LEDinside：LED Lighting Market to Reach US$30.5 Billion in 2016 and Professional Lighting Markets to See Explosive Growth

The scale of the LED lighting market is growing steadily, according to 2016 Global LED Lighting Market Trends Report by LEDinside, a division of TrendForce. LEDinside estimates that the scale of the LED lighting market will reach US$25.7 billion in 2015 and expand to US$30.5 billion in 2016. The penetration rate of LED lighting is also projected to climb from 31% in 2015 to 36% in 2016.

 

Joanne Wu, LEDinside assistant research manager, stated that sharp price declines have severely impacted the margins of replacement products such as LED light bulbs and light tubes. Consequently, lighting companies begin to shift their focus to professional lighting markets and hope that increases in government spending, especially in new public projects, will create new opportunities. Sectors with tremendous growth potentials include industrial lighting, commercial lighting and architectural lighting.

See full article at LEDinside: http://www.ledinside.com/node/view/24054