Strong Focus on Energy Savings Drives Demand for LED Light Bars, According to a Soon-to-be-Released Report by Global Industry Analysts, Inc.
San Jose, California, Sep 19, 2013 (PRWeb.com via COMTEX) --
Follow us on LinkedIn. - GIA invites senior industry executives, domain experts, technologists and market strategists to participate in a comprehensive global research initiative studying the LED Light Bars markets. The study will examine key drivers and trends impacting the market such as growing use of light-emitting diodes (LED) based lighting in myriad applications ranging from indoor, outdoor, architectural, retail display, horticultural, automobile, and accent lighting; increased focus on technology developments that help reduce energy consumption while simultaneously enhance quality of light; increased government support for R&D projects for LED worldwide; strong emphasis on energy conservation and efficiency.
Defined as solid state lighting, light-emitting diodes (LED) represent a revolution in the field of lighting. Key features and benefits of LED lighting responsible for driving its adoption over the years include small size, compact form factor, superior energy efficiency to the tune of over 70% lower energy consumption as compared to incandescent lighting, longer life, lower operating temperatures, lesser energy wastages, and reduced maintenance costs. The growing focus of governments worldwide in funding the development of energy efficient lighting like LED lighting is forecast to drive future growth in the market. A key reason cited for increased government support for solid-state lighting (SSL) technologies like LED is the massive potential offered by LEDs in reducing energy costs. In the United States alone, LED lighting is forecast to result in energy savings of over US$35 billion by the year 2030.
In the coming years, developments in next generation LED technologies like organic LEDs
(OLED) will help spur demand. A key noteworthy trend in the market is the growing demand for white light LED products. Technologies currently being evaluated to produce white light include phosphor converted LED, color-mixed LED, and hybrid method LED involving the use of both discrete monochromatic LED and phosphor converted LED.
All of these factors provide a fertile environment for the growth of LED Light Bars, which are defined as LEDs arranged in a bar configuration. In the automotive industry, the growing desire for personalization is expected drive demand for aftermarket car LED light bars. Higher energy efficiency features and long-term financial benefits will help spur adoption of LED light bars in industrial and mining applications which require heavy duty work lights. The gradual recovery of the residential housing sector in developed countries, increase in renovation projects, and focus on energy efficient buildings will additionally fuel demand for modular LED light bars for residential lighting. The robust retail sector in developing countries will help fuel demand in sectors such as, restaurant & hospitality, retail & grocery.
The study estimates the global LED Light Bars to be a multi-million dollar market, while more precise market-size and growth projections for a 14-year period will be made available during the 2nd stage of report preparation, and data analysis.
The research and analyses will be released shortly in the form of a comprehensive research report. The report by design, will attempt to provide exhaustive analysis, data, trends, market share, market size, statistics, forecasts and competitive intelligence. The report is modeled to offer precise and unbiased, actionable market insights including in-depth segmentation of market sub-sectors, demand estimates and projections and analysis of trends in each of the sectors, identification of leading players, and the competitive structure, among others.
Developed for Manufacturers, Strategic Planners, Business Development Executives, Management Consultants, Investment Bankers, Consulting Firms, Marketing & Sales Executives, C-Level Decision Makers, Market Strategists and Technology Domain Experts, the report helps identify the biggest opportunities in this space and offers accurate latent demand forecasting that empowers quantitative decision making among existing market players and new entrants.
For more details about how you can participate, please click here.
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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Global Industry Analysts, Inc.
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