Light Engine Market — Analyzing Growth by focusing on Top Key Operating Vendors

The global light engine market is prognosticated to expand at a significant pace within the forecast period from 2018 to 2026, at a steady CAGR of 9.61%. The global light engine market is foreseen to keep on being influenced due to various factors for example, increase in adoption of LED lighting all over the world. Moreover, various government regulations imposed regarding energy saving and adoption of LED is another contributing factor in the growth of global light engine market.
Moreover, the rise in usage of flexible light engines in commercial and residential area is also leading to the expansion of the market in coming years. Additionally, the extensive usage of round or linear light engine in areas such as industrial, commercial, and residential is also fueling the overall demand in the market. Furthermore, horticulture and automotive industries are using rigid light engines. Also, LEDs are being used in street lights, which is acting beneficial for light engine market, globally.
Regionally, North America is anticipated to account for a major market share of the light engine market within the forecast period. This is as a result of the presence of various well-settled organizations in the region.
In addition, the region is experiencing increased rate of adoption of light engine due to consistent advancement in technology, along with several initiatives by the governments of several countries.
Some of the key players in the market are OSRAM Licht Group, Philips Lighting Holdings B.V., Fulham Co., Inc., MaxLite, Inc., Tridonic, General Electric Company, Fusion Optix, Inc., Thomas Research Products, Cree Inc., and RS Components Pty Ltd.

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