LED Market to Continue to Shine through 2013, NextGen Research Forecasts
Oyster Bay, NY -- NextGen Research, in its new report “LEDs and Laser Diodes: Solid State Lighting Applications, Technologies, and Market Opportunities” (http://www.nextgenresearch.com/research/1001995-LEDs_and_Laser_Diodes), forecasts the overall solid-state lighting (SSL) market will achieve worldwide revenues topping $33 billion by 2013.
The illumination segment of the LED market will light the way with a compound annual growth rate (CAGR) of nearly 22% in the 2009-2013 timeframe.
A number of factors support the adoption of LEDs as replacements for other varieties of lighting, including the growing environmental/”green” movement; the need to reduce power consumption, particularly in light of utility capacity limitations, and the always-growing need for more durable, longer-lasting and more efficient lighting technologies.
Research analyst Laura DiDio advises LED vendors to work with legislators and industry groups to foster a smooth, orderly transition from incandescents to more efficient LEDs, particularly since solid-state lighting requires different fixtures than incandescents or fluorescents/compact fluorescents.
“Vendors also must provide specific product roadmaps to assist users with business continuity planning, and provide excellent after-market technical support and guidance during the transition.”
Light-Emitting Diodes (LEDs) are semiconductor devices that convert electricity to light, providing greater illumination per watt than incandescent bulbs do, while containing none of the poisonous substances (like mercury) that compact fluorescents do. LEDs can have a useful life of 30,000 to 50,000 hours, which can mean as much as 10 to 20 years between replacements.
LEDs have a broad range of uses, including backlighting, displays, indicator and status lights and digital signage, but lighting applications comprise the largest single sector to date. In addition to indoor lamps and lighting fixtures, LEDs are being used for street lighting and traffic signals because they consume less power than other types of lighting and they don’t burn out (they slowly dim over time), so they need replacement and maintenance far less frequently by costly repair crews. Municipalities save on energy and labor costs as a result.
NextGen Research is the emerging technology arm of ABI Research (www.ABIResearch.com). NextGen Research informs clients of the outlook for applications currently in use and the opportunities presented by new technologies, so they can make sound business decisions. For more information, please visit www.NextGenResearch.com, or call +1.516.624.2526.
Larry Fisher (516) 624-2526