A report released last month estimated that the LED lighting market will grow by 45% per year until 2019 and increase in value from the current $4.8bn to $42bn.
These conclusions were reached through analysis of LED lighting shipments and interviews with distributors, vendors, users and analysts. Cheaper products, increased consumer effort and quality of the products were cited as growth drivers.
The competitive pricing environment for the LED market was also highlighted, with a significant price drop anticipated. As a lighting controls specialist that delivers energy-efficient turn-key solutions, BG Energy Solutions is pleased to see this growth of interest in LED lighting because of its cost-saving and environmental benefits.
Duncan Biggins, Managing Director of BG Energy Solutions, says: “LED lighting reduces energy use and can form a vital part of running cost-effective building premises that meet environmental legislation.”
He adds: “Our lighting controls expertise has demonstrated, however, that LED solutions can only be truly efficient when combined with effective controls. As interest in LED continues to grow, businesses should also explore intelligent building management systems to access the highest possible savings in energy, costs and carbon emissions.”