According to Technavio Research Report “Global LED Curtain
Lights Market by distributional channel (offline, and online) and
geographic regions (APAC, North America, Europe, MEA, and South America) is
witnessed to grow USD 447.03 million, at a CAGR of 15% from 2019 to
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Technavio has published a new market research report on the global LED curtain lights market from 2019-2023. (Graphic: Business Wire)
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Global LED Curtain Lights Market: Decline in
cost of LED manufacturing
The cost of manufacturing LED lights has declined significantly over the
past five years, increasing the demand for LED-based lighting. The
declining cost of LEDs is mainly attributed to the decrease in the price
of semiconductor chips and other components used in LED lights.
Furthermore, the growth in LED production has led to a significant
increase in economies of scale for manufacturers, which has reduced the
cost of manufacturing LEDs. Therefore, the declining cost of LED
manufacturing will increase the demand for LED curtain lights during the
“Apart from the decline in cost of LED manufacturing, other factors
such as the development of smart controls in light management systems,
and the growth in home décor market will have a significant impact on
the growth of the LED curtain lights market size during the forecast
period,” says a senior analyst at Technavio.
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Global LED Curtain Lights Market: Segmentation
This market research report segments the global
LED curtain lights market by distributional channel (offline, and
online) and geographic regions (APAC, North America, Europe, MEA, and
The European region led the LED curtain lights market in 2018, followed
by North America, APAC, South America, and MEA respectively. The
dominance of the LED curtain lights market in Europe can be attributed
to the increase in the number of smart buildings. The growth of smart
buildings and energy-efficient systems is driven by the need to meet
energy savings targets by 2020. Furthermore, the growing interest in
sustainability and the popularity of online retail are factors that are
creating significant growth opportunities for LED curtain lights
manufacturers in Europe.
Global LED Curtain Lights Market: Increase in
the adoption of energy-efficient light sources
A key factor driving the growth of the global LED curtain lights market
size is the increase in the adoption of energy-efficient light sources.
Governments across the world have been taking initiatives to promote the
use of energy-efficient lighting solutions. As a result, consumers are
increasingly shifting toward energy-efficient and less power-consuming
lighting solutions to reduce their electricity bills. The adoption of
LED sources is increasing mainly due to their advantages over
traditional lighting technologies. LEDs are up to 10 times more
efficient and reliable than incandescent lamps and have a considerably
longer lifespan. Such benefits of LED sources and the increase in
adoption of energy-efficient light sources will drive the growth of the
LED curtain lights market during the forecast period.
Few Major Vendors in the Global LED Curtain Lights Market are:
- General Electric Co.
- Havells India Ltd.
- OSRAM GmbH
- Panasonic Corp.
- Signify NV
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