The LED lighting market will reach $ 25 billion in 2023
Thanks to superior performance and constantly costs decline, LED lighting market including outdoor LED flood light and other commercial and industrial and household LED light will grow 12 -fold over the next decade, the annual compound growth rate is 25 %，the current market of outdoor LED flood light and other commercial and industrial and household LED light will rise from $ 2 billion to $ 25 billion in 2023.
The Lux Research company predicts that embedded modules of outdoor LED flood light and other commercial and industrial LED light become the largest LED lighting market, the market will grow from 1.5 billion in 2013to $ 14.5 billion in 2023 .
” With the sharp decline in the cost of LED packaging, and light efficiency would be enhanced, and therefore the amount of the cost structure of the outdoor LED flood light and other commercial and industrial LED lamps has been a change, but also bring market opportunities to other devices such as secondary optics and drive .” christopher Hwang of Lux Research company said ” this trend also affects the rate of adoption of embedded modules, outdoor LED flood light high bay lights and street lamps and other commercial and industrial LED light in new technologies, such as AC LED and high CRI LED”.
Lux Research analysts expect efficiency will reduce the LED packaging costs, due to the efficiency, yield enhancement and high-volume use, the packaging costs of outdoor LED flood light and other commercial and industrial LED light will drop 80 percent, falling to $ 4 / thousand lumens. Therefore, the cost of materials to the standard for embedded modules 3500lm outdoor LED flood light and other commercial and industrial LED lamp will drop 35 percent in 2023, falling to $ 55 from $ 85 in 2013 .
AC LED lighting will become cost-competitive products in 2018, but its advantage is still only in the low-power applications, such as outdoor LED flood light and other commercial and industrial embedded modules lamps. In contrast, high CRI lighting products will continue to be special, to 2023 costs are still high 9%.
Optical products have a huge market opportunity. Secondary optics market will reach $ 6.9 billion in 2023, the drive of outdoor LED flood light and other commercial and industrial and household LED lighting market will $ 4.9 billion.Browsing http://www.lead-lighting.com/products/sid53-1.htm for more information about outdoor LED flood light.
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