Global LED Lighting Market is Anticipated to Grow 45% per year through 2019
Industry competition & innovation improving your bottom line.
Consumer Market Research Report Published: Friday, 15 August 2014 23:00
Worldwide LED lighting markets are poised to achieve significant growth as buildings and communities lead the way in implementing the more cost efficient systems. In some cases, the utility plants are providing funding and financing so that lighting users can make the shift to LED lighting.
LED lighting decreases labor costs of replacing bulbs in commercial situations. The LED bulbs are implementing new semiconductor technology. The 2013 study has 403 pages, 183 tables and figures.
LED lamps lower the overall cost of lighting. LED lighting costs are less than costs with incandescent lights. LED lamps offer up to 50,000 hours of illumination with a fraction of the energy used by traditional incandescent bulbs. LED bulbs generate 90% less heat than incandescent bulbs. LED bulbs extend time between bulb replacements. The bulbs are used to achieve a near zero-maintenance lighting system.
LED lighting products compete with traditional lighting technologies on the basis of the numerous benefits of LED lighting relative to such technology including greater energy efficiency, longer lifetime, improved durability, increased environmental friendliness, digital controllability, smaller size, directionality and lower heat output.
The emergence of cost-competitive LEDs has caused a "paradigm shift" in the lighting industry that has changed everything. The LED lighting industry rapid technological change has been brought by enormous changes in the regulations affecting lighting. According to Susan Eustis, leader of the team that prepared the study, "Frequent product introductions have characterized the LED lighting industry." [There is a highly competitive pricing environment positively affecting both the residential and commercial consumers.] " These market characteristics increase the need for continuous innovation."
Sales of LEDs that outpace incandescent bulbs in North America are expected to soon completely eliminate incandescent bulbs. The LED lighting market at $4.8 billion in 2012 is anticipated to go to $42 billion by 2019. The reason is the declining price points, the increased interest by the channel in pushing LEDs to consumers. LEDs provide the best lighting solution. The phase out of incandescent lights has begun, the onset of LED command of the market is upon us.
This LED lighting shipment analysis is based on consideration of the metrics for the total number of lights shipped with a likely penetration analysis. Interviews with distributors, vendors, and users provide means for triangulation of data to achieve an accurate look at the market. Interviews include contact with distributors and analysts worldwide.
Excerpts from Consumer Market Research Reports: WhaTech Channel
Published: Friday, 15 August 2014 23:00
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