Global Waterproof LED Module
Market Report
2025
Delivery Includes:- Market Timeline 2021 till 2033, Market Size, Revenue/Volume Share, Forecast and CAGR, Competitor Analysis, Regional Analysis, Country Analysis, Segment Analysis, Market Trends, Drivers, Opportunities, Restraints, ESG Analysis, Porters Analysis, PESTEL Analysis, Market Attractiveness, Patent Analysis, Technological Trend, SWOT Analysis, COVID-19 Analysis, Consumer Behavior Analysis, etc.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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"Global Waterproof LED Module market size 2025 is $2857.2 Million whereas according out published study it will reach to $6289.6 Million by 2033. Waterproof LED Module market will be growing at a CAGR of 10.366% during 2025 to 2033."
As per the current market study, out of 2857.2 Million USD global market revenue 2025, North America market holds 24.45% of the market share. The North America Waterproof LED Module industry grew from 483.363 Million USD in 2021 to 698.585 Million USD in 2025 and will record 69.19% growth. In coming future this industry will reach 1459.19 Million by 2033 with a 9.644% CAGR. If we look at the percentage market shares of top North America countries for 2025,United States (83.76%), Canada (11.09%), Mexico (5.15%)
As per the current market study, out of 2857.2 Million USD global market revenue 2025, Europe market holds 20.30% of the market share. The Europe Waterproof LED Module industry grew from 400.556 Million USD in 2021 to 580.012 Million USD in 2025 and will record 69.06% growth. In coming future this industry will reach 1232.76 Million by 2033 with a 9.883% CAGR. If we look at the percentage market shares of top Europe countries for 2025,United Kingdom (16.30%), Germany (20.20%), France (13.05%), Italy (9.78%), Russia (4.90%), Spain (8.69%), Sweden (6.25%), Denmark (3.60%), Switzerland (5.39%), Luxembourg (1.25%), Rest of Europe (10.59%)
As per the current market study, out of 2857.2 Million USD global market revenue 2025, Asia Pacific market holds 44.05% of the market share. The Asia Pacific Waterproof LED Module industry grew from 831.923 Million USD in 2021 to 1258.6 Million USD in 2025 and will record 66.10% growth. In coming future this industry will reach 2886.93 Million by 2033 with a 10.935% CAGR. If we look at the percentage market shares of top Asia Pacific countries for 2025,China (32.00%), Japan (16.05%), India (14.35%), South Korea (7.39%), Australia (4.74%), Singapore (2.96%), South East Asia (8.29%), Taiwan (3.90%), Rest of APAC (10.32%)
As per the current market study, out of 2857.2 Million USD global market revenue 2025, South America market holds 4.68% of the market share. The South America Waterproof LED Module industry grew from 88.584 Million USD in 2021 to 133.717 Million USD in 2025 and will record 66.25% growth. In coming future this industry will reach 303.285 Million by 2033 with a 10.779% CAGR. If we look at the percentage market shares of top South America countries for 2025,Brazil (38.40%), Argentina (17.83%), Colombia (16.47%), Peru (5.75%), Chile (11.07%), Rest of South America (10.48%)
As per the current market study, out of 2857.2 Million USD global market revenue 2025, Middle East market holds 3.65% of the market share. The Middle East Waterproof LED Module industry grew from 69.327 Million USD in 2021 to 104.145 Million USD in 2025 and will record 66.57% growth. In coming future this industry will reach 233.784 Million by 2033 with a 10.636% CAGR. If we look at the percentage market shares of top Middle East countries for 2025,Saudi Arabia (22.99%), Turkey (18.49%), UAE (18.39%), Egypt (18.41%), Qatar (11.19%), Rest of Middle East (10.53%)
