Architectural led product market

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Market Overview

• An LED light bulb or lamp is an electric light
  that is primarily used in light fixtures by using
  one or more light-emitting diodes. LED lamps are
  energy-efficient, have a longer lifespan, and use
  only a fraction of energy as compared to
  equivalent incandescent lamps. LED lights emit
  around 90 lesser heat than incandescent lamps.
  In the recent past, the prices of architectural
  LED products have decreased significantly, which
  in turn, has increased its adoption for various
  applications. In architectural lighting, both
  technology and art are used to attain
  aesthetically pleasant lighting and
  energy-efficient lighting. The architectural
  lighting is done for commercial as well as
  residential projects. According to Coherent
  Market Insights analysis, the average selling
  price of LED products declined by 20 in 2014.

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• The Global Architectural LED Products Market, by
  Product Type (Solar, and Conventional (Lamp,
  Strip, and Linear)), by End-use (Residential
  (Retail, IT Telecommunication, and Banking,
  Financial Services Insurance (BFSI), and
  Commercial (Media Entertainment, Healthcare),
  by Application (Cove Lighting, Backlight, In
  Ground, Wall Washing, and Others),  and by
  Geography (North America, Europe, Asia Pacific,
  Latin America, and Middle East Africa) - Global
  Forecast to 2027, is valued at US 8,067.3
  million in 2019, witnessing a CAGR of 17.9
  during the forecast period (2019-2027), as
  highlighted in a report published by Coherent
  Market Insights...

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Market Dynamics- Drivers

• Growing consumer inclination towards luxurious
  lifestyle is expected to drive growth of the
  global architectural LED products market during
  the forecast period
• Increasing consumer inclination towards luxurious
  lifestyle has boosted the demand for LED lighting
  products significantly worldwide. This demand has
  been observed in commercial as well as
  residential sectors. Moreover, the government
  offices and monuments are increasingly adopting
  architectural LEDs luminaries and lamps as part
  of smart city initiatives. Thus, these factors
  are expected to support growth of the global
  architectural LED products market over the
  forecast period. For instance, in 2013, the Royal
  Castle in Warsaw, Poland, installed Philips LED
  solution eW Graze linear lighting solution on the
  façade of the royal castle. The motive behind
  installation of architectural LED lights is to
  display the color of the facade as realistically
  as possible. Furthermore, in 2014, the Turkish
  government awarded a contract to Philips to
  install architectural LED products across 21
  sites in Ankara city. 

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• Stringent government regulations regarding
  deployment of LED lamps is expected to propel the
  global architectural LED products market over the
  forecast period
• Government regulatory policies concerning
  construction of artistic buildings across various
  regions have accelerated the deployment of
  efficient lighting systems by construction
  companies. Moreover, government organizations
  across the globe are emphasizing on the
  implementation of minimum standards for lighting
  products efficiency and ban adoption of
  incandescent lighting products, in order to
  enhance the efficiency and cut-down CO2 emission.
  For instance, the Government of China has banned
  the use of 1000W and 60W incandescent bulbs
  across the country. Moreover, the European Union
  (EU) has banned the usage of all types of
  conventional incandescent lamps in the region.
  Hence, these factors are expected to boost the
  market growth in the near future.

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• Asia Pacific region dominated the global
  architectural LED products market in 2019,
  accounting for 52.3 share in terms of value,
  followed by Europe, and North America
  respectively.

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Market Dynamics- Restraints

• High initial cost of installation is expected to
  hamper the global architectural LED products
  market growth over the forecast period
• Compared to commercial sector, adoption of LED
  lighting products in residential sector is
  relatively low. This is owing to high initial
  cost of installation. Residential users are still
  preferring low-cost lighting technology products
  such as fluorescent lighting fixtures,
  particularly in emerging economies. This, in
  turn, is expected to hinder the demand for LED
  lighting products and thereby restrict the market
  growth over the forecast period. Currently, cost
  of 60W equivalent LED bulb is 9X that of 60W
  florescent bulb.

