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Europe LED Lighting Market is Moving Fast | Here Is What You Need To Know

Author : Ronak Bora | Published Date : 2019-06-04 

Having taken the conventional global lighting marketplace by storm, Europe LED lighting market, in the recent years has emerged to a fertile investment ground for potential investors. The LED (light-emitting diode) technology, of late, has been gaining traction form variety of reasons, but most notably because of its extended lifespan, lower maintenance, and low energy consumption abilities. In addition, given the strict regulations and energy norms in Europe toward energy efficient solutions, it wouldn’t be wrong to quote that Europe LED lighting market share would soar several notches up in the years to come.

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Commercial applications are gaining traction in the Europe LED lighting market due to a high implementation of the modern & stylish lighting systems in hospitality centers, commercial buildings & offices, and healthcare facilities across Europe. In commercial set-ups including offices, banks, etc., LED lights provide a better working atmosphere to employees and create mood enhancement due to the situational illumination control features. Such facilities deploy the energy-efficient technologies to save the electricity costs and incorporate wireless lighting control systems.

Elderly care homes and healthcare facilities are the emerging segments in the Europe LED lighting market owing to the development of patient-centric facilities and the focus on providing the residents’ comfort & security. To keep elderly home residents in a secure atmosphere and to maintain their health, the care centers are adopting facility transformation initiatives that include the replacement of conventional lighting systems with the innovative LED technologies. These lighting units improve the residents’ moods and provide appropriate illumination & brightness that will support the eyesight of the elderly people.

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The Europe LED lighting market is competitive owing to the presence of several players providing highly efficient and advanced LED technologies for various applications. The players are offering differentiated and application-specific products for several industries such as residential, commercial, hospitality, government, institutional, etc. Moreover, the companies have developed a strong distribution network across the European Union to address the requirements of local markets and household units. The market faces high internal competition due to the presence of leading international players present in Europe and their rapid technological innovations.

The players operating in the Europe LED lighting market comprise Acuity Brands Inc., Cooper Industries, Inc., Endo Lighting Corporation, General Electric Company, Hubbell Incorporated, OPPLE Lighting Co., Ltd., OSRAM Opto Semiconductors GmbH, Philips Lighting Holding B.V., GreenStar Products, Inc., The Zumtobel Group AG, etc. The players in the industry and several associations are involved in R&D activities that support them in product innovations and the development of LED technologies such as human-centric lighting, smart lighting, and intelligent lighting systems.

Clearly, all the above trends are playing a crucial role in the development of Europe LED lighting market size, which is certain to proliferate the profitability quotient of this business sphere. A presumption validating the same is of Global Market Insights, Inc., that claims the Europe LED lighting market to surpass a remuneration portfolio of USD 30 billion by 2024.

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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