As per the current market study, out of 2857.2 Million USD global market revenue 2025, Africa market holds 2.88% of the market share. The Africa Waterproof LED Module industry grew from 51.995 Million USD in 2021 to 82.145 Million USD in 2025 and will record 63.30% growth. In coming future this industry will reach 173.656 Million by 2033 with a 9.809% CAGR. If we look at the percentage market shares of top Africa countries for 2025,Nigeria (18.18%), South Africa (36.26%), Rest of Africa (45.56%)
2021 | 2025 | 2033 | CAGR | |
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Global Waterproof LED Module Market Sales Revenue | $ 1925.7 Million | $ 2857.2 Million | $ 6289.6 Million | 10.366% |
North America Waterproof LED Module Market Sales Revenue | $ 483.363 Million | $ 698.585 Million | $ 1459.19 Million | 9.644% |
United States Waterproof LED Module Market Sales Revenue | $ 406.508 Million | $ 585.135 Million | $ 1211.56 Million | 9.524% |
Canada Waterproof LED Module Market Sales Revenue | $ 52.203 Million | $ 77.473 Million | $ 170.871 Million | 10.393% |
Mexico Waterproof LED Module Market Sales Revenue | $ 24.651 Million | $ 35.977 Million | $ 76.753 Million | 9.934% |
Europe Waterproof LED Module Market Sales Revenue | $ 400.556 Million | $ 580.012 Million | $ 1232.76 Million | 9.883% |
United Kingdom Waterproof LED Module Market Sales Revenue | $ 64.489 Million | $ 94.542 Million | $ 205.501 Million | 10.192% |
Germany Waterproof LED Module Market Sales Revenue | $ 79.31 Million | $ 117.162 Million | $ 262.578 Million | 10.614% |
France Waterproof LED Module Market Sales Revenue | $ 53.274 Million | $ 75.692 Million | $ 154.095 Million | 9.293% |
Italy Waterproof LED Module Market Sales Revenue | $ 39.655 Million | $ 56.725 Million | $ 117.359 Million | 9.513% |
Russia Waterproof LED Module Market Sales Revenue | $ 20.829 Million | $ 28.421 Million | $ 53.625 Million | 8.26% |
Spain Waterproof LED Module Market Sales Revenue | $ 34.448 Million | $ 50.403 Million | $ 109.469 Million | 10.18% |
Sweden Waterproof LED Module Market Sales Revenue | $ 24.834 Million | $ 36.251 Million | $ 78.095 Million | 10.069% |
Denmark Waterproof LED Module Market Sales Revenue | $ 14.612 Million | $ 20.869 Million | $ 43.245 Million | 9.536% |
Switzerland Waterproof LED Module Market Sales Revenue | $ 22.031 Million | $ 31.263 Million | $ 63.611 Million | 9.286% |
Luxembourg Waterproof LED Module Market Sales Revenue | $ 5.207 Million | $ 7.279 Million | $ 14.349 Million | 8.854% |
Rest of Europe Waterproof LED Module Market Sales Revenue | $ 41.866 Million | $ 61.406 Million | $ 130.833 Million | 9.917% |
Asia Pacific Waterproof LED Module Market Sales Revenue | $ 831.923 Million | $ 1258.6 Million | $ 2886.93 Million | 10.935% |
China Waterproof LED Module Market Sales Revenue | $ 264.552 Million | $ 402.751 Million | $ 936.808 Million | 11.129% |
Japan Waterproof LED Module Market Sales Revenue | $ 136.435 Million | $ 202.005 Million | $ 440.545 Million | 10.237% |
India Waterproof LED Module Market Sales Revenue | $ 115.637 Million | $ 180.609 Million | $ 441.7 Million | 11.827% |
South Korea Waterproof LED Module Market Sales Revenue | $ 63.226 Million | $ 93.01 Million | $ 201.796 Million | 10.166% |
Australia Waterproof LED Module Market Sales Revenue | $ 41.596 Million | $ 59.657 Million | $ 123.849 Million | 9.56% |
Singapore Waterproof LED Module Market Sales Revenue | $ 24.126 Million | $ 37.254 Million | $ 88.051 Million | 11.351% |
South East Asia Waterproof LED Module Market Sales Revenue | $ 67.386 Million | $ 104.338 Million | $ 249.142 Million | 11.494% |
