According to the latest report by IMARC Group titled, “Japan LED Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the Japan LED market size reached US$ 6.1 Billion in 2020.
A light-emitting diode (LED) refers to a two-lead semiconductor device that allows the flow of current in the forward direction while blocking the current in reverse. The p-n junction diode emits light when an electric current is passed narrow-spectrum light that is highly directional in nature. This enables LEDs to utilize the produced energy and light in an efficient manner, unlike incandescent lights and compact fluorescent lamps (CFL). Widely available in a variety of colors and shapes, these lighting devices are compact in size with fast switching options. They are also characterized by low heat output and minimum radiation emission while having an extended shelf life. As a result, they are widely being used across the commercial, residential and industrial segments for numerous application segments.
Request to get the sample report: https://www.imarcgroup.com/japan-led-market/requestsample
The market is primarily driven by the growing demand for energy-efficient lighting solutions in Japan. The rising incidences of power shortages and outages across the country have significantly contributed to the increasing uptake of LED lights. Additionally, the Government of Japan has phased out incandescent light bulbs over the past few years, which has escalated the demand for LED lighting systems.
The government also aims to phase out fluorescent tubes by 2020 as they are considered to be an inefficient source of lighting. This, along with the gradual shift toward the use of sustainable products in the country, has consequently catalyzed the demand for LED lights across the country, thereby creating a positive outlook for the market. There has also been a considerable decline in the selling prices of LEDs in Japan, which is acting as another major growth-inducing factor. Some of the other factors contributing to the market growth include the increasing infrastructural development and smart city projects across the country.
Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/japan-led-market
Insights on Market Segmentation:
Market Breakup by Product Type
Market Breakup by Application
Market Breakup by Installation Type
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
30 N Gould St
Sheridan, WY 82801
Follow us on twitter: @imarcglobal