LED Industrial Lighting Market: CAGR of 29.64% by 2018
Research and Markets has announced the addition of the Global LED Industrial Lighting Market 2014-2018 report to their offerings. The market will grow at a CAGR of 29.64% to 2018.
According to the report, the need for energy-efficient lighting solutions is one of the key drivers in the market. Increased concern over the depletion of non-renewable sources of power and the need to minimize power consumption are driving the demand for LEDs in industrial facilities.
Further, the report states that the limited thermal tolerance of LEDs is one of the major challenges. When LED bulbs are subjected to the high-temperature environment in industrial applications, there is not only degradation in their power efficiency, but also a shortening of their life span.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.