Industry Background:
The latest technology in a light bulb is LED that is the short form for Light Emitting Diode. LEDs give out more light and are mounted within the diffuser lenses which help in spreading the light over a wider area. LED bulbs once used to be for specialty lamps but now can be fitted into standard screw-in connectors in many lamps and sockets. These bulbs are way more long-lasting and efficient in comparison to other bulbs available. Due to the focus of light in one direction these bulbs prove to be great for any specific workplace or area. These LED light bulbs can ideally be used in reading lamps, lighting rooms, under cabinet lighting, decorative lighting and task lights. Moreover, the LED light bulbs are heat resistant and do not heat up, unlike other light bulbs. Growing advancement in technology has reduced the costs of the LED light bulbs hence making it cost-effective than the available bulbs in the market. With this continuing trend, the LED light bulbs are further being designed for more and more applications.
This growth is primarily driven by Growing awareness about LED Bulbs in Households, Increase in the Spending on Commercials Regarding Manageable, Stylish And technical LED Bulbs for Residential Purposes and Growth in Developed and Developing Nations with Rising in Disposable Income.
Globally, a noticeable market trend is evident Increase in the Trend of Having the Kitchen Space to a Minimum and Also Maintaining Optimum Efficiency
. Major Vendors, such as OSRAM (Germany), GE Lighting (United States), Philips Lighting (Netherlands), Acuity Brands (United States), Cree (United States), Eaton (Ireland), Nichia Corporation (Japan), Leviton (United States), Ilumi (China), LIFX (Australia), Seoul Semiconductor (South Korea), Foshan Electrical & Lighting (China) and Everlight Electronics (Taiwan) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Market Drivers
- Growing awareness about LED Bulbs in Households
- Increase in the Spending on Commercials Regarding Manageable, Stylish And technical LED Bulbs for Residential Purposes
- Growth in Developed and Developing Nations with Rising in Disposable Income
Market Trend
- Increase in the Trend of Having the Kitchen Space to a Minimum and Also Maintaining Optimum Efficiency
- Rising Demand for Residential Spaces That Are Equipped With Efficient and Long Lasting Featured LED Bulbs
Restraints
- High Costs, High Maintenance, and Delicacy Regarding the LED Bulbs
- Availability of Counterfeit Products
Opportunities
Rapid Expansion of the Construction Sector, Growing Global Smart City Initiatives Attracting Huge Technology Investments and Increase in Residential Building Tie-Ups with Governmental Expenditures on Infrastructural Development
Challenges
The Fluctuating Costs of Raw Materials and Labours and The Dominance of Fluorescent Bulbs in Market May Hamper the Growth of These LED Bulbs
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, LED Light Bulbs for Residential Study Sheds Light on
The LED Light Bulbs for Residential Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the LED Light Bulbs for Residential industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where LED Light Bulbs for Residential industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.