Lighting Industry, News

LED ‘to hit 82% market share’ by 2020

The global market penetration of LED lighting is set to pass 80 per cent by 2020, according to a report, as the market ‘kicks into high gear’.

In its latest report on the outlook for the LED lighting industry over the next six years, Research and Markets says the LED lighting market ‘began to rebound’ in 2013, with leading global companies seeing improving performance.

With the market for LEDs in TVs, phones and other devices having already reached maturity, the lighting segment is expected to play the leading role from now on, fuelled by bans on incandescent lamps, technological progress, economies of scale and price erosion.

And with regulations on mercury set to restrict the sale of fluorescent lamps from 2020, uptake of LED is expected to accelerate.