The revolution in lighting with LED technology

The revolution in lighting with LED technology


The market for luminaires will exceed 110 billion by 2020. and is comparable in size to that of televisions and home computers. Population growth and the ongoing urban tension increase international lighting demand. At the same time, the continuing reduction of "raw materials" worldwide and climate change are raising concerns about the future of the planet. Governments around the world introduce legislation to increase energy efficiency and/or eliminate energy-intensive products and the lighting industry responds by investing enormous amounts of money in the development of more efficient technologies.
The discovery of LEDs revolutionizes the lighting market and transforms the industry. Although LEDs are still an expensive technology, the huge industry investment reduces its price by 30% per year, resulting in rapid entry into all applications. Industry experts say that by 2020, the market for LED lights will exceed 65 billion euros, equivalent to 65% of the total lighting market. Other estimates raise this figure to as much as 90% of the market.
This development creates new dynamics and upgrades in the traditional lighting industry. New "players" from the field of semiconductors and electrical and electronic devices enter the market, but many new businesses are also paving the way for action. The key to success in the new environment is to focus on what makes LED unique, ie the technology that enables new applications with the new design. Success in the field, therefore, necessitates appropriate partnerships with other industries to create new applications and new aesthetic trends.
Retrofit accounts for 21% of the total LED turnover, while the lion's share is occupied by lighting fixtures (79%) with this technology. The LED lighting area is expected to be the most attractive market segment in the years to come. 

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