Lighting LED Market Value is Expected to 7.16 Billion in 2018August 22, 2018 by LEDinside

The lighting LED market value increased more than 10% YoY in 2017, and is expected to grow about 7.8% in 2018, reaching USD 7.16 billion. But it will suffer decrease and enter recession period after 2020. The retrofit lamps like bulb and tube have been saturated, while the industrial lighting products including high/low bay and the commercial lighting products like troffer, panel light and filament lamp still achieve CAGR of 30%. The overall CAGR of lighting LED will reach 4% during 2016-2021.

 Quality of light is still the one of the market attentions. High-CRI LED refers to the LED products with CRI higher than 90, mostly applied to high-end commercial lighting market like museum lighting, retail lighting and food lighting which has strict requirement on quality of light. High-CRI LED takes up small market share at present, and its global market scale in 2017 is around USD 330 million. As the market demand increases in next few years and the package technology improves, the revenue is expected to achieve rapid growth