Based on a global survey of lighting professionals and consumers, as well as other input factors, the world’s leading global management consulting company recently announced its lighting market model estimates for the size of the global lighting market until 2020, including Differential analysis of application, geographic factors and light source technology.
The lighting market has recently attracted attention due to its emission reduction effects and the addition of new factors such as LED and OLED, but it lacks a global, full-view perspective that spans all key sectors and applications, geographic factors, light source technology and different stages of the value chain Full report. In order to fill this gap, McKinsey Consulting was commissioned by Osram to draft an independent perspective report on the global lighting market and its possible future evolution.
In order to provide a comprehensive overview of the developing global lighting market, including an estimate of the future LED market share, McKinsey conducted a survey of lighting experts and consumers worldwide, 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-equivalent to the global TV market. Global population growth and urbanization are the main factors that increase the overall demand for lighting products. Urban and climate change issues are also pushing lighting products to be more energy efficient. The regulation of energy efficiency by governments around the world has accelerated the development of the lighting industry.
Today, the fourth lighting technology revolution in human history-the advent of LED technology is transforming this industry. Although LED technology has not yet achieved a more price advantage, large investments from various companies can be expected to reduce manufacturing costs at a rate of 30% per year. LED is becoming a widely affordable technology.
The report shows that it is estimated that the revenue of the global LED lighting market will grow at a rate of 30% per year. By 2020, the revenue of the LED lighting market will be close to 65 billion euros-accounting for nearly 60% of the global lighting market.
The three most widely used sectors of lighting applications are general lighting, automotive lighting, and backlight applications. Among them, general lighting applications are the largest, accounting for about 75% of the total lighting market, and are also the most deeply analyzed item in the report.