The recent noteworthy initiative in this regard is by Phillips Lighting where the company has developed LED lamps in a research partnership with Dubai Municipality. The company aims to supply 2 million ‘Dubai Lamps’ across the city in 2017, covering the residential and commercial sectors. This number is estimated to reach 10 million lamps by 2021, which signifies the huge expansion of LED lamp market across the country. Philips claims these lamps to reduce the electricity consumption by 90%. The innovation of ‘Dubai Lamps’ is certainly a groundbreaking move in the LED lamp industry. Other companies exploiting the opportunities in the LED lamp market include GE, Cree, Samsung, Osram, etc.
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The emerging economies such as India and China are becoming popular platforms for the LED lamp market expansion. The rapid economic development, urban projects, and favorable government policies are the factors influencing the investments of the industry players in these regions. For instance, the Government of India, under the UJALA scheme, provides these lamps at lower prices, making it quite a viable option for the lower-income groups as well. Lighting Africa Program by the World Bank which enables sustainable lighting solutions access to 250 million people across sub-Saharan Africa, also provided a phenomenal impetus to LED lamp industry.............Europe is also one of the prominent regions partaking in the LED lamp industry share. The energy standards set by the European Commission has propelled the adoption of LED lamps across residential, industrial, and public areas. As per the estimates, Europe accounted for 25% of the overall LED lamp market size in 2016 and is forecast to witness phenomenal gains over the years ahead. Apart from the favorable government norms, the technological advancements in this region such as Smart Homes and Smart City initiatives are also driving the Europe LED lamp industry size.