Groom Energy along with Greentech Media published the new industrial and business LED lighting report entitled "Enterprise LED Lighting 2012: Commercial and Industrial Market Trends, Opportunities and Leading Companies".
Reviewing the data in the 2010 report, the investigation updates the earlier prognosis, identifying the current US market worth at $630 million with a growth rate of 40% annually and anticipated to exceed the annual revenue of $2 billion by 2016.
The report also unveiled its Enterprise LED Lamp and Fixture Price Index showing a consolidated list of prices for the latest LED lamps and fittings. As per the Index, the cost of LED lights and fittings of the enterprise category has dropped by 24% in 2 years.
The market prognosis revisions are founded on four new trends:
Cost of LED chip or performance improvements Cost contention that is growing increasingly Growing utility incentive schemes Heightened approval and utilization by business consumers
The latest increase in LED cost and performance pushes manufacturers of LED fittings to come up with designs that offer more cost-effective, better quality lighting. Endeavouring to capture a bigger slice of the American market, Asian manufacturers are on an intense pricing drive for their latest products, thus increasing pricing stress on the American manufacturers of fittings.
Simultaneously, utility incentive schemes are pushing LED improvements, which make them appealing even beyond the high-electricity-cost US markets. Corporate consumers who have experienced the initial LEED fittings now recognize them as better options that offer enhanced economic returns and sustainability advantages as well as low risk.
