February 23, 2011—Growth rates among applications vary, but the global market for LED luminaires is expected to grow to $8.3 billion by 2014, according to Strategies Unlimited, a market research and strategic consulting firm.
Rapid improvements in performance and price of commercially available high brightness LED packages, heightened awareness about energy efficiency, phasing out of incandescent bulbs, and fiscal stimulus undertaken by countries around the world, created conditions for adoption of white light application of LED technology, which otherwise would have faced the low-volume-high-cost conundrum.
Quality issues that affected the market penetration of previous energy efficient lighting technologies continue to affect this market but the resolve to reduce energy consumption is likely to propel this technology to be widely commercialized and adopted by the market. LED Luminaires, Market Analysis & Forecast contains nine LED lighting application segments and analysis for the period from 2008 to 2014.
Global revenues for LED luminaires in commercial/industrial applications are expected to be more than $1 billion in 2011. The outdoor area lighting applications, which benefitted from fiscal stimulus and the need for energy conservation, are expected to grow at a CAGR of 38 percent through 2014.
Strategies Unlimited, which specializes in market research and strategic consulting directed at photonics systems and components, is a research unit of PennWell Corporation, a global media and information company.
For more information, see the Strategies Unlimited Web site.
