Apr 11, 2016: Technavio has announced the top seven leading vendors for the global LED industrial lighting market in their latest research report. This report also lists three other prominent vendors who are expected to contribute to this market’s growth over the forecast period.
To identify the top vendors, Technavio’s market research analysts have considered the top contributors to the overall revenue of this market. To calculate the market size, the report covers the market for finished LED lighting products that are used for industrial applications only.
The key leading vendors analyzed in this market study are:
Cree offers a wide range of commercial and industrial LED lighting systems for multiple applications. Cree relies on innovation and developing new products that provide economic and competitive value to its customers. The company makes efforts to improve its products’ quality and performance. To maintain their competitive edge, the company is developing brighter and more efficient low-cost products that are anticipated to enter the market over the forecast period.
GE Lighting was founded in 2000 and is headquartered in Ohio, US. The company is a global provider of LED lighting products. It offers LED fixtures, LED lamps, LED sign lighting, LED architectural lighting, LED traffic lighting, LED rail signal lighting, and LED refrigerated display lighting. The company’s main focus is on innovation. It is one of the leading providers of LED products with innovative optical, electrical, and thermal designs.
In October 2015, GE announced it will start a new company called Current for an investment of USD 1 billion. The company’s commercial LED lighting products applications include energy saving products and technologies for electric vehicle, energy storage, solar, and onsite power generation. Their early customers will be Walgreens, JPMorgan Chase, Hospital Corporation of America, Simon Property, and Intel.
LG Innotek is known for its fast time-to-market, quality, product differentiation, and brand management capabilities. The company focuses on innovation and R&D to manufacture effective LEDs that will deliver a superior performance. This will help the company maintain its competitiveness amid a rapidly changing market environment.
Nichia has adopted the strategy of enhancing its business in APAC because of the region’s focus on energy-efficient lighting solutions and favorable government policies. The company’s strategy is to establish a system comprising high-end, mid-end, and low-end customers and enhance cooperation with big clients to form alliances. The company expands productivity by prioritizing R&D and making investments in its advanced products, and the strategy has helped Nichia maintain its cost competitiveness in the market.
Osram Opto Semiconductor
Osram Opto Semiconductors aims to expand its global reach by manufacturing and delivering multiple lighting products, solutions, and services to customers. The company’s long-term objective is to leverage its core strength to expand its market share.
In December 2015, OSRAM announced that it will be the official lighting partner for the Eurovision Song Contest to be held in Stockholm, Sweden, in May 2016. In this event, OSRAM plans to promote their LED smart lighting system called LIGHTIFY.
Samsung Electronics focuses more on long-term growth than short-term profits. The company has analyzed the growth potential of the market and is making substantial investments in developing its target markets. The company aims to achieve excellence by providing highly efficient LED products. Samsung Electronics has established the Samsung Strategy and Innovation Center with close to USD 100 million from the Samsung Catalyst Fund to accelerate innovation and expand the device-solution business. In the early stage, this center is expected to focus on electronic components and subsystems that fuel innovation technologies and business models. This will help Samsung Electronics to capitalize on its parent company’s resources and gain a competitive edge over rivals during the forecast period.
Seoul Semiconductor’s strategy is to provide creative solutions through innovative management systems and advanced technologies. The company invests heavily in R&D and wants to become the world’s top LED manufacturer. Their main business strategy is to increase its market share in the commercial lighting segment using its Acrich LED products.