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Energy Efficiency, Downtrend in LED Lighting Prices, and Increased Acceptability are Driving the Market
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The LED lighting market in the GCC is a high-growth market, which is driven primarily by increased functionality, energy efficiency targets, and increasing awareness among customers. Currently, LED lighting accounts for only 37.6% of the total lighting market in the GCC region; however, it is expected to be a high-demand lighting technology across the region by 2020, accounting for approximately 56.8% of the total lighting market. This study presents a detailed analysis of growth opportunities by country and by end-user segments or applications. The study also broadly discusses the macro-economic scenario, regulations, and other factors impacting the LED lighting market in the GCC.
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