LED modules and light engine, as a market has gained traction in recent times due to its applications ranging from industrial to residential sector. LED modules and Light Engines are the devices with LED on printed circuit board and driver IC respectively.
The primary and foremost feature for the use of LED modules and light engines over its straight competitors like light bulbs is that LED modules and light engines are easy to manufacture, more efficient and provides more reliable products than its straight competitors.
LED modules and light engines market gained hype due to boom in LED TV market and monitor backlight market. Some other markets which contribute to the growth of LED modules and light engine market are cell phone flash, architectural lighting and automobile lighting.
LED modules and light engines Market:Drivers and Challenges
With the increasing adoption of smart/connected lighting and LED luminaires and lamps, in different sectors, the use of LED modules and light engines is proliferating. Henceforth, the primary driver for LED modules and light engines market is the use of these products in many applications across sectors like automobile, electronics, healthcare etc.
LED modules and light engines are not only used in these sectors but also in broad sectors like commercial sector, residential sector, industrial sector and outdoor sectors which makes it a very vast market with number of opportunities. Moreover, the decline in prices and an improved light quality and flexibility provided by LED modules and light engines drives its growth in the market.
Segmentation of LED modules and light engines Market on the basis of applications:
The type of applications of the LED modules and light engines tells us about the major sectors the company is working in that is the vast field view.
Segmentation of LED modules and light engines Market on the basis of form factor:
The segmentation on the basis of form factor tell us about the form in which LED modules and light engines are going to be found as the fine product.
- Downlights: These have a, comparatively, lower selling price and are more easy to use. Downlights incorporate a higher percentage of LED modules and light engines
- Troffers: These are less integrated LED modules and light engines which results into lower costs
- High bays and Street lights: These have more integrated LED modules and light engines, and henceforth has higher ASP and slower price declines.