2014-01-09 05:24:03 - World LED Lighting Markets (2013 Update) - a new market research report on companiesandmarkets.com
The key challenges that the LED lighting market face are the prevalence of alternate technologies and high initial investment. Raising awareness amidst residential end users, financing projects, and leasing and maintenance of lighting solutions in the professional lighting market can tackle these challenges and provide untapped opportunities. End users benefit from the savings on their energy bills due to decreasing payback period from using LED products. Infrastructure spending and new construction activities will open doors for new installation of this technology in the professional market. High level of consciousness towards energy efficiency and activity in the outdoor applications will also contribute to market revenue.
The market for light emitting diodes (LEDs) has a high potential in the global general lighting market.
Light management systems and colour control of LED light, which can affect the mood of the end users enabling a purpose-friendly ambience, will shape the market into a new sphere. Leasing and maintenance of lighting solutions and financing projects will help companies overcome reservation regarding the high initial investment that is required from end users. Providing technical know-how to end users, consultation from concept to implementation, and maintenance will be the key capabilities required to complete projects successfully. Strategic involvement in government initiated technical and market projects gives companies better brand visibility and recall among customers, architects, and installers. Standardisation of LED products will be the launch pad to commoditize solid state lighting (SSL) in the mass consumer market (residential segment).
The uptake of SSL in the residential segment is expected to increase during the forecast period, as the payback period from LED products will continue to reduce. Outdoor and architectural applications are dominated by direct sales through tendering processes. The residential segment is dominated by retailers and wholesalers dominate the professional lighting market (office, hospitality, retail, and industrial).
The high growth LED market is driven by government regulations and policies towards energy efficient lighting and declining prices of LED lighting products. The market is expected to grow between 2012 and 2017 due to growth in industrial, outdoor and residential applications. Globally, the price of GU10 60W equivalent LED lamps will decline by % during the forecast period and the trend is likely to be reflected on other LED lighting products as well. Decline in prices of packaged LEDs and their surplus supply in the market have influenced this downward pricing trend.
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