Cree survey at Light+Building indicates expected rapid LED adoption for lighting
Half of Decision-Makers Polled at Leading Industry Trade Show Expect LEDs to Represent More Than 50 Percent of Their Lighting Sales by 2009
FRANKFURT, Germany, April 26 -- Cree, Inc. (Nasdaq: CREE - News), a market leader in LED solid-state lighting components, today announced the results of a new survey on the adoption, deployment and overall benefits of LED lighting.
Conducted for Cree this week at Light+Building 2006 in Frankfurt, Germany, the industry's most prominent biennial trade show, the survey revealed extraordinary optimism among lighting industry executives, architects, designers, engineers and other decision-makers regarding the growth of the LED lighting market.
Out of 123 trade show participants polled, 50 percent of respondents stated they have seen a 20 percent to 60 percent growth rate for LED lighting applications in their businesses over just the past six months.
Looking forward, 50 percent of those polled stated their belief that LED lighting will represent more than half of their sales or installations by 2009.
Furthermore, 61 percent of respondents believe LED lighting will replace fluorescent lighting in office and commercial spaces within five years.
The results indicate an increasingly pervasive acceptance and awareness of the benefits of LED lighting, which include energy savings, long life, high quality of light and the ability to use LED lights in innovative and inspiring new light fixtures and applications.
"The results of this survey reflect what we have been hearing from our customers, both at Light+Building 2006 and in general," said Mark McClear, Cree director of marketing for lighting LEDs.
"We believe results showing the expected transition to LED lighting over the next few years validate the benefits offered by LEDs and confirm Cree's belief that the lighting market is on the verge of a major shift. The brightness and efficiency offered by Cree's XLamp® LEDS are helping to position Cree to lead this transition."
This survey of 123 attendees of the Light+Building trade show in Frankfurt, Germany, was conducted on behalf of Cree, Inc. by Mindwave Research, Inc. on April 24-25, 2006. Contact Cree for detailed survey results or more information concerning the survey methodology.
Deb Lovig (919) 287-7505