Apr 8 2015
Research and Markets has announced the addition of the "United States LED Lighting Market Forecast and Opportunities, 2020" report to their offering.
The US LED lighting market is expected to reach an estimated USD5.2 billion in 2015
The general lighting segment that includes demand from residential, offices, hospitality and commercial spaces accounts for the largest share in the country's LED lighting market. Other major end user segments of the LED lighting market include automotive and backlighting. The recovering construction industry in the US and growing demand for LED lighting in general and the automobile sector is expected to boost the demand for LED lighting products in the country over the next five years. United States LED Lighting Market Forecast & Opportunities, 2020, report elaborates on the following aspects related to the LED lighting market in the US:
Over the past few years, the US government has been increasing its focus on replacing traditional and less-efficient lighting systems with highly energy-efficient, environment-friendly and cost-effective LED technology. Though the operating cost of LED lighting systems is quite low, higher per-unit prices were initially restricting their adoption among consumers. Nevertheless, the adoption of LED lighting products has been robustly increasing over the last five years as researchers have been continuously focusing on reducing the cost of production, thereby resulting in significantly lower product prices. In addition to continuously declining LED prices, LED adoption is witnessing a continuing growth due to increasing consumer interest towards adopting highly efficient and environment-friendly lighting solutions and supportive government policies.
Market Trends & Developments
- Certification from US Environmental Protection Agency
- LED Patent Landscape
- Green Building Concept
- Smart Lighting in Commercial Spaces
- Increasing Public Awareness