June 1, 2016: Owing to the development in its huge commercial establishments, entertainment division and investments in infrastructure growth, United Arab Emirates (UAE) will be leading the Middle East LED market. As far as Middle East and Africa region (MEA is concerned, The LED market is likely to grow at a CAGR of 13% till 2022 in the Middle East and Africa region (MEA), according to International Expo Consults experts.
Abdul Rahman Falaknaz, chairman of International Expo Consults, said that LED streetlights on UAE roads stretch more than hundreds of kilometres, along with the malls and related establishment, rising outdoor digital signages, will additionally drive the requirement and expansion of the LED industry.
Sign and Graphic Imaging (SGI) Dubai 2017 is set to include special LED focused pavilion to meet the requirements of LED stakeholders. Well-known global brands revealed their LED technology at the SGI Dubai show this year.
UAE riding high in Middle East LED market
The SGI is a foremost event in the Middle East and North Africa (Mena) region with the victorious history of generating an ideal platform for exhibitors in the signage, screen and digital printing industries, outdoor media, retail signage solutions and digital signage.
Other nations in the GCC region are also planning to take on LED lighting, but its reception is strengthening since numerous industrial, commercial and retail subdivisions are looking at it as a competent and cost saving option, added Falaknaz.
Sharif Rahman, CEO of International Expo Consults said that at present , the governments in the area are paving the way by replacing conventional lights with LEDs, followed by showrooms, hotels etc since such sectors have ample of lights with high-watt utilization.
Furthermore he said that global LED market is expected to grow at 5 % by 2016 and 3% annually till 2020. The nation has ample of upcoming and early projects and by 2020 is set to touch more than $200 billion worth of investments in UAE’s power division. The projects will boost the demand for energy-efficient lighting.
In spite of the oil prices and demanding market conditions, the Middle East market is optimistic for LED technology and systems as it is likely to remain upbeat as private investments carry on and government investment stabilises.