Venture investors like Alan Salzman of VantagePoint Venture Partners see this transformation occurring in lighting, with everything switching to solid-state technology and causing "a $100 billion industry to flip" in the process. In Salzman's view, the mammoth lighting incumbents like Philips, GE and Osram "might catch up -- or might not."
The study also recognizes that rapid market growth will come from three emerging trends:
1. Recent LED chip performance advancements which allow more cost-effective designs for replacing existing lighting systems;
2. Newly introduced utility energy-efficiency financial incentives for converting to these LED-based systems;
3. Increased interest from building owners in applying sustainably oriented lighting retrofits that save money for their operations.
"We're seeing a whole range of well-engineered new products that produce high quality light and provide strong financial returns based on their energy savings," said Fritz Troller, one of the authors of the report and vice president of marketing for Groom Energy. "It's a perfect combination to produce accelerated LED market adoption."
"This is the first study we've seen specifically targeting the commercial and industrial market and its observations are consistent with our own view of the high growth rate we expect in the next few years," said Mark McClear, director of business development at Cree.
Michael Kanellos and the staff at Greentech Media have done extensive reporting on the trends and players in the lighting sector, including:
- LED Bulb Shoot Out
- GE Employs Jet Engine Technology to Cool LED Bulbs
- Nuventix Cooling LEDs
- Digital Lumens: LEDs Winning the Lighting War
More information on the LED lighting in the enterprise report here.