Frost & Sullivan: Legislation and Technology Improvements to Illuminate World LED Lighting Markets

Frost & Sullivan: Legislation and Technology Improvements to Illuminate World LED Lighting Markets PR Newswire LONDON, Nov. 14, 2012 -- The analysts forecast a massive growth: from three to 23 billion by 2018 LONDON, Nov. 14, 2012 /PRNewswire/ -- Low penetration in indoor lighting applications has, so far, been a bane for the light emitting diode (LED) market. However, improving technology and supportive legislation are set to push residential buildings – the largest lighting application sector – into adopting LED technology for their lighting needs. New analysis from Frost & Sullivan (http://www.buildingtechnologies.frost.com) World LED Lighting Markets (2012 Update), finds that the market earned revenues of $3,573.5 million in 2011 and estimates this to reach $23,242.7 million by 2018. "The LED lighting market is being driven by legislation that will essentially phase out incandescent lighting and other inefficient lighting technologies," noted Frost & Sullivan Industry Analyst Hammam Ahmed. "This will effectively narrow the competition for LED lighting. Declining LED prices will further boost the demand for, and penetration of, LED across multiple lighting applications." The European Union has been among the first to adopt legislation supporting the withdrawal and ban on the production and sale of incandescent lighting. Although such legislation will be implemented in multiple phases, it has already begun to have an impact on the demand side.