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| Lighting Industry Survey Confirms LED Lighting Market Growth |
2009-09-02 |
Cree, Inc. (Nasdaq:CREE), a market leader in LED solid-state lighting components, announces the results of an independent survey on the adoption, deployment and benefits of LED lighting. The survey, taken at the recent 2007 Hong Kong International Lighting Fair, validates strong global growth for LED lighting applications, confirms awareness of the energy-efficiency benefits of LEDs and indicates that the adoption trend should continue through the end of the decade.
Nearly three-quarters (72 percent) of respondents have witnessed a growth rate in excess of 20 percent for LED lighting applications in their businesses over the past six months.
Almost two-thirds of respondents (63 percent) believe LED lighting will comprise more than 50 percent of their sales or installations by 2009.
Future growth in the LED lighting market is expected to come from a mix of applications -- with street/parking (20 percent), residential indoor (17 percent), retail/display (17 percent) and office (15 percent) cited as the leading opportunities.
Survey respondents represent top decision-makers at lighting manufacturers who attended the 2007 Hong Kong International Lighting Fair -- the largest lighting show in Asia and the second largest in the world. Nearly half the respondents to this survey were from outside of Asia, reflecting the survey's global reach.
"The survey results present us with a clear and positive picture of growth patterns and expectations from leaders in fixture design and manufacturing," said Greg Merritt, director of corporate marketing, Cree. "The survey shows an increasing demand for the high-quality, energy-efficient LEDs that Cree currently provides and is continuing to develop."
"The general illumination market is at a tipping point," Merritt said. "Cree's industry-leading XLamp(r) family of high-performance cool- and warm-white LEDs is uniquely positioned to serve the needs of lighting manufacturers who are ready to capitalize on this growth."
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