World Lamps & LED Lighting Market to Grow 12.3% Annually to 2016 Reveals

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LED lighting devices to record fastest global market gains to 2016 says new report.

Report Buyer

According to the new report 'World Lighting: Lamps & LEDs' demand for global lamp and LED lighting is to grow 12.3% yearly to 2016 to $78.3 billion. According to gains will be boosted by an ongoing shift to higher value lighting technologies that are more efficient, particularly as many countries phase out general use incandescent lamps. The rising availability of light-emitting diodes (LEDs) and other high efficiency light sources at more affordable prices, along with improved light quality, will further propel this shift. According to the report World Lighting: Lamps & LEDs: Forecasts for 2016 & 2021 in 22 countries product sales will also be driven in part by an acceleration in factors such as personal income, economic activity, global motor vehicle output, and construction spending.

LED (or solid-state) devices will record by far the fastest global lighting market gains of any major product segment through 2016. Historically, demand for LEDs used in lighting applications has been restrained by both high product prices and technical deficiencies in the quality and diffusion of light. However, the rapid rate of technological advances is dramatically improving their performance capabilities and resulting in substantial reductions in cost, leading to LED use in a growing number of lighting applications.

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