Taiwan Waterproof LED Module Market Sales Revenue | $ 33.221 Million | $ 49.127 Million | $ 108.818 Million | 10.452% |
Rest of APAC Waterproof LED Module Market Sales Revenue | $ 85.744 Million | $ 129.845 Million | $ 296.218 Million | 10.86% |
South America Waterproof LED Module Market Sales Revenue | $ 88.584 Million | $ 133.717 Million | $ 303.285 Million | 10.779% |
Brazil Waterproof LED Module Market Sales Revenue | $ 34.194 Million | $ 51.347 Million | $ 115.309 Million | 10.642% |
Argentina Waterproof LED Module Market Sales Revenue | $ 15.502 Million | $ 23.842 Million | $ 56.32 Million | 11.344% |
Colombia Waterproof LED Module Market Sales Revenue | $ 14.616 Million | $ 22.029 Million | $ 48.234 Million | 10.293% |
Peru Waterproof LED Module Market Sales Revenue | $ 5.138 Million | $ 7.686 Million | $ 17.069 Million | 10.487% |
Chile Waterproof LED Module Market Sales Revenue | $ 9.744 Million | $ 14.802 Million | $ 34.059 Million | 10.978% |
Rest of South America Waterproof LED Module Market Sales Revenue | $ 9.39 Million | $ 14.011 Million | $ 32.294 Million | 11.002% |
Middle East Waterproof LED Module Market Sales Revenue | $ 69.327 Million | $ 104.145 Million | $ 233.784 Million | 10.636% |
Saudi Arabia Waterproof LED Module Market Sales Revenue | $ 15.876 Million | $ 23.943 Million | $ 54.144 Million | 10.738% |
Turkey Waterproof LED Module Market Sales Revenue | $ 12.687 Million | $ 19.256 Million | $ 44.349 Million | 10.991% |
UAE Waterproof LED Module Market Sales Revenue | $ 12.479 Million | $ 19.152 Million | $ 44.98 Million | 11.263% |
Egypt Waterproof LED Module Market Sales Revenue | $ 12.895 Million | $ 19.173 Million | $ 41.894 Million | 10.264% |
Qatar Waterproof LED Module Market Sales Revenue | $ 7.834 Million | $ 11.655 Million | $ 25.742 Million | 10.412% |
Rest of Middle East Waterproof LED Module Market Sales Revenue | $ 7.557 Million | $ 10.965 Million | $ 22.675 Million | 9.506% |
Africa Waterproof LED Module Market Sales Revenue | $ 51.995 Million | $ 82.145 Million | $ 173.656 Million | 9.809% |
Nigeria Waterproof LED Module Market Sales Revenue | $ 9.359 Million | $ 14.934 Million | $ 32.074 Million | 10.027% |
South Africa Waterproof LED Module Market Sales Revenue | $ 18.458 Million | $ 29.786 Million | $ 66.198 Million | 10.498% |
Rest of Africa Waterproof LED Module Market Sales Revenue | $ 24.178 Million | $ 37.425 Million | $ 75.384 Million | 9.148% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Type |
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Market Split by Application |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Report scope is customizable as we have a huge database of Waterproof LED Module industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Waterproof LED Module Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Market Dynamics such as Drivers, Restraints, Opportunities, Trends data
Market Drivers: The Waterproof LED Module industry is driven by multiple factors contributing to its growth. This section provides a detailed qualitative analysis of these drivers, enabling logical reasoning for market growth predictions
Market Restraints: This section examines the factors hindering the growth of the Waterproof LED Module market. These factors negatively impact market growth. Common restraints in the Electronics & Electrical industry include:
- Strict government regulations
- Supply chain disruptions
- Changing consumer preferences The COVID-19 outbreak's negative impact on the market is also discussed in detail in the final deliverable report. Analyzing restraining factors helps companies develop strategies to mitigate their negative effects.
