LED lighting set to illuminate more
Despite cost being a barrier to its widespread adoption, that picture is soon to change.
NPD DisplaySearch said that expansion in manufacturing capacities, dropping prices, a move towards more environmentally friendly lighting and government incentives will boost LED futures.
So much so, that LEDs are likely to represent a quarter of the global market by 2016. Demand is rising across the spectrum including light bulbs, fluorescent tubes, street lights, spot lights will mean that its share of the overall market will rise to 26 percent by 2016 while it only represented five percent in 2012.
The biggest growth will be in LED tube that replace fluorescent tubes used commercially, street lights, and LED luminaries.
From a country perspective, Japan an China will show greatest growth, although North America and Europe will also show gains in the next three years.
Oversupply of LED chip makers means dramatic price drops – good for the end customer but meaning smaller profits for the manufacturers.