Market Overview
The global LED emergency lighting market is expected to grow at a significant rate during the forecast period.
The global LED emergency lighting market is expected to grow at a significant rate during the forecast period. This is due to factors such as the integration of security industry with LED lighting, changing the paradigm of lighting industry to electronics & healthcare industry, and continuous advancement in upcoming product range. Increasing uncertainties in terms of sudden natural calamities and terrorist attacks have increased the need for taking necessary precautions in case any mishap occurs. This factor has made the various companies to start investing in emergency LED lighting market as the business is growing at a rapid pace. Smart homes market along with customization benefits and continuously falling average selling price (ASP) of LED lights are some of the factors driving the growth of the market. However, designing challenges while using LED, and lack of standards and the associated interoperability issues are restraining the growth of the global LED emergency lighting market.
The market dynamics clearly explains the key drivers, restraints along with the opportunities available in future for the global LED emergency lighting market. Moreover, having identified the potential for further development in the form of product launches, partnerships, and acquisitions among others, the report has included a separate section of detailed competitive landscape. The recent developments by the key players in this market have also been tracked in the form of company profiles. Some of the key companies covered in the report are Koninklijke Philips, OSRAM Licht, Acuity brands, NVC lighting, Legrand S.A, Keystone technologies, Fulham Co. Inc. Hubbell Incorporated, Digital Lumens.
The report provides a detailed analysis of the global LED emergency lighting market through various segments. These segments are as follows: by system type, by component, by application and by geography. Under system type, it has been shown that self-sustained system is dominating the market due to its cost and energy efficient advantage over the centrally-supplied system. In terms of component, lamps have occupied the greater proportion of the market as compared to the luminaires. In terms of application, commercial sector proves to be the leader in the application segment in the context of regional analysis, North America is the leading region for LED emergency lighting market. Moreover, APAC is showing a rapid growth rate in the forecast period because of extensive technological advancements in China & India.
Among the North American region, the U.S. generated the maximum amount of revenue in the year 2015 in the global LED emergency lighting industry as compared to other countries, whereas India among the APAC region has the maximum potential to grow in the forecast period. The U.S has always been on the forefront of the world map when it comes to technological advancement. Most of the renowned companies are U.S based, giving significant impetus to the growth of this market in the U.S as well as the whole of North America.
