COVID-19 Impact & Recovery Analysis- LED Market (2020-2024) | The Declining Manufacturing Cost of LEDs to Boost Growth | Technavio

·4-min read

The LED market is expected to grow by USD 25.78 billion, progressing at a CAGR of almost 13% during the forecast period. Download Free Sample Report

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Technavio has announced its latest market research report titled Global LED Market 2020-2024 (Graphic: Business Wire)

The declining manufacturing cost of LEDs is one of the major factors propelling market growth. However, factors such as high average cost per fixture will hamper market growth.

More details:

LED Market: Application Landscape

The general lighting segment is witnessing unprecedented demand for LEDs, largely due to the favorable government regulatory framework across the globe for LED lighting.

LED Market: Geographic Landscape

APAC was the largest LED market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growing construction market, increasing government investments in infrastructure projects, and the presence of a large number of LED chip and packaging factories will significantly influence LED market growth in this region. 50% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for LEDs in APAC. Market growth in this region will be slower than the growth of the market in North America.

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Companies Covered:

  • Acuity Brands Inc.

  • Bridgelux Inc.

  • Cree Inc.

  • Eaton Corp. plc



  • Lumileds Holding BV

  • NICHIA Corp.

  • OSRAM GmbH

  • Signify Holding.

What our reports offer:

  • Market share assessments for the regional and country-level segments

  • Strategic recommendations for the new entrants

  • Covers market data for 2019, 2020, until 2024

  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)

  • Strategic recommendations in key business segments based on the market estimations

  • Competitive landscaping mapping the key common trends

  • Company profiling with detailed strategies, financials, and recent developments

  • Supply chain trends mapping the latest technological advancements

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Key Topics Covered:

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem

  • Value chain analysis

Market Sizing

  • Market definition

  • Market segment analysis

  • Market size 2019

  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five Forces Summary

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

Market Segmentation by Product

  • Market segments

  • Comparison by Product placement

  • Luminaires - Market size and forecast 2019-2024

  • Lamps - Market size and forecast 2019-2024

  • Market opportunity by Product

Market Segmentation by Application

  • Market segments

  • Comparison by Application placement

  • General lighting - Market size and forecast 2019-2024

  • Automotive lighting - Market size and forecast 2019-2024

  • Backlight - Market size and forecast 2019-2024

  • Others - Market size and forecast 2019-2024

  • Market opportunity by Application

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation

  • Geographic comparison

  • APAC - Market size and forecast 2019-2024

  • North America - Market size and forecast 2019-2024

  • Europe - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers

  • Volume driver - Demand led growth

  • Volume driver - Supply led growth

  • Volume driver - External factors

  • Volume driver - Demand shift in adjacent markets

  • Price driver - Inflation

  • Price driver - Shift from lower to higher priced units

  • Market challenges

  • Market trends

Vendor Landscape

  • Overview

  • Vendor landscape

  • Landscape disruption

Vendor Analysis

  • Vendors covered

  • Market positioning of vendors

  • Acuity Brands Inc.

  • Bridgelux Inc.

  • Cree Inc.

  • Eaton Corp. plc



  • Lumileds Holding BV

  • NICHIA Corp.

  • OSRAM GmbH

  • Signify Holding


  • Scope of the report

  • Currency conversion rates for US$

  • Research methodology

  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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