According to the Boston Consulting Group (BCG) report, the global lighting market is undergoing earth-shaking changes as LED lights begin to cut sales of traditional lamps. The global lighting market grew by 3% in 2010-2014, with revenues of $112 billion and is expected to increase to $133 billion by 2020. In addition, LED market share will increase from 5% in 2014 to 45% in 2020, and global lighting market profits will remain relatively stable, from the current $4.9 billion to $6 billion in 2020. Global Lighting Revenue Analysis Market Share In 2014, the global lighting market revenue was more than $112 billion, and it is expected to continue to maintain steady growth in the next few years. The largest area is the professional lighting market, with professional lighting, related services and systems with revenues of $43 billion, grabbing 39% of the market share; automotive lighting market revenue of $21 billion, grabbing 19% of the market; consumer lighting And system revenue was $19 billion, grabbing 17% of the market. The global lighting market industry growth is close to the global annual growth rate of 3% in 2010-2014, and it is expected to maintain this growth rate by 2020. Global lighting market revenues will soar to $133 billion in 2020, driven by the development of emerging markets and the increasing use of electricity by households. The composition of the lighting market has changed. Lighting field In 2010, the market share of traditional lamps and traditional bulbs was 51% and 14% respectively, occupying a dominant position in the market. In 2014, the market share of traditional lamps and traditional bulbs fell to 41% and 12%, respectively, while the market share of LED lamps jumped from 5% to 15%. However, by 2020, the lighting market will undergo tremendous changes. At that time, LED will dominate the market and seize 45% market share; followed by automotive lighting, market share will increase from 17% in 2010 to 19%; traditional lamps and traditional bulb market share is expected to slip to 11% and 4% respectively. Professional systems and services growth Professional lighting As more and more offices invest in more cost-effective LED lighting systems than traditional systems, it is expected that the LED professional lighting sector will reach 80% capacity by 2020. The investment in controlling architectural lighting is expected to expand and will grow at a CAGR of 15%. As part of the connected lighting system, all lighting revenues are expected to increase from 5% in 2014 to 25% in 2020. The reason for the high investment in lighting systems is that LEDs further save costs for company lighting, which is said to save 40% of energy. Improved profit margins to improve lighting profits Profit margins The total profit margin before tax and interest before the next few years will continue to maintain a good momentum, with a compound annual growth rate of 3-4%. The increase is mainly due to the growth of the top line (especially LED lamps). The market share of consumer lamps will increase from 3.2% to 3.5%, and total profit will increase from $4.9 billion in 2014 to $6 billion in 2020. (Text / Silvia translation)
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