High-brightness LEDs have shown dramatic improvements in performance in recent years, as well as significant cost reduction, such that they are undergoing a period of rapid market growth in a variety of niche and general lighting applications, says a new report by market research firm Strategies Unlimited.
The report, entitled “The Market for High-Brightness LEDs in Lighting: Application Analysis and Forecast – 2008,” provides a detailed assessment of the current market and future growth prospects for the use of HB LEDs in lighting.
The report analyzes the market structure for lighting and the drivers that will enable HB LED technology to penetrate the lighting market, as well as the barriers to market growth. It also provides detailed analysis and quantitative market forecasts for 12 LED lighting applications through 2012.
In 2007 the worldwide market for HB LEDs used in lighting applications reached $337 million, up from $205 million in 2006, the report says. The majority of lighting applications used RGB LEDs in markets such as architectural lighting, channel letter signs, accent and decorative lighting, and entertainment lighting.
White LEDs accounted for 48% of the market, and this percentage will grow in selected applications such as consumer portable lighting (e.g. flashlights, headlamps) and machine vision, the report says. White LEDs have recently begun to be used on a limited basis in applications such as retail display lighting, commercial and industrial lighting, and outdoor area lighting.
As the LED lighting market grows beyond single color and color-changing applications into general illumination applications such as residential, commercial and off-grid applications, and ultimately into outdoor area applications, it is forecast to reach $1.65 billion in 2012.
By then it will be only be the beginning for the ultimate replacement of conventional light sources, including high-efficiency fluorescent and HID lamps. However, many challenges face the LED industry to accomplish that goal, all of which are discussed in the report.
The report is available for immediate delivery from Strategies Unlimited at a price of $5,450.
