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A report on Indonesia's LEDs Market was added by Kenneth Research which covers the market size and growth over the forecast period 2022-2031. The market study involves analysis of the product demand and market on the basis of various factors and through a number of analytical tools.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Indonesia's LEDs Market products.
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Factors such as the growing trade of semiconductors for use in different consumer electronic products, along with the growing trend of automation and IoT, which is raising the need for the deployment of advanced electronic chipsets, therefore the advancement in the trade of semiconductors. According to the statistics by World Semiconductor Trade Statistics (WSTS), semiconductor billings around the globe per 12 months rolling average increased from around USD 250 billion in the year 2010 to around USD 460 billion in the year 2019.
Indonesia is one of the countries with rich resources but lesser industrialization. The increasing industrialization of Indonesia is demanding more and more power in already power deficit economy with low electrification rate.
Light Emitting Diodes (LEDs) based lighting, which needs 30–90% less electricity as compared to other lighting sources, is being promoted as a product to reduce the power requirement.
The economic growth and urbanization are expected to further increase the pressure on existing infrastructure, demanding higher power requirements. Thus, growing power deficit is in turn expected to fuel the market growth for LED based products in the Indonesian market.
The study of Indonesia LEDs market provides the market size information and market trends along with the factors and parameters impacting in both short and long term. The study also covers the competitive scenario of the market with respect to the raw material availability, major players with their branding strategies and differentiating factors among others.
The study ensures a 360° view, bringing out the complete key insights of the industry. These insights help the business decision makers to make better business plans and informed decisions for the future business. In addition, the study helps the venture capitalist in understanding the companies better and take informed decisions.
According to Infoholic Research, Indonesia's LEDs market is expected to grow at a CAGR of 21.5% during the forecast period to reach $1.85 billion by 2022. The lighting segment is expected to contribute the largest growth towards the LED market and is expected to be driven by the government initiatives, decreasing LED prices, and investments from multinational players in the Indonesian market.
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Growing trade relation between Indonesia and China in LED market is expected to be helpful for domestic producers in LEDs procurement. Many multinational companies have invested in Indonesia and government is expected to support domestic production during the forecast period. Some of the prominent players in Indonesian LED market are LeKise International, Mouser Electronics, Solarens Ledindo, PT Philips Indonesia, and PT OSRAM Indonesia.
About Kenneth Research
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
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James Bullock
James Bullock is a Research Expert with a demonstrated history of working in the professional training & coaching industry. Strong professional skilled in business strategy , Strategic Planning, Research Strategy, and Marketing. also have interest in new innovations and technology
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