In a recent market report titled “Africa LED & OLED Displays and Lighting Products“ Market: Africa Industry Analysis and Opportunity Assessment, 2016-2026,” Future Market Insights stated that the market for LED & OLED displays and lighting products in Africa was valued at US$ 684.9 Million in 2015 and is anticipated to grow at a CAGR of 17.8% from 2016 to 2026.
The market for lighting goods in Africa is expanding, say experts at Future Market Insights, thanks to growing government support and the launch of new government programs for LED lighting. The development of the IFC and World Bank’s “Lighting Africa” initiative is a major factor in the region’s expanding market for lighting supplies. The market for LED and OLED displays is expanding in Africa due to things like a growing subscriber base for smartphones and increasing consumer spending on television services.
In comparison to conventional bulbs and CFLs, LED lighting products have a longer lifespan (roughly 50,000 hours of brightness) and are more energy-efficient. LED lighting goods compete with conventional lights on factors like longevity, energy efficiency, environmental friendliness, durability, heat output, and size.
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Displays and lighting products are the two categories used to classify the market for LED and OLED products in Africa. The market is further divided into mobile displays, consumer TV displays, and outdoor LED displays based on display types. The African market is divided into sections based on product type and uses for lighting goods. The market is further divided into LED bulbs, bare LED tubes, LED fixtures, and solar LED lighting based on the kind of product. Street lighting, down lighting, garden lighting, ceiling lighting, ornamental and portable lighting, and other types of lighting are some of the applications that the industry is divided into.
Market highlights
- The consumer TV displays sub-segment was valued at US$ 130.2 Mn in 2015 and is anticipated to register a CAGR of 18.8% during the forecast period. The introduction of off-grid solar-powered television for rural areas of the African region is expected to drive the growth of this market during the forecast period.
- The LED bulbs sub-segment accounted for the highest market share and was valued at US$ 193.9 Mn in 2015. However, the solar LED lighting sub-segment is expected to register a healthy CAGR of 28.6% during the forecast period.
- Among applications, the street lighting segment accounted for the highest market share in 2015, occupying 37.6% share of the African lighting products market.
Regional Insights
This report also covers trends driving each segment and offers analysis and insights regarding the potential of the Africa LED and OLED displays and lighting products market in some key countries including Nigeria, Ethiopia, Egypt, Congo, South Africa, Tanzania, Kenya, Algeria, Sudan, Morocco, Niger, Tunisia, and Gabon. Among these countries, Nigeria accounted for the largest market share in 2015, owing to the development of telecommunications infrastructure and increasing internet governance, which in turn is driving the smartphone penetration in the country.
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Vendor highlights
Key players in the Africa LED and OLED displays and lighting products market include Cree Corporation, Samsung Electronics Limited, GE Lighting, LLC, Sharp Corporation, OSRAM Licht AG, Daktronics Inc., Eaton Corporation, LG Display Co., Ltd., Barco N.V., Luceco Ltd., LED Lighting SA, and Eagle Lighting.
Market Segmentation
By LED and OLED Displays
- Mobile Displays
- Consumer TV Displays
- Outdoor LED Displays
By Lighting Products
- By product type
- By application
Countries Covered
- Nigeria
- Ethiopia
- Egypt
- Democratic Republic of Congo
- South Africa
- Tanzania
- Kenya
- Algeria
- Sudan
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10 years.
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