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24.4% CAGR for Filament LED Bulb Market Revenue to Cross $6.62 Billion, Globally, by 2028 – Comprehensive Report by The Insight Partners

The Insight Partners
The Insight Partners

The global filament LED Bulb market growth is impelled by increase in home renovation and remodelling activities, investments in maintenance and refurbishment of residential and commercial spaces and embrace of diverse cultures in terms of interior décor.

New York, Feb. 01, 2023 (GLOBE NEWSWIRE) -- According to The Insight Partners, “Filament LED Bulb Market Size, Share, Growth and Global Forecast to 2028 - COVID-19 Impact and Global Analysis By Product (0-25-Watt Type, 25-40-Watt Type, 40-60-Watt Type, and Above 60-Watt Type); Application (Residential, Restaurants and Bars, Hotels, Café, and Others) and Geography”, The global filament LED Bulb market size is estimated to grow at a CAGR of 24.4% from 2021 to 2028; it is expected to grow from USD 1.43 billion in 2021 to USD 6.62 billion by 2028.


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Global Filament LED Bulb Market – Report Scope:

Market Size Value in

USD 1.43 Billion in 2021

Market Size Value by

USD 6.62 Billion by 2028

Growth rate

CAGR of 24.4% from 2021-2028

Forecast Period

2021-2028

Base Year

2021

No. of Pages

160

No. of Tables

56

No. of Charts & Figures

74

Historical data available

Yes

Segments covered

Product ; Application and Geography

Regional scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country scope

US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends


Filament LED Bulb Market: Competitive Landscape and Key Developments

Havells India Ltd., Wipro Consumer Lighting, OSRAM GmbH, Signify Holding (Philips), and Seoul Semiconductor Co., Ltd. in 2020. Are the top five key players profiled in the filament LED bulb market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their growth. A few developments in the filament LED bulb market are mentioned below:

In June 2021, Signify, the world leader in lighting is further enhancing the user experience of millions of Philips Hue users worldwide as it launches the fourth generation of the Philips Hue app. New technologies improve app performance in overall functioning and in communication with the smart lighting system.


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In March 2021, Wipro Consumer Care and Lighting’s quickly shifted its attention to where the consumers were, i.e. online. It tried to take it easily by understanding the changing consumer demand and shifts in the media landscape. Their learnings from the first wave of COVID-19 helped them manage the situation easily during the second wave.

The filament LED bulb market growth in North America is mainly driven by growing LED adoption. LED product installations increased in all applications across the region from 2016 to 2018, approximately doubling to 2,325 million units or 30% of total general illumination lights. A-type lamps now account for nearly half of all LED lighting installations, with a 32.9% installed penetration in this application. Decorative lamps now have the lowest installed LED penetration, though this has increased from 7.9% to 16% between 2016 and 2018. Although LEDs have a higher penetration rate in outdoor lighting (51.4%) than indoor lighting (29.8%), total LED installations in indoor applications are significantly higher (2.2 billion vs 100 million). With the rise of the smart home trend in the region, there has been an increase in demand for intelligent LED lighting systems that are connected to other electrical devices and can be controlled remotely. Vendors in regional markets have also been concentrating on making linked lighting more accessible, which has resulted in global innovation. High investment by regional players is also fueling the growth of the market in North America.


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Surge in Product Innovations and Launches Coupled with High Expansion Strategies to Provide Lucrative Opportunities for Global Filament LED Bulb Market Growth during (2021-2028):

Rapid industrialization and urbanization across the globe are boosting the construction of residential places and commercial places such as restaurants, cafes, bars, and office complexes. These new constructions, coupled with a rise in spending by the owners to offer an aesthetic environment across the same, are influencing the filament LED bulb manufacturers to constantly renovate and launch new products to offer their customers more options to select from. A few such recent product developments are mentioned below.

In March 2021, Verbatim Lighting partnered with Coresential to represent itself in Florida territory and  North and South Carolina. This partnership will help the company to expand its market reach in the respective countries, thereby contributing to its revenue growth.

In August 2018, Verbatim Lighting launched LED S14 lamps in clear and amber colors. Verbatim LED S14 Lamps are ideal for use in signage applications. These lamps are wet-rated and enclosed fixture rated; hence, they are ideal for outdoor use, such as in gardens and open cafes.


Buy Premium Copy of Filament LED Bulb Market Growth Report (2021-2028) at: https://www.theinsightpartners.com/buy/TIPRE00019780



Browse other research published by The Insight Partners:

Global Smart LED Bulb Market Size Forecast to 2028 - Covid-19 Impact and Global Analysis - by Compatibility Type (Smartphones, Tablets, Laptops, Others (Smartwatch)); Technology (Wi-Fi, Bluetooth); Application (Residential, Commercial, Others) and Geography

Global Outdoor LED Display Market Size Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Individual Mounted, Surface Mounted); Application (Billboards, Mobile Panels, Perimeter Boards, Traffic Lights, Video Walls, Others) and Geography

Global LED Lighting Market Size Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type ( Lamps, Luminaires ); Application ( Indoor Lighting, Outdoor Lighting ); End-user ( Industrial, Commercial, Residential, Government Bodies ), and Geography

Global LED Flashlight Market Size to 2027 - Global Analysis and Forecasts byType (Rechargeable LED Flashlight and Non-Rechargeable LED Flashlight); Application (Residential, Commercial, and Military & Law Enforcement)

Global LED Chips Market Size Forecast to 2028 - COVID-19 Impact and Global Analysis by Type (Multi-Chip LED, Single Chip LED); Compunds (Gallium Nitride, Gallium Arsenide, Gallium Phosphide) and Geography

Global High Power LED Market Size Forecast to 2028 - Covid-19 Impact and Global Analysis - by Packaging Type (Mesa, Flip Chip, Vertical); Application (Automotive, Back-lighting, Mobile Device, General Lighting, Signals and Signage, Others) and Geography

Global LED Driver Market Size Forecast to 2028 - Covid-19 Impact and Global Analysis - by Supply Type (Constant Current and Constant Voltage); Application (Automotive Lighting, General Lighting, and Backlighting); and End Users (Residential, Commercial and Industrial)

Global UV LED Market Size to 2025 - Global Analysis and Forecasts by Technology (UV-A LED, UV-B LED, UV-C LED), Applications (Curing, Medical, Electronic Devices, Water Treatment, Security and Others)

Global Infrared LED Market Size Forecast to 2028 - Covid-19 Impact and Global Analysis - by Spectral Range (700nm-1500nm, 1500nm-1750nm, and Above 1750 nm); Application (Imaging, Lighting, Surveillance, Biometrics, and Optical Sensing); and End-Use (Aerospace & Defense, Automotive, General Lighting Industry, Consumer Electronics, BFSI, Healthcare, Retail, and Others)

Global Smart LED Indoor Signage Market Size Forecast to 2028 - COVID-19 Impact and Global Analysis By Screen Size (Less Than 32'', 32-35'', 55'' and above); Application (Retail Industry, Public, Sports, Others) and Geography



About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Contact Us:
If you have any queries about this report or if you would like further information, please contact us:

Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
Press Release: https://www.theinsightpartners.com/pr/filament-led-bulb-market