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How Today’s World Glows with the Help of the LED Lighting Market

Blog Description

The global LED lighting market, which was valued at US$4.8 billion in 2012, will grow to almost ten times that size by 2019 to be worth US$42 billion. With a 45% growth expected per year, the market could easily conquer 100% of the lighting solutions in the world.

The global LED lighting market brings the latest lighting solutions for most locations and organizations. In comparison to conventional halogen and incandescent lightings, the relatively new LED lights are far superior in terms of brightness, duration of use, and energy-saving capabilities.

Almost all new households in developed and even most developing regions are supplied with LED lighting by default, unless specified otherwise. On the same page, Ikea, the biggest furniture chain in the world, has announced that it will replace all of their lighting solutions on sale with LED lightings. They shall no longer sell halogen lights and CFLs; they all will be replaced by LED technology, which the retailer mentioned has reached its tipping point. The global LED lighting market is making strides even in emerging economies, which lack the scale of implementation seen in developed countries but are still not so far behind. In India, for example, the Bombay Municipal Corporation has authorized the use of yellow LED lightings on Mumbai’s Marine Drive.

Large Number of Players in Global Market Leading to Rapid Development

While the list of all players in the global LED lighting market is substantially large, the key players in the market are Cree, Lighting Science Group, Mitsubishi/Verbatim, QD Vision, Solid State Lighting Systems, Maxion Technologies, Toshiba, GE Lighting Solutions, Osram, and Philips. Other players include Acuity Brands Lighting, NaturaLED, C.V, Epistar, Everlight, GE, IEE, Siemens, Newport Corporation / ILX, iWatt, Larson, LED Microsensor, Lightkiwi, LLC, Litecontrol, Verbatim, Lightwave, Nichia, Soraa, TCP, Prolighting TCP, Sony, Thorlabs Acquires / Maxion Technologies, and Toyoda Gosei.

Browse the full Press Release of LED Lighting Market :

The Definitive Superiority of LED Lightings

We know that the world is switching to LED to take care of its lighting. Below are the reasons why:

  • Labor Cost : the global LED lighting market will considerably reduce labor costs in terms of replacing bulbs in commercial scenarios. LED bulbs implement semiconductor technology and are essentially zero-maintenance lighting solutions.
  • Energy savings : the overall cost of energy required to illuminate LED bulbs is a lot less than the amount taken for CFLs or halogen bulbs. They deliver nearly 50,000 hours of illumination at a fragment of the price required by its predecessors. They also generate 90% less heat than incandescent bulbs.
  • Energy Ratings : LED PAR bulbs from most manufacturers have consistently dominated the ENERGY STAR qualification.
  • Environmental Concerns : the tungsten filament used in incandescent bulbs is a rare earth metal and needs to be mined from the earth. Use of LED bulbs, which contain no rare elements that could potentially damage the earth, will allow the rate of tungsten mining to reduce, causing a reduction in the effect of lighting solutions on the environment.

The global LED lighting market is in need of constant innovation. With current lighting solutions dropping in price due the heavier implementations of LED lamps, market competitors are tied in a race to create the best of the best in order to attract customers towards their products.