A new white paper from research firm Navigant Research investigates the transition under way as the lighting industry shifts from traditional lighting sources to integrated lighting.
“The lighting industry is headed down a path of market transformation,” Navigant Research said, “with new technology developments and innovative applications expected to displace the traditional light bulb,” thanks to the LED, which Navigant describes as “the force majeure in today’s lighting industry, offering significant energy savings, controllability, and lifespan benefits that are already creating market disruption.”
Specifically, according to Navigant’s new white paper, advanced lighting technology revenue is expected to reach $16.9 billion in 2024.
“The public’s eventual acceptance of LEDs and the increased market penetration of organic LEDs (OLEDs) has provided a platform for flexible LED and OLED lighting sheets that will eventually create another major shift in the lighting market,” said Krystal Maxwell, research associate with Navigant Research. “These products, using a completely new form factor, have the potential to change the way lighting is experienced and ceilings, wallpaper, and windows are constructed.”
The white paper explains that “Lighting technology will soon no longer be about just seeing in the dark; rather, it will develop into a gamut of use cases and benefits” thanks to companies like Acuity Brands, Konica Minolta, LG Chem, and Philips Lighting, who are all turning lighting into something fun, functional, and efficient. LED lighting has allowed for WiFi-enabled lighting throughout your house; lighting tied to your location by way of your phone; energy savings and remote accessibility. LED lights are also finally becoming “yellow enough” to be used in street lighting, providing massive savings for councils, while new ways to connect lighting throughout office buildings — such as Cree’s SmartCast Power over Ethernet — is bringing lighting into the Internet of Things.
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