LED Lights will Account for 42% of Residential Lighting by 2020
Due to the residential LED upgrade, the quality of LEDs has been improved constantly and the price continues to drop. More and more consumers choose to buy efficient and environmentally-friendly LEDs to replace incandescent, halogen or CFL bulbs at home. A professional market survey found that: In 2020, residential LED upgrade will continue. In residential lighting applications, nearly half of the bulbs are LED bulbs (42%), while this proportion was only 4% in 2014.
Incandescent bulbs have a short life span of around one thousand hours, therefore, they basically need to be changed within a year or even less; but after the residential LED upgrade, LED bulbs have a lifespan of up to 50,000 hours, which can be used for 20 years or more. Thus, there is very little need to get the bulb changed. LED bulbs generally have the appearance of traditional bulbs, so that they can be used universally with original bulb bases, accessories, etc. This is convenient for consumers and reduces the initial cost of upgrades.
The residential LED upgrade has the following advantages: It provides greater flexibility in design and thermal management. As fewer components are required, the cost of an integrated LED light is lower than that of a traditional LED replacement bulb. It may take some time for LED integrated light bulbs to be applied to buildings where traditional accessories already exist, but they are obviously a very attractive choice for new buildings.
In addition, some lights are more suitable to be upgraded into integrated LED lights. In 2014, about 39% of LED street lights were integrated LEDs, and this number will increase to 82% by 2020. This is also because upgraded LED street lights will require intelligence, new wiring and accessories.
Overall, LED will account for about 44% of the total lighting market by 2020, even in the relatively backward residential applications, the number of LEDs is expected to exceed one-third of the market.