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How about the United States Lighting Market 2015

United States LED Lighting Market to Reach USD 5.2 Billion in 2015, Says TechSci Research

Two main factors impact the US market in 2015: Declining LED prices coupled with supportive government initiatives driving US LED lighting market.

With continuing innovation over the last decade, LED technology has made huge in roads into general lighting applications due to it being highly energy efficient, cost effective and environment friendly. United States witnessed the launch of LED lighting products in early stages of technology development, and over the last five years, the LED lighting market has witnessed a phenomenal growth and is gradually moving towards maturity. General lighting, backlighting and automotive segments are the major end-use LED applications. Presently, the general lighting segment dominates LED lighting market and is expected to account for majority of the market demand by 2020.

According to a recently published report by TechSci Research "United StatesLED Lighting Market Forecast & Opportunities, 2020", the US LED lighting market is expected to touch an estimated USD5.2 billion in 2015. Key factors boosting the demand for LEDs include continuously declining LED prices due to decreasing production cost coupled with initiatives taken by the US government such as Energy Policy Act of 2005 and increasing consumer inclination towards adoption of green technologies. Cree, Philips, GE and Osram Sylvania are few of the major players in the US LED lighting market. These leading players are expected to witness further increase in their respective market shares during the forecast period as a result of their wide ranging product portfolio and highly competitive product pricing strategies.


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