The Africa LED and OLED displays and lighting products market, once valued at US$ 684.9 million in 2015, is now set to illuminate the region with a remarkable projected Compound Annual Growth Rate (CAGR) of 17.8% during the forecast period of 2016–2026. The market’s glowing future is attributed to the increasing government support and the introduction of new government projects for LED lighting, creating a radiant path for the lighting products market in Africa.
Africa LED & OLED displays and lighting products market consisted of 30.9 million units. Fast forward to 2026, and it is poised to shine even brighter, with an expected market volume of 206.7 million units. The light-emitting diode (LED) technology is at the heart of this luminous transformation, being one of the most energy-efficient and rapidly-evolving lighting technologies.
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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.
Competitive Landscape – Regional Trends The competitive landscape of this market is characterized by regional trends. Different African countries are embracing LED and OLED lighting solutions at varying paces, influenced by factors such as economic development, infrastructure projects, and energy conservation efforts. It is essential for market players to tailor their strategies to align with the unique dynamics and demands of each region.
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Restraints While the Africa LED and OLED displays and lighting products market exhibit significant potential, it is not without its challenges. These include issues related to affordability and accessibility, particularly in less economically developed regions. Additionally, the market faces competition from traditional lighting technologies, which still have a presence in certain segments. Overcoming these barriers will be crucial for sustained market growth.
Region-wise Insights – Category-wise Insights For a more comprehensive understanding of the market, it is essential to analyze regional and category-specific trends. These insights will help stakeholders make informed decisions and capitalize on growth opportunities in specific areas and product segments.
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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