Customers clamor for more efficient lighting
Customers will be clamoring for more efficient lighting technology in the near future to the tune of $78.3 billion worldwide through 2016, according to research from the Fredonia Group.
With the phase out of the sale of incandescent lamps, a shift to higher efficiency light sources with lower prices and improved lighting quality, such as light emitting diodes (LED), is increasing.
LED or solid-state lighting devices will experience the most dramatic and fastest growth driven by better performance capabilities and substantial reductions in cost, according to Freedonia. Other research has shown that color mixing adds value to solid-state lighting, including increased workplace productivity, educational improvement in schools, and improved health in such medical settings as hospitals.
For customers, installing LEDs or solid-state lighting is a quick and effective way of reducing energy expenditures and lowering energy consumption, although many customers may know very little about the technology.
Freedonia predicts that in the near-term, sales of fluorescent lamps will increase due to government efforts to phase out the use of energy inefficient, general service, conventional incandescent lamps. While compact fluorescent lamps (CFL) have generally been the replacement product of choice, sales are expected to be more limited going forward partly because of growing concern for safe disposal of spent CFLs and the increasing price and performance competition from LEDs, the research firm predicts.
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