31 Jan '14, 12am

[Business Green] Research: Global LED market to grow 12-fold in a decade

The global market for ultra-efficient light emitting diode (LED) technologies will reach $25bn by 2023, expanding 12-fold over the course of the next decade. That is the eye-catching prediction from a new report from Lux Research , which predicts that the market will deliver a compound annual growth rate of 25 per cent over the next 10 years. FURTHER READING IKEA reveals demand for LEDs has reached tipping point Philips promises to halve commercial lighting energy use with new LED tube Demand for LEDs has increased significantly in recent years, with Lux calculating that the market is now worth around $2bn a year. Supporters of the technology maintain that it can cut energy use by up to 80 per cent compared to traditional lighting technologies, making it ideally suited for a wide range of applications including office lighting, industrial lighting, and street lighting. To ...

Full article: http://www.businessgreen.com/bg/news/2326110/research-glo...

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