172 pages and 55 charts and tables demonstrate all the key facts and draws conclusions:
• Lamp and luminaire prices have continued to decline, although perhaps not at a rate once predicted as suppliers attempt to protect margins and build brand value.
• Cost reductions and product innovations have continued steadily, but without any ground-breaking revelations, the improvements have been more iterative.
• Overcapacity concerns are easing as the global market grows, but this comes too late for many Chinese manufacturers with debt-laden balance sheets.
• The major players have set out their strategic stalls and many are increasingly focusing on product portfolios dominated by LED Lamps and Luminaires.
• 2013 sales of LED lighting fell below market expectations in many regions, but growth was still healthy, and restrictions to the sale of incandescents in the majority of developed markets will help spur growth moving forward.
The last 12 months have been an interesting time for those involved with the LED Lighting market, after years of hype surrounding the future around the potential of LED lighting for building applications, we are seeing the early days of full scale market implementation. Investor expectations have been high, but in several cases have not been achieved, and continued sluggish growth in global GDP has set back projections for market penetration.
A combination of continued consumer confusion over the benefits of LED lighting, a slow decline in sale prices and lower than expected global GDP growth meant that 2013 revenue growth for LED lighting was disappointing. However oversupply concerns are likely to ease towards the end of 2014 as capacity is absorbed by a steady increase in global demand.
The significantly longer lifespans of LED lighting products will, over the period to 2018 begin to erode the value of the replacement market for lighting. This in turn will lead to a reduction in revenue from sales of traditional replacement bulbs and leading suppliers in these markets will continue to diversify into LED fixtures and complete lighting solutions to compensate for the decline.
The major players such as Philips, OSRAM, CREE, Acuity and GE have set in place their strategies to retain a large slice of the market as the LED Lighting business grows. Ever increasing amounts of their revenues are coming from LEDs rather than traditional technologies.
Memoori is committed to providing information on innovation. Our services help companies in collecting and disseminating information throughout their organisation; giving a clear and consistent view of new technology developments, new research and activity in important adjacent markets.
via LED-professional http://ift.tt/1lHJPjR