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• Increasing complexity of data center designs is
  expected to hamper the global data center and
  networking market growth over the forecast period
• Over the years, the design of data centers has
  evolved significantly, become more and more
  complex. Recently formed data centers are more
  complex than their predecessors, which makes it
  difficult to operate and maintain. Moreover, lack
  of skilled professionals to operate and maintain
  these data centers is expected to hinder the
  market growth over the forecast period.

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Market Opportunities

• Tie-ups and partnerships with construction
  companies and home builders are expected to pose
  lucrative growth opportunities
• Growing construction business across the globe
  has presented an excellent opportunity for
  architectural LED products provider to partner
  with construction companies and home builders.
  Installation of energy- and cost-effective
  lighting systems in the commercial sector
  presents huge market opportunity for providers of
  architectural LED products. According to Coherent
  Market Insights analysis, the global
  construction market is projected to grow at an
  annual average of 4.1 during the forecast period
  (20152021). Furthermore, key companies in the
  market have significant opportunity to sign
  agreement construction companies, in order to
  gain competitive advantage in the market

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• For instance, in September 2012, PhotonStar LED
  Group plc signed a one year LED light fixtures
  supply agreement with a leading U.K. home
  builder. The installation of LED light fixtures
  in new constructions helped the home builder meet
  carbon-emission target in a cost-effective manne
• Tie-ups with e-commerce companies are expected to
  offer significant business opportunity
• High growth e-commerce business in emerging
  economies such as Brazil, India, and China has
  offered lucrative growth opportunity for
  architectural LED products manufacturers and
  providers. Key manufacturers can tie-up with
  online retailers such as eBay and Amazon Inc., in
  order to endorse architectural LED lighting
  products and solutions among consumers.

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• Tie-ups with e-commerce companies are expected to
  offer significant business opportunity

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Market Trends

• Growing mergers and acquisitions among key
  players are expected to be a major trend
• Key companies in the market are focused on
  strategic activities such as mergers and
  acquisitions, in order to enhance their presence
  in the global market and gain competitive edge.
  For instance, in May 2015, Leviton Manufacturing
  Co., Inc. acquired Intense Lighting LLC and
  expanded its product portfolio with the addition
  of the latters LED lighting solutions for the
  residential, retail, commercial and hospitality
  sectors. Moreover, in September 2013, Magic Lite
  Ltd. acquired National Specialty Lightingan
  architectural and specialty lighting companyin
  order to enhance its technological capabilities
  to manufacture advance LED lightings and presence
  in the U.S. architectural LED lighting market.

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• Strategic partnerships and collaborations with
  e-commerce platform providers is another major
  trend in the market
• Growing adoption of LED lights in various
  industries have compelled architectural LED
  products providers and e-commerce companies to
  form strategic alliance, order to expand their
  consumer base and gain competitive edge in the
  market. For instance, in July 2014, Phillips
  Lighting Limited entered into a strategic
  alliance with Amazon.com, Inc. in order to
  enhance its presence in the market.

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Segment Information

• Global architectural LED market, by application
  type segment, wall washing type sub-segment was
  accounted for 39.8 market share in 2019 and is
  expected to grow at a CAGR of 18.5 between 2019
  and 2027.

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Competitive Section

• Key companies operating in the global
  architectural LED products market are Epistar
  Corporation, GE Lighting LLC, Galaxia, Cree Inc.,
  Cooper Industries PLC, Signify N.V., Philips
  Lumiled Lighting Company LLC, Verbatim Ltd.,
  Osram Licht AG, Toshiba Lighting Technology
  Corporation, and Samsung Electronics.

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Key Developments

• Major market players are focused on mergers and
  acquisitions, in order to gain competitive edge
  in the market. For instance, in November 2018,
  American Industrial Partners, a U.S.-based
  private equity firm, acquired GE Lighting LLCs
  solid-state lighting (SSL) business unit.
• Key players in the market are involved in product
  launch, in order to enhance their product
  portfolio. For instance, in July 2018, Cree Inc.,
  a U.S.-based provider of LED lighting, introduced
  new High Efficiency (HE) version of XLamp XP-G2
  LED.

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