With the epidemic, how is the LED light market? Yesterday we shared about the LED light market in US and Europe, now we continue to see how is the LED light market in APAC.
APAC to dominate the LED market with a 50% share and the market will record the highest growth in the region during the forecast period. The market in APAC is growing at a rapid rate due to the increased demand for LEDs from commercial and residential end-users. The region is emerging as a global hub for industries such as retail, hospitality, and healthcare. Many multinational companies are setting up their manufacturing facilities in the region due to the availability of low-cost labor and raw materials. Darüber hinaus, the thriving IT infrastructure in the region is expected to foster the growth of the LED market in APAC during the forecast period.
