AUSTIN, Texas--()--The global lighting market is currently going through tremendous changes. Increased efficiency standards, a growing concern with energy efficiency and breakthroughs in the LED sector are all affecting a previously slow moving market that was extremely difficult for new entrants to penetrate.
“Growth is stemming from advancements in LEDs which are increasing their efficiency, while decreasing their overall price. Currently, LEDs make up 10% of the total lighting market ($US), but by 2015, this is expected to increase to 46%.”
According to the latest analysis from IMS Research, in 2010 the world lighting market was worth $83 billion, with lamps making up 24% of the total. By 2015, the market will be valued at $115 billion, with lamps making up 33%.
IMS Research Lighting Market Analyst, Philip Smallwood states that “Growth is stemming from advancements in LEDs which are increasing their efficiency, while decreasing their overall price. Currently, LEDs make up 10% of the total lighting market ($US), but by 2015, this is expected to increase to 46%.”
China is poised to show tremendous growth in this market. In 2010, 14% of the lighting market ($US) belonged to China; by 2015 it is estimated that this will increase to 20%. Continued economic growth, a construction boom, concerns with increased electricity consumption and increased purchasing power will all have an impact on the market in this region.
Innovations in LED technologies have opened the door for emerging suppliers to enter the lamp and luminaire markets. This is creating a race where early market entrants are expecting to see big gains.
About the current World Market for Lamps & Luminaires in General & Exterior Lighting Report
The report provides trends, revenue, unit shipments and ASP analysis of 5 lamp and luminaire technologies in seven regions. Analysis on the world installed base for lamps and luminaires, including a forecast through 2015, is broken down by region, technology and nine applications.
About IMS Research
IMS Research (www.imsresearch.com) is a supplier of market research and consultancy services on a wide range of global electronics markets. The company headquarters is in Wellingborough, UK with offices in Austin, Texas; Seoul, South Korea; Taipei, Taiwan and Shanghai, China. IMS Research regularly publishes detailed research on the Lighting and LED markets, among others.