Improving lighting efficiency is an investment in the future. Yet costs have been prohibiting many people from becoming early adaptors of energy efficient commercial lighting such as LED lighting. This is finally starting to change as we now have research that shows the costs of LED lighting is finally coming down, according to a recent report from Pike Research, LEDs will displace more than 52 percent of the global market for lamps in commercial buildings by 2021. Pike Research finds that the combination of declining prices for commercial LED lighting and the long lifetimes of LED lights will have the effect of shrinking the overall value of the market.
While revenues from LED lamps in the commercial sector will rise by 8.5 percent through 2021, to $2.7 billion, Pike Research finds, the overall market for commercial lighting will peak at $54 billion in 2012 before slowly shrinking and hitting about $30 billion in 2021… Read more