Business Loves LED Lighting; Consumers are Catching Up

Wherever you go these days, you see businesses switching their lighting systems from old-fashioned incandescent or harsh fluorescent to bright and shiny new LEDs. The local supermarket, the office where you work, the train station, restaurant or department store—all of these businesses are seeing the benefits of this rapidly developing technology. The light produced by LED bulbs is brighter and warmer and more focused than ever before, and business owners love the savings to their energy bills. But what about consumers?

LED-GE-grocery-commercial-application-G4Report

Businesses, especially retail, are moving to LED lighting. In Japan, market penetration is over 50 percent and expected to hit 90 percent. Consumers are slower to embrace the technology, balking at the high cost of a bulb. But that is changing.

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Quarter of All Lighting Will be LED

By: Christine Persaud

According to the latest report by NPD DisplaySearch, a quarter of all global lighting will be LED-based by 2016, as the technology continues its rapid rise in manufacturing, and prices fall.

The growth can be attributed to consumers and businesses making the switch due to environmental concerns, as well as government incentives.

273_898a57735dfb6f1323cc13ec8b65f8daf8209af6The new opportunity for LED lighting applications will double the market, from 16 million units in 2012 to a forecasted 33 million in 2013, and will nearly triple by 2016. Continue reading