ReportsnReports.com has released its report on the Light Emitting Diode (LED) Lighting Market: Market Shares, Strategy, and Forecasts, Worldwide, 2014 to 2020, which says next generation lighting is achieving a complete replacement of incandescent filament bulbs with LED lighting that is more energy efficient, lasts longer and has a significantly lower cost of operation. LED lighting decreases labour 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. 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. According to the study “Frequent product introductions have characterized the LED lighting industry. There is a highly competitive pricing environment with the current price point of USD 10 in 2013 per light about to decline to USD 6 per light. 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 is anticipated to grow 45% per year through 2019. The LED lighting market at USD 4.8 billion in 2012 is anticipated to go to USD 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. Dutch electronics group Philips has attracted bids from several private equity groups for the majority of its lighting components business, up for sale as it focuses on higher-margin activities.
