Semiconductor and Electronic Survey

“Luminaires to record highest CAGR in LED Light Engine Market during forecast period” The luminaire subsegment is expected to grow at the highest rate as it is the main component of an LED Lighting System. Increasing consumer awareness about conserving energy and installing light systems with high energy efficiency is expected to boost the  LED Lighting Market  for luminaires. “Market for retrofit installations to grow at highest CAGR during forecast period” In the LED Light Engine Market, by installation type, retrofit installations are expected to experience the highest growth. Increasing replacements of incandescent lamps with energy-efficient light sources, such as LED lamps is the major factor contributing to the growth of the market for retrofit installations for LED Light Engines. The old generation lamps are being slowly phased out and fixtures are being retrofitted with LED lamps as they offer longer operational life and consume less energy. “Residential indoor lighting applic

The   LED Light Engine Market   is expected to be valued at USD 30.0 billion in 2019 and is anticipated to reach USD 59.5 billion by 2024 growing at a CAGR of 14.7% from 2019 to 2024. Rising demand for energy-saving lighting systems; development and modernization of infrastructure, for example, smart cities; availability of low-price LEDs; the entrance of LEDs as light sources in general lighting; and accelerating growth of LED technology over conventional lighting technology are key factors influencing the market growth of LED Light Engines. “Luminaires to record highest CAGR in LED Light Engine Market during forecast period” The luminaire subsegment is expected to grow at the highest rate as it is the main component of an LED Lighting System. Increasing consumer awareness about conserving energy and installing light systems with high energy efficiency is expected to boost the LED Lighting Market for luminaires. “Market for retrofit installations to grow at highest CAGR during forecas