According to a study titled Energy-Efficient Lighting for Commercial Markets conducted by the analyst firm Pike Research, it is predicted that by 2020, Light Emitting Diodes (LEDs) lighting will account for 46 percent of all lighting in the commercial, industrial, and outdoor stationary sectors. The LEDs will account for almost half of the $4.4 billion a year commercial lighting market within 10 years, reports Danny Bradbury, BusinessGreen.
Clint Wheelock, Managing Director at Pike Research, said that the LED lighting is already used in traffic signals and exit signs. He also said that the LED manufacturers will switch their attention to concentrate on the outdoor stationary sector, followed by lighting for retail, professional and institutional buildings. However, the report predicted that other forms of energy efficient lighting will continue to play a sizable role in the market until the cost of LED lighting falls substantially.
However, the Indian government has begun to explore ways to reduce the cost of LED lighting in a bid to establish the country as a major manufacturing hub for the technology. The National Manufacturing Competitiveness Council has formed a new committee that has recommended aggregating demand for LEDs in various Indian states in order to encourage domestic manufacturing and reduce costs. According to reports, the committee is hoping to put in place targets for price and performance in LED applications such as institutions and public lighting, in consultation with manufacturers and potential customers.