LED Displays, Lighting and FixturesMarket Poised for Profitable Future as Energy Efficiency Trend Continues

Consequently, geographically, North America dominates the demand in the global LED displays market. However, APAC is another lucrative region owing to rapidly expanding end-user product manufacturer’s presence in developing nations and vast consumer base. The information is extracted from a business intelligence report from IndustryARC, titled “LED Displays, Lighting and Fixtures Market: By Product (Conventional LED Display, Surface Mounted Device, LED Lighting & Fixture) Application (Backlighting, Signage, LED General Lighting Market, Automotive LED Lighting, Others) & By Region – Forecast (2018 - 2023).”

Electronic appliances with LED displays are fairly ubiquitous, gaining strong adoption in the past decade owing to its attributes of efficient lifecycle of LED lights, less power usage, and better visibility. Backlighting is the leading segment contributing highest share in the LED display market. According to Solid State Lighting (SSL) forecast report from the Office of Energy Efficiency and Renewable Energy, annual savings by using LED lighting will be 5.1 quads by 2035, which is nearly equivalent to the total annual energy consumed by 45 million U.S. homes. 

Rise in stringent regulatory action such as OSHA standards associated with worker and environment safety has been a key driver for widespread adoption of LED lighting in the oil and gas industry. LED fixtures equipped with strong and corrosion-resistant material shields ignition sources from vapors, even when the fixtures are jarred or impacted by other equipment in the environment. Unlike other fixtures that are prone to explosive failures, LED industrial lighting is virtually explosion-proof, which eliminates the risk that a catastrophic failure of a lighting fixture will start a fire at an oil and gas production facility. 

Lighting LEDs are a route to energy efficiency that also allow creative effects that were not possible with incandescent bulbs and fluorescent tubes.  Most LEDs produce light by phosphor conversion. The efficacies of phosphor converted LEDs are today up to 144 lm/W for cool white (CW) emitters and 111 lm/W for warm white (WW) emitters.

One of the major LED display market player is Optoma, which delivers engaging visual and audio experiences for a connected world. The company’s projection and LED display products are a combination of superior image processing technologies with exceptional engineering, and their innovation delivers stunning crystal clear images with superior reliability.

Energy efficiency is a global trend that is propelling the LED display market as the products consume considerably lower energy. Additionally, enhanced visual presentation and extensive usage of LEDs for environmental safety has been the key driver for the widespread adoption of LED displays, lighting, and fixtures.

LED Digital Signage Market: By Display Technologies (2-D Display, 3-D Display); By Brightness (Indoor, Display, Outdoor Display); By Component (Hardware, Software, and Services); By End User Industry (Commercial, Entertainment, Healthcare & Hospitality, Industrial Retail & Services, Transportation, Airport, Government, Banking, and others); By Geography - (2018-2024)

LED Lighting in Oil & Gas Market: By Use Type (Luminaries, Lamps); By Product Type (Flood, Bulkhead, High Bay, Wall Pack, and Others); By Application (Indoor, and Outdoor); By Geography Forecast (2017-2023)