5% of lamps sold to retrofit projects worldwide will be LED-based, expecting this figure to increase to 40% by 2017 and 63% by 2021.
(PRWEB UK) 4 September 2013
It has been reported in Buildings, that a report from Navigant Research, a market research organisation focusing on global clean technology, has predicted LED lighting products to grow from $2.7billion in 2013 to more than $25billion in 2021. The report explains that 5% of lamps sold to retrofit projects worldwide will be LED-based, expecting this figure to increase to 40% by 2017 and 63% by 2021. Research Analyst at Navigant Research, Jesse Foote, claims that “the rise of LED technology will transform every part of the commercial lighting industry.”
Known for their extensive range of lighting products, including energy efficient GU10 LED bulbs, Visible Lighting closely pursue the direction of the industry. A representative shares their thoughts on the estimated growth of LED adoption.
“Since LEDs were first introduced, energy efficiency has increased significantly, as has the brightness of the light emitted. Whilst the quality of LED light has improved, the costs have fallen and this looks set to continue. Consumers who invest in LED lighting for the home can now look forward to considerable savings on their energy lights as well as more versatile lighting. We look forward to reviewing the accuracy of these predictions in the future.”
The team at LED Strip Lights co. are committed to sourcing the latest industry updates and developments.
LED Strip Lights co. is a leading LED company based in the UK. With a rapidly expanding collection of lights, the company provides both domestic and commercial LED lighting solutions, including LED transformers and drivers and LED strip light controllers. Using the latest LED technology, customers can make significant energy savings.