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Solid-State Lighting Market to Grow by 21 Percent While Residential Demand Remains in Infancy
The Strategy Analytics GaAs and Compound Semiconductor Technologies (GaAs) service release, "Solid State Lighting Market 2006-2011," projects 21 percent market growth for solid-state LED lighting through 2011. The bulk of demand, however, will be generated from niche lighting applications…
Published by LED professional ·
Strategy Analytics forecasts that the global lighting market will increase at a compound annual average growth rate (CAAGR) of 4 percent through 2011, with solid-state lighting technologies penetrating no more 3 percent of the total market in 2011. Strategy Analytics does not expect significant implementation in residential and consumer markets to occur until 2014 or 2015.
"Environmental concerns are making an impression on consumers who are beginning to look for environmentally beneficial lighting products. They will buy only when products reach the right price point," notes Stephen Entwistle, VP of the Strategy Analytics Strategic Technologies Practice. "The long and slow adoption of energy-saving compact fluorescent (CFL) light-bulbs must be acknowledged when making optimistic forecasts for the solid-state lighting market."
"In addition to the commercial challenges, there are also technical challenges that need to be overcome. One such obstacle is the ability to guarantee consistent quality of the white light over the life of the lamp." observes Asif Anwar, Director of the GaAs service. "In the near term, emerging demand from other markets, such as automotive, aviation and medical, will help spur development in the general illumination market."
