LED Services Market Size, Share | Industry Report, 2022-2032

NEW CITY, N.Y. - Dec. 28, 2022 - PRLog -- LED Services are an essential part of modern-day technology. Whether you are looking to upgrade or maintain your current lighting system, LED Services can provide the expertise and resources needed for a successful installation. LEDs, or Light Emitting Diodes, are highly efficient sources of light that offer numerous advantages over traditional lighting sources. LEDs also have low energy consumption and long-term durability which makes them ideal for both residential and commercial applications.

The global LED Services market is experiencing an outstanding level of growth. With digitalization enabling faster and more efficient lighting solutions, the demand for these services is on the rise. As economies around the world start to adopt LED technology, they are also seeking out ways to make their operations more cost-effective and energy-efficient by utilizing LED services.

The long-term contracts offered to service providers are expected to drive global LED services market growth during the forecast period

LEDs were previously limited to residential use and a small portion of the commercial sector. However, LED lighting has been gaining popularity due to growing concerns about energy efficiency and lighting quality, as well as stringent environmental policies. Conventional LED lighting fixtures are now replacing traditional lighting systems. Smart cities, smart homes, and smart street lighting are driving demand for LED services. These factors will drive the global LED services market's growth during the forecast period.

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The Key Developments

1. Major market players are focusing on product launches to increase their product portfolio. Philips Lighting Holding B.V., for example, introduced the first connected, integrated LED lighting system specifically designed for recreational sports fields in May 2017. The Philips PerfectPlay system allows recreational sports centers to lower energy costs, simplify their operations, maximize revenue potential, and provide better lighting for sporting events.

2. Bright Special Lighting S.A. provided lighting solutions in February 2017 for the exhibit Melpomene at The Muses Project, held at the house of Cyprus in Greece.

Key Market Segments
Type

• Hardware
• Software

Application

• Residential
• Public Lighting
• Business Lighting

Key Market Players included in the report:

• Thorlux Lighting
• Ledvance GmbH
• Philips Lighting
• OPPLE Lighting
• Reggiani Spa Illuminazione
• Bright Special Lighting
• Endo Lighting
• Global Light
• KKDC
• Cree

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