Market Growth Opportunities: The Waterproof LED Module market presents opportunities for manufacturers to leverage growth. These opportunities open a growth window for new entrants and existing manufacturers, enabling them to capitalize on untapped potential.
Current Market Trends: Understanding current market trends is crucial for R&D departments, as it reveals the current market scenario, consumer choices, and pivot points. To access this valuable information, please refer to the paid version of the report.
We have various report editions of Waterproof LED Module Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
In 2025, global trade has entered a period of renewed volatility as the U.S., under President Donald Trump, introduced sweeping tariffs known as the Liberation Day Tariffs. Aimed at addressing trade imbalances and foreign supply chain dominance, the tariffs range from 10% on allies like Australia and the UK to 46% on Vietnamese goods and 34% on Chinese imports. A 25% universal tariff on steel, aluminum, and auto parts has further strained global trade ties. The electronics sector is among the hardest hit, particularly due to the escalating U.S.China trade war. Tariffs on Chinese goods now reach up to 145% in sectors like semiconductors and consumer electronics, while China has retaliated with up to 125% duties and restrictions on critical mineral exports. This has disrupted just-in-time supply chains and increased component costs.
Specific tariffs include 25% on semiconductors, 20% on lithium-ion batteries, and 10–15% on consumer electronics like laptops and tablets, leading to higher retail prices and reduced consumer demand. Sub-sectors such as home automation, computer hardware, communication electronics, medical devices, and industrial electronics are all under pressure due to rising input costs and supply chain delays. Companies are revisiting suppliers, shifting sourcing to countries like India, Mexico, and Vietnam, and redesigning products to avoid high-tariff components.
China remains a key player, contributing USD 119 billion in electronics exports to the U.S. in 2023. Even components routed through countries like Malaysia and Vietnam often rely on Chinese subparts, making the ripple effect of tariffs widespread. U.S. electronics firms operating on thin margins are seeing input costs rise 18–25%, with contract manufacturers in alternative regions facing capacity constraints.
Market research is now critical. It helps companies identify new suppliers, analyze cost trends, optimize product design, forecast demand shifts, and track regulatory changes. Tools like supplier mapping, BOM optimization, and scenario planning support strategic responses to ongoing disruptions. Leading firms like Apple and Dell are expanding production outside China, while others invest in digital supply chain tools and redesign products for cost resilience. In this evolving trade environment, firms that leverage research-driven strategies are better positioned to adapt and thrive.
Competitors Analysis is a crucial aspect for manufacturers of Waterproof LED Module to understand how their competitors are performing in the market. Our report provides a comprehensive analysis of top manufacturers, including their ranking, market share, financial performance over the last four years, product analysis, and SWOT analysis.
The report also includes detailed company profiling, which is an essential part of our deliverable. Furthermore, we provide insights into key developments such as new product launches, expansions, mergers and acquisitions, partnerships, agreements, joint ventures, business overviews, key strategies, and financial analyses associated with key players. This information is available in the paid report version.
Our research analysts and industry experts also discuss the impact of COVID-19 on the Waterproof LED Module market and the strategies implemented by manufacturers to mitigate the pandemic's effects. To learn more, you can book an appointment with our analyst or call us directly.
Top Companies Market Share in Waterproof LED Module Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
On the basis of Geographical Split we have analysed the said market on Global Level, ^ majaor Regions and Top perfromaing countries.
The market estimations and forecasts presented in this report are based on a thorough analysis of trends and growth rates, with 2024 serving as the base year. To facilitate a deeper understanding of our conclusions, the report incorporates a range of visual aids, including figures, graphs, pie charts, tables, and bar graphs. These illustrations provide a detailed analysis of current trends at the country and regional levels.
This comprehensive research report also examines key factors influencing the Waterproof LED Module market, such as profitability, product pricing, capacity, production, supply and demand dynamics, and market growth rates. By assessing these critical factors, the report provides a clear and authoritative outlook on the future prospects of the Waterproof LED Module market.
