By 2024, LED lighting sales will reach $216 billion

According to Navigant Research latest data show that from 2015 to 2024 the global LED lighting system total revenue will reach $216 billion. Navigant Research this week published a report entitled "LED lighting: global outlook," a deep analysis of the global LED market and forecasts to 2024 unit sales and total revenue. More precisely, due to the steady decline in LED prices, Navigant Research is expected in 2015 to 2024 period, the total revenue of global LED lights and modules will reach $216 billion. Therefore, whether it is ordinary household lighting or street lighting, LED lighting has now become the most economical choice. Foote Research, a senior research analyst at Navigant Jesse, said: "for commercial building, the most striking thing about the renovation project is that the old bulbs are replaced by efficient LED bulbs to improve efficiency. This change has taken place so quickly that by 2024 the LED lamp is expected to drive inefficient incandescent and halogen lamps out of the market." Navigant Research predicts that by 2024, LED light and module unit shipments will grow at a CAGR of 19%. 2015~2024 global LED lamp module and unit shipments in addition, the authors of the report said, "with prices, improve the efficiency and development of lighting technology, LED lighting Home Furnishing will erupt in the next few years." These figures are often affected by the decision of the governments of the world to prohibit the production of inefficient bulbs, instead of moving towards the LED lighting system. Look at India, it is trying to replace all the street lights in the next two years LED lights. As can be seen, LED lighting for those who want to save electricity in the country has become so common and important. From: http://cleantechnica.com/2015/09/08/led-lighting-systems-sales-total-216-billion-2015-2024-navigant/