LONDON, June 17, 2015 /PRNewswire/ -- By the end of 2014, LED lighting passed the 30 percent penetration of the global lighting market. It was the second consecutive boom year, confirming the breakthrough in the key regions of Europe, North America, and China. Driven by enhanced controllability and energy efficiency, the revolution will continue and momentum will build throughout 2015. This transformational change brings massive opportunities across value chains, but also presents huge strategic challenges to incumbent participants in terms of pace of technology change and business model.
"LED has the potential to replace all existing lighting technologies, as it only offers additional benefits and has no drawbacks. LED will substitute incandescent, CFL, halogen, fluorescent and HID as soon as the price level becomes acceptable to the customer," confirms Frost & Sullivan Director of Consulting Gaia Nocchi.
LED is a digital light and offers new controllability and customisation opportunities. The key success factors are applications such as city/street lighting and retail.
The briefing will cover:
- how LED will come to dominate the global market by 2020
- the demise of traditional technologies
- the changes in customers' expectations and their use of light
- To attend the briefing, email Chiara Carella, Corporate Communications, at [email protected] your full contact details.
- Receive a recorded version of the briefing anytime by submitting your contact details.
- For more information about Frost & Sullivan's Energy practice, please visit: http://ww2.frost.com/research/industry/energy-power-systems.
- LinkedIn: Future of Energy
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SOURCE Frost & Sullivan