The current report Scope analyzes Waterproof LED Module Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
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Global Waterproof LED Module Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Waterproof LED Module Industry growth. Waterproof LED Module market has been segmented with the help of its Type, Application , and others. Waterproof LED Module market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
In terms of market segmentation split by Type we have analyzed Low Power 0.3W Below, Middle Power 0.3 0.5W, High Power 1W and above on the basis of key leading segment revenue and share along with reasons behind its dominance across the global as well as region level. Additionally, we have also incorporated revenue and Y-O-Y growth of each segment with detailed qualitative analysis.
Type of Waterproof LED Module analyzed in this report are as follows:
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Waterproof LED Module Industry. Request a Free Sample PDF!
Market segmentation based on Application explains not only the historical market size/share data of Advertising, Lighted Wallpaper, Others but also the forecasted revenue growth. This will also help to analyze the demand for Waterproof LED Module across different end-use industries. Our research team will also help acquire additional data such as Value Chain, Patent analysis, Company Evaluation Quadrant (Matrix), and much more confidential analysis and data insights.
Some of the key Application of Waterproof LED Module are:
The above Graph is for representation purposes only. This chart does not depict actual Market share.
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Senior Research Analyst at Cognitive Market Research
ResearchGate Profile: https://www.researchgate.net/profile/Kalyani-Raje
An optimistic Senior Research Analyst with years of experience in competitive assessment and business consulting. A seasoned professional and subject-matter expert (SME) in the Automobile and transportation vertical.
With a work experience of over 10+ years in the market research and strategy development. I have worked with diverse industries, including FMCG, IT, Telecom, Automotive, Electronics and many others. I also work closely with other departments such as sales, product development, and marketing to understand customer needs and preferences, and develop strategies to meet those needs.
I am committed to staying ahead in the rapidly evolving field of research and analysis. This involves regularly attending conferences, participating in webinars, and pursuing additional certifications to enhance my skill set. I played a crucial role in conducting market research and competitive analysis. I have a proven track record of distilling complex datasets into clear, concise reports that have guided key business initiatives. Collaborating closely with multidisciplinary teams, I contributed to the development of innovative solutions grounded in thorough research and analysis.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Waterproof LED Module Market is witnessing significant growth in the near future.
In 2023, the Low Power 0.3W Below segment accounted for noticeable share of global Waterproof LED Module Market and is projected to experience significant growth in the near future.
The Advertising segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Nichia, EPISTAR and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type | Low Power 0.3W Below, Middle Power 0.3 0.5W, High Power 1W and above |
Application | Advertising, Lighted Wallpaper, Others |
List of Competitors | Nichia, SAMSUNG, EPISTAR, SSC, LG Innotek, Toyoda Gosei, Semileds, Cree, Osram, PHILIPS Lumileds |
This chapter will help you gain GLOBAL Market Analysis of Waterproof LED Module. Further deep in this chapter, you will be able to review Global Waterproof LED Module Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Waterproof LED Module. Further deep in this chapter, you will be able to review North America Waterproof LED Module Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Waterproof LED Module. Further deep in this chapter, you will be able to review Europe Waterproof LED Module Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Waterproof LED Module. Further deep in this chapter, you will be able to review Asia Pacific Waterproof LED Module Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Waterproof LED Module. Further deep in this chapter, you will be able to review South America Waterproof LED Module Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of Waterproof LED Module. Further deep in this chapter, you will be able to review Middle East Waterproof LED Module Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of Waterproof LED Module. Further deep in this chapter, you will be able to review Middle East Waterproof LED Module Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of Waterproof LED Module. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Analysis 2019 -2031, will provide market size split by Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Waterproof LED Module market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 13 Research Methodology and Sources
Why Low Power 0.3W Below have a significant impact on Waterproof LED Module market? |
What are the key factors affecting the Low Power 0.3W Below and Middle Power 0.3 0.5W of Waterproof LED Module Market? |
What is the CAGR/Growth Rate of Advertising during the forecast period? |
By type, which segment accounted for largest share of the global Waterproof LED Module Market? |
Which region is expected to dominate the global Waterproof LED Module Market within the forecast period? |
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