2020 global lighting market will reach 110 billion euros

Lighting market because of its emissions reduction effect and new factors such as the LED, OLED participate in focus, however, the lack of on a global scale, the whole point of view contains across all key department and application, geographical factors, light source technology and value chain at different stages of comprehensive report.In order to make up for the shortfall, McKinsey, a consultancy, authorized by osram, drafted an independent perspective to report the evolution of the global lighting market and its possible future.

2020 global lighting market will reach 110 billion euros

In order to for a comprehensive overview of the development of the global lighting market, including LED market share forecast for the future, McKinsey for global lighting experts and consumers were investigated, including seven different countries (the United States, Germany, Japan, China, Russia, Brazil and India).

The report shows that the global lighting market is expected to reach 110 billion euros in 2020 – the equivalent of the global TV market. Global population growth and urbanization are the main factors to improve the overall demand of lighting products, urban and climate change issues are also driving more energy-efficient lighting products, governments around the world for energy efficiency regulation accelerated the development of the lighting industry.

Today, the advent of human history –LED fourth revolution in lighting technology are transforming the technology industry. Although, LED technology has not achieved more price advantage, but from a large number of investment companies can be expected to grow at an annual rate of 30 percent reduction in manufacturing costs, LED is becoming a common technique widely affordable.

Reports show that the estimated global LED lighting market revenue will grow at an annual rate of 30%, to 2020, the income of the LED lighting market will be close to 65 billion euros, with nearly 60% of the share in the global lighting market.