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According to a report by Persistence Market Research, a foreign market research organization, the global architectural LED product market will see steady growth. The implementation of various regulations and regulations by governments around the world to encourage the deployment of LED lighting systems in the construction area has greatly stimulated the vigorous development of the building LED product market. In 2015, the global market for architectural LED products reached US$3.9775 billion. Analysts expect that the global architectural LED product market will jump to US$10.751 billion by 2021, with a compound annual growth rate of 17.90% during 2015-2021. Demand for traditional LED products is stable From the perspective of types, solar LED products and traditional LED products are the two most important areas of the global architectural LED product market. At present, traditional LED products dominate the global architectural LED market. The market valuations of traditional LED products in 2014 and 2015 were $3.209 billion and $3.746 billion, respectively. The demand for LED lamps, LED strips and linear products is driving the development of traditional LED products. In the future, these LED products will become the leading market for architectural LED products. Wall washing, groove lighting, backlight, and special lighting have become the main applications Wall washing, groove lighting, backlight and special lighting are the main application areas of architectural LED products. In 2014, the market value of architectural LED products in the field of wall washing was estimated at US$1,355.7 million. Analysts expect this figure to be US$1.557 billion in 2015, which will capture 38.8% of the market. The dramatic increase in demand for lighting systems in large-area venues such as museums and modern buildings has contributed to the development of the architectural LED market, with a compound annual growth rate of 18.5% during 2015-2021. The business sector has become the largest end user The commercial and residential sectors have become the main end users of the architectural LED product market. In 2014, the business sector accounted for 76.9% of the total revenue of the global architectural LED market. Analysts expect its share to rise to 77.3% in 2015. The retail market, financial services and insurance, IT, telecommunications, healthcare, media and entertainment industries, museums and other commercial areas have become the main markets for architectural LED products worldwide. Asia Pacific maintains market leadership The main markets for building LED products are: Asia Pacific, North America, Latin America, Europe, Middle East and Africa. In 2015, the Asia-Pacific region seized 47.1% of the market share. During 2015-2021, the Asia-Pacific architectural LED product market will grow at the highest compound annual growth rate, and other regions will maintain steady growth. The major manufacturers of the global architectural LED products market are: Samsung Electronics, Eaton, Weibo, OSRAM, Philips, Lumileds, Epistar, Toshiba, Cree and GE Lighting. (Text / Silvia translation)
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