LED lighting market prospects are expected to grow by 21%

According to market research firm Strategy Analytics, the solid LED lighting market will grow by 21% in 2011. But the growth of LED homes will be slower than previously expected.

According to a report entitled "2006-2011 Solid Light City Tide, the most important growth will not be residential lighting, but environmental lighting, including architectural lighting, work lighting, medical lighting and off-grid lighting.

Strategy Analytics predicts the overall average growth rate of the global lighting market, which was 4% as of 2011, with the solid-state lighting market growth rate reaching 3% in 2011.

Investigators did not expect a significant increase in residential lighting and the general consumer market by 2014 or 2015.

“Focus on the environment is driving consumers to look for environmentally friendly lighting products. But consumers will buy only when the price is right,” said Stephen Entwistle, vice president of strategic technology at Strategy Analytics.

“When optimistic about the solid-state lighting market, we must consider that energy-saving lamps are gradually accepted by consumers,” he added.

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