Aptos, CA, August 02, 2017 --(PR.com
)-- ElectroniCast Consultants, a leading market research consultancy covering the LED lighting industry, today announced the release of their global market forecast of the use of light emitting diode (LED) professional production lights in Television/Broadcast, Motion Picture, and Videography.
According to the market forecast report, the global consumption of LED professional lighting lamps/fixtures reached $197.9 million in 2016, an 11% increase versus 2015. During the forecast period, the value of the LED-equipped lighting is forecast to increase to $508.5 million in the year 2026. Market forecast data in the study report refers to consumption (use) for a particular calendar year; therefore, this data is not cumulative data.
The worldwide value of LED-based production lighting in the Television/Broadcast segment was $112.3 million in 2016, compared to $57.1 million in the Motion Picture category and $28.5 million in the Videography industry segment.
According to the market study, the volume (quantity) of LED-based lighting in the TV/Broadcast industry sector is forecasted to increase at an annual average of 8.6% during the forecast period (2016-2026).
TV/Broadcast stations worldwide continue to retrofit their studios with LED-based production lights, to improve the picture quality with the new HDTV-based requirements. Also, other benefits of LED lighting versus the incumbent lighting, includes consumption of less electrical power and quiet operation (no fan required), as well as "flicker-free" operation. Also, LEDs not only use less energy, less air conditioning is required in the studio, since heat generated by LED lights is negligible.
LED production lights in the motion picture/film category is driven by requirements for lighting effects and set lighting, mainly because of its flexibility. A single light source can generate a great variety of colors. Additionally, continuous cost/performance improvements driven by technological advancements are driving the LED lighting fixture market from a niche-only solution to a general use solution.
ElectroniCast Consultants – specializes in forecasting trends in technology forecasting, markets and applications forecasting, strategic planning and consulting. ElectroniCast Consultants, as a technology-based independent forecasting firm, serves industrial companies, trade associations, government agencies, communications and manufacturing companies, as well as the investment/financial community. Reduction of the risk of major investment decisions is the main benefit provided. ElectroniCast Consultants’ goal is to understand the challenges and opportunities facing clients and to provide timely, accurate information for strategic planning.