LEDs set to dominate global market

Category: Lighting
LEDs set to dominate global market

LED technology is maturing. With improved performance available at diminishing costs, the argument for embedding more energy efficient light has never been stronger.

Recent research from analysts Frost & Sullivan hints that affordability and quality will make LEDs the major player in sustainable light by 2020.

The numbers reveal the world’s LED lighting market grew 35 per cent last year, and will more than double by 2019. LEDs as a proportion of the total lighting market will hit 50 per cent by the end of 2015, reaching 84 per cent by 2020.

At Greenlite, we’re delighted by the news, which confirms a view we’ve long held; LED lighting is the future. The signals are tremendous for both businesses and the environment. The trends prove the wider LED sector is growing in scale; this makes LEDs highly attractive to investors.

Investment, in turn, means the money available to deploy and improve LED technology will grow exponentially. Thus, for UK businesses tasked with streamlining energy efficiency, LEDs will become a more effective and affordable tool to hit efficiency goals over the coming decade.

The upshot is; LEDs are becoming increasingly sustainable, ever more quickly, at a lower cost. It’s an ideal green business scenario.

LEDS are now the money saving technology of choice

Commentators regularly point out that lighting is already among the fastest, easiest wins in the energy saving arena.

‘Lighting costs are often a big part of your energy bill as a business and therefore you need to try and make some changes to achieve worthwhile energy savings.’ writes Click Green.

‘Low-energy lights are able to offer significant cost savings when compared to the cost of running regular lighting, especially if the lights are on for a long time each day.’

The reported disruptive expansion in the commercial LED lighting market will only make these benefits more tangible as time passes.

A reminder; the key advantages of LED light

For businesses seeking to embed energy efficiency, we believe these key gamebreakers make LEDs such an attractive proposition:

  1. LEDs are coming down in price, faster now than ever before
  2. LED technology is advancing so quickly they now perform better than traditional sources
  3. LEDs offer dramatic reduction in energy bills; and are perfectly suited to smart lighting systems
  4. LEDs have long lifespans; this delivers vastly reduced needs for replacement and maintenance

And remember, all of these advantages are becoming more attractive, as the racing LED market delivers more competitive products at more enticing prices.

LEDs are close to our heart at Greenlite; they are a key part of our business. But there is genuine reason for us to shout about their ascending star.

LEDs can rapidly put your business on the path to sustainable energy efficient lighting, with minimal upfront cost and rapid ROI. What’s new is the definitive clarity that LED technology is a market winner now and into the future.

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