(PRWEB UK) 8 May 2013
The lighting industry is a large, global and yet fragmented market place. The fragmentation is driven both by technology differentiation and customer need diversity. The technologies vying for market share include incandescent lamp, compact fluorescent lamp (CFL), halogen lamp, light-emitting diodes (LEDs) and, most recently, organic light emitting diodes (OLED). The target markets are also very diverse, each service different needs and demanding different price points. These markets include residential, architectural, hospitality, shop, industrial, office, and outdoor.
OLED and LED lighting are both solid-state technologies and offer overlapping value propositions per market segment. They will therefore compete directly in many instances. LED lighting has come a long way and offers a better performance than OLEDs, and that at a lower cost. OLED lighting will therefore only gain market success if it clearly defines its unique selling points and carves out initial market niches.
The report 'OLED vs LED Lighting 2013-2023' forecasts that the market will grow to 1.3 billion USD in 2023 and initially grow at a rapid rate of 40-50% annually, although the initial market base is very small. The report contextualises its assessment by expressing market forecast in units of equivalent 60W incandescent bulbs.