INDUSTRIAL AND COMMERCIAL LED LIGHTING MARKET ANALYSIS

Industrial And Commercial Led Lighting MarketSize and Trends

Global Industrial and Commercial LED Lighting Market is estimated to be valued at US$ 187.1 Bn by 2030.The commercial lighting refers to the lighting fixtures used for commercial spaces such as stores, offices, hospitals, institutions, government buildings, and other places that are not residential or manufacturing. Commercial lighting is rapidly adopting LED lighting fixtures since they provide higher cost-efficiency, energy-efficiency, and a variety of options. LED lighting delivers a high level of brightness, is reliable, and lasts longer than conventional lighting fixtures. LED lights are constructed using semiconductor components and emit little radiated heat as compared to other competing products.

Global Industrial and Commercial LED Lighting Market - Trends:

Companies are focused on research and development

Major companies are focused on research and development activities, in order to gain a competitive edge in the market. For instance, In July 2020, GE Current and Pointr (UK) formed a partnership to enable location-based services in large buildings like warehouses, offices, retail establishments, and distribution centers. Current savvy lighting joined with Pointr's area based administrations convey high-esteem applications to retailers, stockrooms, and modern premises, giving the capacity to comprehend the exact area of workers and guests utilizing any Android or iOS gadgets, for example, cell phones or Honeywell gadgets.

Government authorities are using LED lights for public infrastructure.

Government authorities are significantly investing in public infrastructures such as railway stations and airports wherein LED lights are being used. Since these lighting fixtures last longer than conventional lights and are energy efficiency, government authorities are more inclined towards LED lighting.