LightingAutomotive LightingBacklightOthersGeographyAPACEuropeNorth AmericaSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Siemon Announces Optical Patching Solutions for GenAI Networks Using NVIDIA Accelerated Computing

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Siemon announces it is offering its full range of optical patching solutions to work specifically with NVIDIA AI infrastructure for generative AI networks.

WATERTOWN, Conn., Sept. 22, 2024 /PRNewswire-PRWeb/ — The Siemon Company, a global leader in network infrastructure solutions, today announced it is offering its full range of optical patching solutions to work specifically with NVIDIA AI infrastructure for generative AI networks. Large complex GPU clusters can benefit from using structured cabling patch panels versus point-to-point cabling. Siemon acts as a trusted advisor to customers by providing expert advice and best practice recommendations for design & deployment of NVIDIA AI Infrastructure.

“Siemon is very familiar with NVIDIA reference architectures and has worked with many customers to design and deploy NVIDIA clusters… Siemon offers a full range of AI-ready fiber cabling, DAC, and AOC solutions that support 400G, 800G, and 1.6T applications.”

As part of the solution integration, Siemon has joined the NVIDIA Partner Network (NPN) as a Solution Advisor Consultant. NPN Solution Advisor Consultants provide consultation services and expert advice to customers looking to implement NVIDIA-based solutions or technologies. Siemon joins the network to offer its expertise in addressing the unique infrastructure and cabling challenges presented by accelerated computing.

NVIDIA optical reach specifications are calculated assuming two optical patch panels are used in the link and assuming each employ two optical connectors, which makes for a total allowance of four optical connectors in the link. The Siemon optical patching solutions meet NVIDIA requirements and provide customers with flexibility and ease of management.

Media Contact

Brian Baum, Siemon, 1 8609454200, brian_baum@siemon.com

View original content:https://www.prweb.com/releases/siemon-announces-optical-patching-solutions-for-genai-networks-using-nvidia-accelerated-computing-302254640.html

SOURCE Siemon

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AMSimpkins & Associates Awarded Wisconsin Technical Purchasing Consortium Contract RFB 25-002TP – for Identity Verification Solutions

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AMSimpkins & Associates has been awarded the Wisconsin Technical Colleges Purchasing Consortium (WTC-PC) contract for Identity Verification Solutions. This partnership includes providing their advanced S.A.F.E. (Student Application Fraudulent Examination) platform to 16 Wisconsin technical colleges, enhancing security and safeguarding against fraudulent student applications. With a focus on higher education, AMSA aims to support these institutions in maintaining the integrity of their admissions processes and preventing identity fraud. This collaboration underscores AMSA’s commitment to delivering innovative solutions tailored for the education sector.

ATLANTA, Sept. 22, 2024 /PRNewswire-PRWeb/ — AMSimpkins & Associates is proud to announce its selection by the Wisconsin Technical College System Purchasing Consortium (WTC-PC) to provide Identity Verification Solutions through the S.A.F.E. platform. The WTC-PC comprises 16 independent, publicly funded two-year technical colleges across Wisconsin, including Blackhawk Technical College, Chippewa Valley Technical College, Fox Valley Technical College, and Milwaukee Area Technical College, among others.

“We are honored by the Wisconsin Technical College Consortium’s trust in AMSA. This partnership further emphasizes our commitment to providing secure, innovative identity verification solutions that support the needs of educational institutions in protecting their students and operations.”

With a focus on preventing identity fraud, AMSimpkins & Associates’ comprehensive solutions will strengthen the security measures across admissions, enrollment, and financial aid processes, ensuring secure verification and compliance with federal and state regulations. S.A.F.E. will now support Wisconsin’s higher education system, offering its cutting-edge technology to streamline operations and safeguard student data.

“We are honored by the Wisconsin Technical College Consortium’s trust in AMSimpkins & Associates,” said Maurice Simpkins, President and Founder. “This partnership further emphasizes our commitment to providing secure, innovative identity verification solutions that support the needs of educational institutions in protecting their students and operations.”

As part of this agreement, AMSimpkins & Associates will deliver comprehensive services, including system integration, training, and ongoing support to ensure seamless implementation. S.A.F.E.’s capabilities are designed to evolve with growing threats of fraudulent activities, keeping institutions one step ahead in securing student identities.

