April 22, 2014…Strategies Unlimited (SU) predicts that the total market revenue from packaged LEDs will grow 12.9% from 2013 to 2018. According to SU, this growth is bolstered by 27% CAGR in LEDs for lighting applications. SU says that the global packaged LED industry grew from just $1.2 billion in 2000 to $14.2 billion in 2013. In 2009, illumination accounted for just $665 million in revenues, and this reportedly jumped to $4.4 billion in general lighting in 2013.
According to Strategies Unlimited analyst Katya Evstratyeva, “We forecast the growth for LEDs in lighting to be 27% of CAGR from 2013 to 2018, driven mostly by an increased consumer confidence and continuously increasing sales of replacement lamps, downlights, industrial, commercial, and outdoor products.”
SU notes that the top 15 companies in the LED business comprise about 81% of global revenues, and the top 25 companies account for 93% of revenues. According to SU, many companies are struggling to find their identities, and SU forecasts market consolidation in the coming years.