LED market growth continues

The latest figures suggest that the LED industry, which helps to produce components for displays, lighting and many other products, has experienced continued growth throughout 2012, after a particularly positive performance in 2011.

Last year the LED lighting market generated revenues that were up 46 per cent annually, thanks in part not only to new commercial and industrial venues taking advantage of this energy efficient technology, but also to an increased number of retrofitting cases, where fluorescent lamps are adapted to use LED modules.

LED lighting is going to plateau in 2012, in part because this retrofit approach is no longer as prevalent as it was last year, although a small 1.5 per cent growth rate is predicted by the report from Strategies Unlimited.

Sales of LED displays will have increased in 2012 when compared with the previous year, while the costs associated with this technology will have dropped significantly, helping to speed up the adoption process.

In this first half of 2012, it is estimated that LED’s packaged costs were down by a fifth, year on year and manufacturers are actually broadening the range of products that they offer in this area, in order to cater to a more mainstream market that is now emerging for this type of technology.

While it is the industry and commercial sectors that are generally adopting LED lighting and displays at the greatest rate, because of the investment that they have on hand, it seems that consumer usage is also increasing, although this is not consistent across the globe.

It will be interesting to see whether growth becomes stronger in 2013, or whether there will be any as yet unidentified obstacles thrown in the path of the LED industry, which inhibit its expansion and leave 2011 as a high watermark.