LED lighting forecasted to reach 33 million units in 2013, growing 2x+

NPD DisplaySearch has reported LED lighting applications will double the market, from 16 million units in 2012 to a forecasted 33 million in 2013, and will nearly triple by 2016. The other findings and analysis shared by NPD DisplaySearch: The demand for all LED lighting products—including spot lights, LED luminaries, street lights, LED light bulbs and fluorescent tubes—will reach 90 million in 2016, increasing the global penetration for LED lighting applications to 26% in 2016, up from only 5% in 2012. This increase is due in large part to continued growth in commercial applications, government incentive programs, and consumer demand for energy-saving technology. The highest growth will be in LED-based tubes that replace fluorescent (FL) tubes used in commercial applications, LED-based street lights, and LED luminaires–innovative designs that produce light across various shapes and sizes. Figure 1: Demand in LED Lighting Applications
Source: NPD DisplaySearch LED Lighting Market and Forecast Report “LEDs are playing a leading role in the lighting industry, driven primarily by government incentive policies and consumer demand for more efficient light sources with advanced technologies such as wireless and color control,” noted Steven Sher, Analyst, NPD DisplaySe...