LED Lighting Industry Survey Promises Strong Growth
March 5, 2008
Cree has announced the results of an independent survey performed at the 2007 Hong Kong International Lighting Fair on the adoption, deployment and benefits of LED lighting. The survey validates strong global growth for LED lighting applications, confirms awareness of the energy-efficiency benefits of LEDs and indicates that the adoption trend should continue through the end of the decade.
Key survey findings include the following:
* Nearly three-quarters (72%) of respondents have witnessed a growth rate in excess of 20% for LED lighting applications in their businesses over the past six months.
* Almost two-thirds of respondents (63%) believe LED lighting will comprise more than 50% of their sales or installations by 2009.
* Future growth in the LED lighting market is expected to come from a mix of applications - with street/parking (20%), residential indoor (17%), retail/display (17%) and office (15%) cited as the leading opportunities.
Survey respondents represent top decision-makers at lighting manufacturers who attended the Lighting Fair - the largest lighting show in Asia and the second largest in the world. Nearly half the respondents to this survey were from outside of Asia, reflecting the survey's global reach.