Aptos, CA (USA) -A leading market research firm, today announced the release of their study results of the worldwide use of light emitting diode-lighting lamps/devices used in Public Transportation Vehicles. The report provides estimated consumption market data for 2017, plus the year-by-year forecast through 2024.
According to the market research study, the worldwide value of selected LED-based lamps/devices on public transportation vehicles reached $1.77 billion in 2017.
The Asia Pacific region (APAC) led in global consumption with 53 percent in relative market share in 2017. The EMEA region (Europe, Middle East and Africa countries) held a 26 percent share of the public transit vehicle LED lamp/device consumption value, last year. The American region (South, Central and North America) region, led by the United States, is forecast to remain in the third-place position throughout the forecast period.
The bus (vehicle) category held the lead in relative market share of global consumption with $598 million in 2017. The (more) mature bus category is forecast to increase at a relatively slower pace versus the light-rail/tram public transportation modes, the rapid transit/metro vehicle types, and the high-speed and commuter vehicle types. The Rapid-transit/Metro vehicle category is forecast to slowly narrow the gap versus the Bus category, over the forecast period.
This study is based on analysis of information obtained continually over the past several years, but updated through early April 2018. During this period, ElectroniCast analysts performed interviews with selected authoritative and representative individuals in the LED lighting product manufacturing, LCD TV/monitor manufacturing, and advertisement, mass transit authorities, transportation/infrastructure, R&D, display and retail industry, mobile/portable device developers, government, and other. The interviews were conducted principally with:
Engineers, marketing personnel and management at manufacturers of LEDs (chips, components, lamps and fixtures) and LCD, as well as other technologies.
Design group leaders, engineers, marketing personnel and market planners at major users and potential users of LEDs.
Other industry experts, including those focused on standards activities, trade associations, and investments.
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