As the lighting industry is heading towards a brighter future, the LED lighting market is also on rise and it has been reported that the LED lighting industry is expected to reach £51.3 million by 2019. The reports also have pointed out by suggesting that the LED lighting industry was £7.7 back in 2012.
The predictions made by researchers and analysts states that the industry will be growing at a rate of over 30% till 2019 from the recent times. Since the use of LED lights in Europe has been done more as compared to any other country which has made the Europe lighting market to be one of the biggest ones with a share of 33.1 % which has played a vital role in the growth of the industry in the region, TMR also have pointed that this growth was mainly a result of the government’s strong initiative that it took.
News also suggest that countries like UK, Germany, Denmark, Russia are working on deploying efficient lighting so that the overall operational costs could be lowered and the quality could also be improved.
As for the users of these LED lights, number of commercial users was the largest as compared to end users, the reason of which can be that, in commercial places lights are a must used products that play a vital role in the improving the interior. The reports also suggest that the commercial users were accounting 52.5 percent of the entire market.