LED lighting market will be worth US$ 63 billion by 2020: Radiant Insights, Inc


Source: BIZ LED

LED lighting market is projected to grow over 45% per year by 2020. The market was estimated at $13 billion in 2014 and is likely to cross over $63 billion by 2020. Next generation lighting attains a complete substitute of luminous filament bulbs with LED lighting that lasts longer and is more efficient. These lightings also have low cost of operation significantly. Philips is the market leader for LED lights and it mainly focuses on higher margin activities. General competitive stress has severely impacted the overall industry; as a result the price declining is majorly because of economic scale.

LED lighting market will be worth US$ 63 billion by 2020: Radiant Insights, Inc

Samsung, Philips and OSRAm have been exploring GaN on silicon technology, Although, Epistar is working on 200mm technology. New market players are benefited by entry points provided by continuous market shifts. They also build considerable opportunities for industry participants to achieve rapid augmentation in market share. Market is anticipated to experience shifts in market share as retailers move up the value chain to provide returns on investments.

Vendors seek control in their margins as there they are offering more pieces of LED light in the market. Based on product performance, Vendors compete with other providers of LED lighting. This is mainly measured by reliability, efficacy, augmented lumen output and light quality. Price of product associated with acceptable level of quality is the major competitive issue in the LED lighting market. LED vendors seek to present LED lighting products that holds superior product quality and that attains lower cost of ownership.

Source: Radiant Insights Inc