In a new report, Strategies Unlimited say the 2007 market for HB LEDs used in lighting applications reached $337M, up from $205M in 2006. High-brightness LEDs’ performance has improved substantially in recent years, as cost has simultaneously come down — just the right combination of factors to fuel rapid market growth in a variety of niche and general lighting applications.
The report, entitled “The Market for High-Brightness LEDs in Lighting: Application Analysis and Forecast – 2008”, provides a detailed assessment of the current market and future growth prospects for the use of HB LEDs in lighting.
The report analyzes the market structure for lighting and the drivers that will enable HB LED technology to penetrate the lighting market, as well as the barriers to market growth. It also provides detailed analysis and quantitative market forecasts for 12 LED lighting applications through 2012.
In 2007 the worldwide market for HB LEDs used in lighting applications reached $337 million, up from $205 million in 2006, the report says..
It will be only the beginning for the ultimate replacement of conventional light sources, including high-efficiency fluorescent and HID lamps. However, many challenges face the LED industry to accomplish that goal, all of which are discussed in the report.