Rapid developments in LED lighting technologies are changing the dynamics of the global lighting industry. Brighter, more efficient and durable solid-state lighting is having a positive influence across a diverse range of sectors and industries.
Benefits are evident in the commercial, retail and public sectors and LEDs are now starting to gain real strongholds in the consumer market. We recently discovered an article that gives an excellent overview of the state of the LED lighting industry from several thoughtful leaders in the marketplace.
Since our inception in 2009 we have been keeping a close eye on the developments of LED lighting and we are strong believers in the power the technology holds to have a lasting, positive impact on the environment.
As such, we thought it relevant to highlight some of the key quotes of the ECN article which stood out to us…
“The latest (LED) products go beyond viewing light as only a source and point toward a world where LED lighting can enable a new-age digital building infrastructure.” – Mike Watson, vice president of product strategy, Cree, Inc.
“LEDs are inherently energy efficient and even if prices weren’t decreasing, it would still be a worthwhile investment because of the payback and operational efficiencies. But by adding lighting control into the mix, it allows for a whole new level of energy efficiency gains.” – Danny Yu, CEO, Daintree Networks.
“The LED market outlook is solid and supported by two key sector drivers. While decreases in prices and increases in efficiency are driving consumer uptake in lighting, there are increases in LED backlighting chips for small and medium-sized panels. This creates a dual-market position for LEDs: one in lighting and one in panel backlighting.” – Todd Traylor, NF Smith & Associates, Vice President of Global Trading, Smith & Associates.
“Advances in the production of LEDs are changing supply-demand curves. While most people think primarily of bulb production when considering LED prices, improvements elsewhere in the package are resulting in better product performance and decreased costs. More efficient thermal management, the use of less-expensive, non-sapphire substrates (primarily silicon), and the development of stable AC and dimmable drivers are some of the major developments in next-generation LED design… Whatever the future holds, it is going to be a bright one for LED applications.” – Sagar Jethani, Head of Content, element14.
“From a technologist’s point of view, adoption of a new technology is normally assumed to be virtually assured if it allows the end user to purchase more value for less cost. LED lighting products for many applications have crossed the threshold in terms of cost of ownership relative to incumbent lighting technologies. In order for adoption of LED technology to expand, the initial product cost will need to continue to decrease as production volumes rise and supply chains are optimized. One of the primary ways to reduce product costs as volumes increase is to decrease the number of components in LED lighting systems and streamline production. This will push the system-level architectures toward more integrated solutions.” – David Jenkins, Sr. Manager R&D – Illumination Optics, Optical Solutions Group at Synopsys.
At present LED accounts for 18% of the global lighting market (valued at $66 billion). According to industry data cited by GE Lighting, this share is forecast to reach 70% by 2020 – representing $100 billion.
With such exciting technological development, married with the potential for economic and energy savings that LED lighting represents, rest assured that U.S. Energy Recovery will be keeping a close eye on LED industry trends and action.