LED light engine consists of a LED chip mounted on a circuit board. It features light emitting devices and a heatsink that is a constant current driver. Factors such as increasing adoption of LED lighting in automotive industry, favourable government regulations and energy saving properties of LED device are expected to drive the global LED light engine market in the coming few years.
Other factors, which are expected to play a vital role in the growth of the global LED light engine market are mentioned as below, have a look-
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• Increasing governmental investments to modernization and development of infrastructure, initiative to maintain e growing smart cities, implementation of lighting IoT based lighting and reduction in the price of LED are some other factors likely to fuel the LED light engine market.
• Growing adoption of LED based light in residential buildings and commercial sector on account of longer shelf life are some of the prominent factors projected to boost the LED light engine market.
• Further, several regulatory authorities across the globe are adopting LED light engine in order to implement energy-efficient lighting solutions. In addition to this, LED light engine have a lower operation life as compared to conventional lighting. Thus offering several lucrative gains for the growth of the LED light engine market.
• Moreover, substantial rise in number of residential sectors on the back [of increasing urbanization and industrialization is a prominent factor projected to propel the LED light engine market.
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• This can be attributed by the fact, that in next 10 years around 20 million homes are likely to be built in China where as 18 million homes are expected to construct in India. This is likely to provide several growth opportunities in the LED light engine market.