LED lighting market to boom by 21%
The market for solid-state LED lighting will leap by 21 per cent by 2011, according to market watcher Strategy Analytics. But the use of LED lighting in the home will be slower than first expected.
According to a report entitled : “Solid State Lighting Market 2006-2011”, the bulk of demand, will not be from residential lighting but rather will be generated from niche lighting applications including architectural, task lighting, medical and off-grid lighting.
Strategy Analytics forecasts that the global lighting market will increase at a compound annual average growth rate (CAAGR) of 4 per cent through 2011, with solid-state lighting technologies penetrating no more 3 per cent of the total market in 2011.
The researcher does not expect significant implementation in residential and consumer markets to occur until 2014 or 2015.
“Environmental concerns are making an impression on consumers who are beginning to look for environmentally beneficial lighting products. They will buy only when products reach the right price point,” said Stephen Entwistle, v-p of the Strategy Analytics strategic technologies practice.
“The long and slow adoption of energy-saving compact fluorescent (CFL) light-bulbs must be acknowledged when making optimistic forecasts for the solid-state lighting market,” he added.