According to the latest report by IMARC Group titled, “Japan LED Market Research Report and Forecast 2021-2026”, the Japan LED market reached a value of US$ 6.1 Billion in 2020. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Base Year: 2020
Forecast Year: 2021-2026
Download free sample of the report: https://www.imarcgroup.com/japan-led-market/requestsample
Industry Definition and Application:
A light-emitting diode (LED) stands for a semiconductor device that produces non-coherent and narrow-spectrum light after the electric current is passed through it. LED lights are more eco-friendly than conventional lights and save approximately 90% of the overall energy. Furthermore, LED light also offers minimized heat radiation, shock-resistant, higher durability, and lower power consumption. Japan instigated LED industry policies with its “21st Century Lighting Project,” quite early in 1998. However, until 2010, it was unsuccessful in promoting LED lighting due to delay in standard-setting. The industry again gained traction after the earthquake in Fukushima, closing all nuclear power plants running in the country and creating a massive power supply gap.
The Japanese government replaced incandescent light bulbs with energy-efficient LED lighting systems to resolve the power shortage concern. Moreover, the expanding consumer electronic sector in Japan has augmented the usage of LED lights in smartphones, feature phones, digital video cameras, and other electronic devices. These lights are also used in automotive, general lighting, signal and signage, healthcare, forensic, academics, etc. The Japanese government offers several incentives and subsidy programs to promote the adoption of LED lights in the country. With rapid advancements in LED technology, various manufacturers are introducing innovative lighting products with increased efficiency and durability. Additionally, the rising environmental concerns towards carbon emissions from fluorescent lamps are further augmenting the demand for LED lights.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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
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