1.1 Definition and scope of study
The light-emitting diode, better known as LED, is an electronic component that generates light when an electric current flows through it.
The market consists of several segments: chip fabrication, packaging, control, then the realization of the LED module, the lighting device (the bulb), and finally the integration (the luminaire).
LEDs are widely used for lighting (despite higher costs than other types of lighting), but also for the production of electronic or signaling devices such as for display backlighting or as the main light source (OLED displays).
In 2020, the global LED market was worth more than $50 billion and is expected to grow at an annual growth rate of 12.5% between 2021 and 2028. In particular, a key factor that will drive the growth of this market is increased regulations regarding the abolition or restriction of the use of inefficient lighting technologies.
The Italian LED market has excellent development prospects, with expectations of very high annual growth rates. Two main factors explain the growth of the market in Italy: the growing concern of the population for sustainability issues and a greater attention to savings.
In fact, especially in the field of lighting, a growing portion of people are opting for LED lighting sources, as they are able to consume much less energy than traditional forms of lighting and also have better prospects in terms of longevity.
Also complicit in the high growth of the Italian LED market have been the numerous government incentives, such as the 110% Super bonus and the 110% Eco bonus, which have significantly incentivized the Italian population to make the energy efficiency of their homes or companies more efficient, thus also reducing the environmental impact. This dynamic has, in fact, led to a growing preference for LED lighting because of its greater attention to sustainability.
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The LED market Light-emitting diodes - Italy
Publicado en 03/02/2022 by Guido Perin - Tcrea Srl
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