LED lighting firm Philips is currently showcasing new products in Lighting Japan 2013. According to Philips, LED lighting and digital control will become a new market opportunity. Klaas Vegter, chief technology officer of Philips Lighting, noted that the CAGR of the global lighting market from 2011-2015 is likely to be 5-7%. LED lighting currently accounts for approximately 45% of global lighting market share. Vegter added that digitalized lighting and control can help save up to 40% of energy, hence through integration of LED, control, and software, digitalization can become a new market opportunity for the industry.
Vegter stated that the digital revolution will be divided into three stages and the first stage is to replace traditional lighting while the second stage is to develop lighting fixtures that can accommodate the characteristics of LED lighting. The third stage, Vegter added, is to develop new lighting applications such as integration of LED lighting with architectural designs. Currently, the industry has begun to enter the third stage and hopefully firms can develop more functions for the LED lighting industry to continue seeing growth, said Vegter.
Osram, another major international LED lighting firm, stated that LED lighting output value in 2015 is likely to reach US$14 billion and the firm is optimistic about the growth of outdoor, department store, and building lighting. Osram believes by 2020, the LED lighting penetration rate will reach 70-80%.
According to Samuel Wu, president and CEO of Osram Asia Pacific, the penetration rate of outdoor lighting will increase from 6-74% from 2011-2020 while penetration rate of department store lighting will grow from 9-81%. Furthermore, Wu added, the penetration rate of building lighting will increase from 47-88% while the residential lighting penetration rate will grow to 73% from 2011-2020.
