According to a new report from Strategies Unlimited, the LED lighting market will grow at almost 37% over the next few years. High-brightness LEDs have proven dramatic improvements in performance in recent years, as well as significant cost reduction. As a result, LEDs are undergoing a period of rapid market growth in a variety of lighting applications.
According to market research firm Strategies Unlimited, in 2005 the total market for high-brightness LEDs used in lighting applications was $205 million.
By 2011, the total market for LEDs in lighting is forecast to grow at a CAGR of 36.9% to reach approximately $1 billion.
The largest lighting application for LEDs is architectural lighting, followed by channel letter/contour lighting and consumer portable.
A recently released report by Strategies Unlimited entitled The Market for High-Brightness LEDs in Lighting: Application Analysis and Forecast ?C2007 provides a detailed market 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 the HB LED industry to penetrate the illumination market, as well as the barriers to market growth. It also provides detailed analysis and quantitative market forecasts through 2011 for ten lighting applications:
Channel Letters and Contour Lighting, Architectural, Consumer Portable, Retail Display, Safety and Security, Residential, Machine Vision, Outdoor Area, Off-Grid and Entertainment.
This report includes a 5-year market forecast for revenue, units, and ASP. The data is also broken out by material type (InGaN, InGaAlP, multi chip), and by package type for each lighting application.
Also included in the report is an overview of the structure of the lighting industry, market factors and product market data.