LED & OLED Lighting Products and Displays Market in the Middle East Propelled by Carbon Reduction and Smart Urbanization Initiatives, says Future Market Insights

Middle East

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Oct 03, 2020 (MARKITWIRED via COMTEX) —
The Middle Eastern LED & OLEDlighting products and displays market is anticipated to cross aUS$ 7.1 Bn valuation through the projection period from 2015 to 2025. Thecovid-19 pandemic has negatively impacted the market owing to a shortage ofelectronic components owing to production shut down in multiple countriesincluding China. On the other hand, potential disinfection applications with UVLED products will create growth opportunities.

“The Middle-East LED and OLED lighting industry is expected toremain resilient to market fluctuations. Regional governments will help inmaintaining stable investments, while private investments will continue togrow, particularly in hospitality sector applications,” says the FMIanalyst.

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LED & OLED Lighting Products and Displays MEA Market – PrimaryTakeaways

  • LED lamps are expected to reflect a high growth rate, propelled by demand for alternatives to conventional incandescent lights in the region.
  • Commercial applications of LED and OLED lighting products and displays are gaining traction, supported by changes in government regulations, and lighting standards.
  • Saudi Arabia is displaying widespread adoption of LED & OLED lighting products and displays owing development of smart lighting and li-fi systems in the region.

LED & OLED Lighting Products and Displays MEA Market – GrowthFactors

  • Indoor farming, light based wi-fi, and smart sunlight applications are generating niche application opportunities in the middle east.
  • Major investments from the Gulf Co-operation Council towards industrial and commercial lighting boost market prospects.

LED & OLED Lighting Products and Displays Market – Major Constraints

  • Higher costs of purchase and installation in comparison to conventional lighting reduces adoption, particularly in rural areas.
  • Growing competition from linear fluorescent and circadian lighting hurts market prospects.

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The Projected Impact of Coronavirus

The coronavirus pandemic is likely to result in increasing prices of LEDand OLED lighting products and displays in the Middle East. In addition,suspension of production activity in the electronics sector in multiplecountries, will hurt supplies of components required to produce LED and OLEDlighting products and displays around the globe. However, recent research onUV-based LED products for disinfection applications during the pandemic willgenerate substantial opportunities for growth within the industry.

Competition Landscape

The Middle East LED & OLED lighting products and displays marketcomprises players including but not limited to LG Display Co. Ltd., GELighting, Zumtobel Group AG, OSRAM Light AG, Toshiba Lighting and TechnologyCorp., Daktronics Inc., and Barco N.V.

Players in the Middle East LED and OLED lighting products and displaysmarket are pushing for the expansion of production capacities, and productinnovations to widen the scope of application to multiple verticals.

For instance, Rexton Technologies has opened the largest LEDtechnologies production facility of the Middle East and North Africa sector inSharjah. Barco N.V. has unveiled a new range of LED-based video andpresentation control systems with 4k technology. OSRAM Light AG has developed anew LED lighting product for automotive applications in dense fog conditions.

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More About the Study

The FMI study provides detailed insights on LED & OLED lightingproducts and displays market. The market is broken down in terms of type(solar, conventional, mobile display, consumer TV display, outdoor LEDdisplay), and end use (residential and commercial) across two key regions (GCCand Levant).

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About Future Market Insights

Expert analysis, actionable insights, and strategic recommendations ofthe experienced research team at FMI helps clientsfrom across the globe with their unique business intelligence requirements.With a repository of more than thousand reports and 1 million+ data points, theteam has studied the electronics, semiconductors, and ICT sector across 50+countries for over a decade. The team provides unmatched end-to-end researchand consulting services. Reach out to explore how we can help.

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Report: https://www.futuremarketinsights.com/reports/middle-east-led-oled-lighting-products-displays-market

Press ReleaseSource:https://www.futuremarketinsights.com/press-release/middle-east-led-oled-lighting-products-displays-market

SOURCE: Future Market Insights

COMTEX_372238742/2612/2020-10-03T03:35:51

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