The London-based
market research and investment
consultancy Memoori, has released an interesting report that reviews the future
of emerging trends that can expect to change the face of the Light-Emitting Diode (LED) Lighting
industry.
What do they expect is going
to take off like a rocket? OLED, Smart
Lighting & Controls, Low Voltage AC LED, Alternative Substrates and
Phosphor Technology will set the trends.
With, lighting accounting for 19% of
the worldwide electricity consumption and commercial, residential, and
industrial buildings responsible for 49% of the world’s energy consumption,
what will be the next steps for building owners to respond to this growing
energy concern. Studies estimate that by
US building owners cutting the energy used by lighting by 40% would save about
$53 billion in annual energy costs, and reduce total energy demand that is
equivalent to the annual operations of 198 mid-size power stations.
The Memoori Study
also found some other interesting pieces of information:
Their research estimates that the total value of
the global market for lamps and luminaires used in building lighting in 2012
was approximately $54 billion, and project that this overall market will grow
by 3.6% in 2017
Memoori predicts that
the revenue of the global LED market for buildings will rise from $9.46 billion
in 2013 to a total of $25.4 billion by 2017.
And finally, they
project market growth for LED lighting in all regions. Growth in India will be
the highest at approximately 31%, but from a very low base, and penetration
rates there are likely to remain relative low. The rest of Asia (with the
exception of Japan) will experience growth of around 24% due to positive legislation,
new construction, and government incentives.
The report adds that
many global lighting product sectors remain highly fragmented. This is likely
to change over the next few years. Memoori predicts that the continued drive
for improved lighting performance and lower costs should drive continued
vertical integration in the market particularly downstream in the value chain.
The Business of LED Lighting in Buildings 2013
to 2017 report by Memoori does so much to provide important conclusions, supported with
facts, as to what is shaping the future of the LED lighting industry. It is a must read.
For more information
on bringing an LED lighting solution to your facility, please contact us at GET,LLC at 671-483-0789 or see our website at www.get-guam.com for details of the
technologies that can be of significant value to all building owners-All Made
in America!!!