It’s a new era in the ongoing transition from fluorescent to LED (light-emitting diode) lighting technologies, according to Navigant Research, www.navigantresearch.com, Boulder, Colo. The group recently released research to this brilliant effect: Within the next 10 years, LEDs are expected to become the lighting technology of choice, especially for commercial markets. In fact, the installed base of LED luminaires for commercial applications is expected to grow from 187 million in 2014 to nearly 2.8 billion by 2023.
This industrywide transformation to LED lighting is picking up steam and is expected to accelerate in the coming years. While LED products are still more expensive than the fluorescent lights they are meant to replace, they are also more efficient and offer a range of additional benefits, such as improved color quality and better dimming,” according to Jesse Foote, senior research analyst with Navigant Research.
Additionally, because of the longer lifespans of LED lamps, replacement cycles for commercial lighting systems are expected to become much longer, according to the report.
Navigant Research expects overall revenue from lamp sales to decrease in the next ten years, driving lighting companies to change their focus from that of equipment suppliers to providers of services and advanced lighting controls.
An executive summary of this report, “Energy Efficient Lighting for Commercial Markets,” is available for free download on the Navigant Research Website.
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