LED Lighting in Buildings May Reach up to $25.4 Billion by 2017
According to a new report issued by Memoori Research, we can know the market quotation of LED lighting in buildings, market size data, investment data and all the factors that influence the industries future.
The company predicted that revenue from the global LED lighting market for buildings will reach up to $25.4 billion by 2017, which is about $l6 billion more than that in this year. This means the compound annual growth rate (CAGR) in the overall market reached 22%.
The global market distribution of the LED lighting will remain the same during the next five years, that is, the EU, North America, Japan and China still occupy the largest proportion of LED revenues. The CAGR in India will be the highest reaching 31%, but from a low base, the penetration rates will be still relative low. The rest of Asia (except Japan) will reach around 24% due to positive legislation and government incentives.