21 Apr '17, 11am

#LEDs rising from 60% of overall lighting market in 2016 then 80% in 2020 and 98% by 2025

LEDs rising from 60% of overall lighting market in 2016 then 80% in 2020 and 98% by 2025 The LED lighting market grew 18.1% to $47,303m in 2016, accounting for almost 60% of global lighting, according to the report ‘Global LED Lighting Market (2017 Update)’, part of Frost & Sullivan’s Homes & Buildings Growth Partnership Service program. By 2020, LED lighting is likely to account for 80% of the total lighting market (creating an $80bn market), rising to 98% by 2025. The residential LED lighting market in particular will see grow 16.7% year-on-year in 2017. However, although the residential, outdoor and retail sectors make the highest contributions at present, office, industrial and hospitality are expected to be future growth sectors. LED market evolution continues with a steep decline in cost per unit, high energy-efficiency ratings, a market shift toward these lighting s...

Full article: http://www.semiconductor-today.com/news_items/2017/apr/fr...

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