Integrated Solutions Providers Gain Competitive Edge
Worldwide revenues in LED markets will quadruple to more than $36.5 billion by 2017, according to updated research by Frost & Sullivan, World LED Lighting Markets (2013 Update).
The market earned revenues of $9.18 billion in 2012 and estimates reach up to $36.52 billion in 2017. The residential and outdoor application segments, in particular, will witness rapid growth.
Reductions in energy consumption and greenhouse gas (GHG) emissions in lighting, which accounts for 15 percent of global energy usage and 5 percent of GHG emissions, are driving the light emitting diode (LED) market.
Market participants are offering integrated solutions that include consultation from concept to implementation along with maintenance services. Reduction in the prices of LED lamps too will boost global sale volumes.
However, the global LED lighting market has not reached its full potential as the phasing out of incandescent and compact fluorescent lamps (CFL) is still in progress.
While the recession-proof replacement market continues to grow, the dip in construction activities owing to the recent economic slowdown is affecting new installations. As a result, the global LED lighting market is expected to witness increasing consolidation with more mergers and acquisitions taking place to strengthen market presence and enhance brand visibility.
- What You Need to Know About Demand Charges
- Guide to Energy, Carbon and Environmental Software
- Choosing the Right LED Product for Industrial Lighting Applications
- 2014 Energy and Sustainability Predictions: Findings from Leading Professionals
- 2014 Environmental Leader Product and Project Awards
- The Top 5 Things You Should Know about Big Energy Data
- How "Fixed" is the Fixed Price Product?
- Alarms Management: The Future is Now
- Getting It Right: Evaluating, Deploying EMIS Software
- The Business Case for Corporate Sustainability Tools
- Driving Productivity and Profit with Industrial Energy Management
- Energy Procurement in 2014: Products & Programs to Optimize Savings
- BUYING STRATEGIES IN A VOLATILE MARKET: What Businesses Need to Know about Retail Electricity Procurement
- Smart Building Technology: The Key to Comprehensive Building Performance
- What Energy Managers Need to know about Procuring Natural Gas: Guidance for 2014 Natural Gas Contracts