Global LED lighting market expected to reach $25.7bn in 2014November 10, 2014 - 13:31 AMT PanARMENIAN.Net - The global LED lighting market is expected to reach $25.7 billion in 2014 followed by a market penetration increase to 31% in 2015 as the overall lighting market grows to $82.1 billion, DigiTimes reports. The top five lighting brands in terms of revenues during 2014 will be Philips, Panasonic, Toshiba, GE and Osram, according to findings from TrendForce. Digitimes meanwhile reported that the LED penetration rate is expected to reach between 60-70% over the next five years due to decreasing prices and energy-saving capabilities. With the LED penetration rate reaching over 90% in LCD TV backlighting applications, LED makers are anticipating a surge of growth in the lighting market, as economies across the globe are looking to more energy-saving solutions. Global demand for LED lighting products and LED-based lighting systems and services in 2018 will increase from 2013 by 190% and 180%, respectively, and global demand for LED lighting will begin to exceed that for conventional lighting products in 2017, according to Digitimes Research. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | European Parliament to discuss repression in Azerbaijan The European Parliament will discuss repression of civil society in Azerbaijan on April 24 PACE wants concessions from Azerbaijan to accept Baku back A PACE co-rapporteur said that Azerbaijani authorities must make certain concessions so that the country can return to PACE. Cyprus parliament honors Armenian genocide victims Acting House President Zacharias Koulias noted that April 24 marks the “black anniversary” of the Armenian genocide. Armenia PM, France envoy discuss regional matters Issues related to the consistent development of Armenia-France cooperation were discussed. |