Institutions in the Wisconsin Technical College System:

Blackhawk Technical CollegeChippewa Valley Technical CollegeFox Valley Technical CollegeGateway Technical CollegeLakeshore Technical CollegeMadison Area Technical CollegeMid-State Technical CollegeMilwaukee Area Technical CollegeMoraine Park Technical CollegeNicolet Area Technical CollegeNorthcentral Technical CollegeNortheast Wisconsin Technical CollegeNorthwood Technical CollegeSouthwest Wisconsin Technical CollegeWaukesha County Technical CollegeWestern Technical College

The S.A.F.E. platform’s advanced identity verification services will play a pivotal role in securing sensitive data and ensuring a safe and fraud-free environment for Wisconsin’s technical colleges and their students.

For more information about AMSimpkins & Associates and the S.A.F.E. platform, please visit amsa-highered.com.

Media Contact

LAQWACIA SIMPKINS, AMSimpkins & Associates, 1 6786824193, LSIMPKINS@AMSA-CONSULTING.COM, amsa-highered.com

Twitter, Facebook, LinkedIn

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SOURCE AMSimpkins & Associates

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Shijingshan: Committed to High-Level Openness

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BEIJING, Sept. 22, 2024 /PRNewswire/ — Following the third plenary session of the 20th Central Committee of the Communist Party of China, China successfully hosted its first national-level international large-scale fair—the China International Fair for Trade in Services (CIFTIS) 2024, which concluded on September 16. The event featured exhibitors from 85 countries and international organizations, participating under their national governments or headquarters, with over 450 Fortune Global 500 companies and industry leaders showcasing their offerings both online and offline.

Adhering to the open, cooperative and mutually beneficial principle, the CIFTIS injects new momentum into global economic development through concrete actions. As one of the “dual venues” for the fair, Shijingshan District hosted a variety of business activities, including exhibitions, negotiations, and conferences. While providing meeting organization services, it showcased the achievements of Shijingshan in fostering openness and development. By leveraging the Fair’s platform, Shijingshan seeks to promote its developmental advantages globally and aims to attract more partners to this welcoming district for mutually beneficial and win-win cooperation.

Presenting Achievements in Open Cooperation and Development in Multiple Dimensions

This CIFTIS’s Shougang Park venue is composed of nine thematic exhibitions, including telecommunications, computer and information services; financial services; culture & tourism services; education services; sports services; supply chain & business services; engineering consulting & construction services; health services; and environmental services. It circles around cultivating new quality productive forces while showcasing the latest achievements, technologies, and applications in the digitalization, intelligentization, and greening of services trade, creating a “debut stage” for global services trade.

Shijingshan leverages its strengths by organizing five thematic exhibitions and four promotional booths on-site. The culture & tourism services exhibition promoted Shijingshan’s rich culture and tourism resources, while also building a support area for paired assistance to highlight its revitalization efforts to a global audience. The financial services exhibition showcased its achievements in economic development across five sectors, that is, sci-tech finance, green finance, inclusive finance, pension finance, and digital finance. The exhibition of telecommunications, computer and information services highlighted the growth of Shijingshan’s the artificial intelligence large model industry cluster and key humanoid robot enterprises. In addition, the primary and secondary school science education experimental zone invited participation from six national-level science education centers, including Shijingshan District, to display their accomplishments. Four schools, including the Beijing National Day School Shijingshan, showcased their scientific research and learning outcomes through visual presentations and videos, while also engaging visitors in interactive science experiments.

The AIES Beijing Open is made up of four competition areas, virtual cycling, virtual rowing, virtual dance, and virtual table tennis. The event welcomed international competitors, domestic professional athletes, high-level amateurs, and university students, while showing the achievements of the “digital + sports” industry. Besides, four promotional booths focused on taxation, justice, investment, and commerce showcases Shijingshan’s tax and judicial policies, offering one-stop policy guidance for participating businesses and visitors. These booths also clarified investment promotion policies, creating a unique event that integrates commerce, tourism, culture, and sports.

