Global LED lighting market revenue will grow at a rate of 30 per year

Based on surveys of lighting professionals and consumers, as well as global surveys of other input factors, world-leading global management consulting firms have recently announced their estimates of the global market for lighting markets up to 2020, including Differential analysis of applications, geographic factors and light source technologies.
The lighting market has attracted much attention due to its emission reduction effects and new factors such as the addition of LEDs and OLEDs. However, there is a lack of global and full-view coverage across all key sectors and applications, geographic factors, light source technologies and value chains. Comprehensive report. To fill this gap, McKinsey & Company was commissioned by Osram to draft an independent perspective on the global lighting market and its possible future evolution.
To provide a comprehensive overview of the growing global lighting market, including estimates of future LED market share, McKinsey surveyed lighting experts and consumers worldwide, including seven different countries (USA, Germany, Japan, China, Russia, Brazil and India).
The report shows that the global lighting market is expected to reach 110 billion euros in 2020 equivalent to the global TV market. Global population growth and urbanization are the main factors that increase the overall demand for lighting products. Urban and climate change issues are also driving energy products more energy efficient. The regulation of energy efficiency by governments around the world has accelerated the development of the lighting industry.
Today, the advent of the fourth lighting technology revolution in LED technology in human history is transforming the industry. Although LED technology has not yet achieved a price advantage, the large investment from companies can be expected to cut manufacturing costs at a rate of 30 per year, and LED is becoming a widely affordable technology.
The report shows that the global LED lighting market revenue will grow at a rate of 30 per year. By 2020, the LED lighting market revenue will be close to 65 billion euros, accounting for nearly 60% of the global lighting market.
The three most widely used lighting applications are general lighting, automotive lighting and backlighting applications, with the largest general lighting applications, accounting for approximately 75 of the total lighting market, and the deepest analysis in the report.

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