Working Together for Global Open Cooperation and Development

The Open Cooperation Forum 2024 was held on the afternoon of September 13. Experts, scholars, government representatives, and business leaders from both domestic and international backgrounds gathered at the Shougang Park to engage in in-depth discussions on promoting high-level open cooperation and supporting regional economic development. Shijingshan District is committed to taking industrial transformation as the strategic foundation for its initiatives, establishing several distinctive industrial parks, including the Intelligent Technology Park, Industrial Internet Park, Virtual Reality Park, Science Fiction Industry Cluster, and Artificial Intelligence Large Model Cluster. What’s more, the district is focusing on new opportunities in future information, future health, future manufacturing, and future space, continually enhancing its innovation capacity, development vitality, economic strength, and overall competitiveness.

It is dedicated to expanding openness as a key driver for integrating into the capital’s new development pattern. The district capitalizes on a range of policy opportunities, including the construction of Beijing’s two zones, effectively leveraging the role of expanding services and deepening economic reforms. It continues to optimize the business environment, actively participates in organizing the CIFTIS, and develops high-standard international cooperation zones to provide a broad platform and efficient services for enterprises to settle and cluster. Shijingshan aims to implement high-level openness to promote high-quality development, enhance mechanisms for foreign openness, innovate and elevate services trade, and align with international economic and trade standards, creating a premier business environment characterized by marketization, rule of law, and internationalization.

Three parallel forums took place during this CIFTIS. With the theme of “Leveraging Overseas Strength for Development • Pursuing Broad Horizons Through Innovation”, the Dream Incubator of Overseas Chinese Beijing Forum set up ten sub-venues abroad, aiming to enhance the involvement of overseas Chinese’s capital and expertise in Beijing’s high-quality development. The Artificial General Intelligence Computility Forum focused on “Releasing New Quality Productive Forces with Unbounded Intelligence and Computational Foundations”, where industry experts and scholars explored new possibilities in artificial general intelligence computility. The Digital Energy Development Forum 2024, themed as “Energizing the Future with Digital Innovation”, showcased a range of quality development achievements and finalized partnerships for several high-quality projects, uniting all parties to advance digital innovation and development.

The rich array of side events is one of the highlights of this CIFTIS. The International Open Cooperation Promotion Conference circled around developing the international open cooperation zone, drawing representatives from international organizations, leading global companies, and prospective businesses seeking to establish a presence in these areas. It centered on the advantages of Shijingshan’s key industries to attract target enterprises. Furthermore, the Roundtable Discussion of Foreign-Funded Enterprises engaged representatives from international organizations, business associations, and foreign-funded companies from countries like Malaysia, Singapore, and France to explore collaboration in aligning with high-standard international economic and trade rules, as well as market access in the service sector, sharing the successes of modernization with Chinese characteristics.

To enhance the consumer experience for attendees of the CIFTIS, Shijingshan has expanded its comprehensive service offerings in areas such as food, accommodation, transportation, tourism, entertainment and shopping. The Second “Here I Am for CIFTIS” Shijingshan Culture and Tourism Carnival has been significantly upgraded, evidenced by the “Divine Beasts Ascend to Immortal Mountain”: Enchanting Night Tour in Shijing Mountain. The “Surprises Await in Shijingshan. Hey There, CIFTIS!” promotional event was held during the 14th Shijingshan Consumption Festival. This included online surprise announcements and a consumption map showcasing quality shopping venues. Special surprise floats were on display, with oversized themed shopping bags distributed. Shopping centers like Joy City, Xirondo Plaza, Modern Plaza, and Chang’an Mills in Shijingshan also launched supporting promotional activities. Business tours in Shijingshan offered three dedicated routes, inviting exhibitors from digital technology, finance and insurance, culture and tourism, and sports related industries to explore relevant industrial parks and attractions for in-depth exchanges.

The China International Fair for Trade in Services 2024 has successfully concluded. Utilizing this platform, Shijingshan has once again showed its high-quality development achievements and favorable business environment to a global audience. We look forward to collaborating with more partners in an open and inclusive manner to create a win-win future.

View original content:https://www.prnewswire.com/news-releases/shijingshan-committed-to-high-level-openness-302254872.html

SOURCE Open Cooperation Forum

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