[High-tech LED News] Recently, McKinsey & Company announced its forecast model for the scale of the global lighting market in 2020. McKinsey surveyed lighting experts and consumers in seven countries in the United States, Germany, Japan, China, Russia, Brazil and India, and estimated that the global market value of lighting in 2020 will reach 110 billion euros.
Among them, McKinsey believes that the three most widely used lighting applications are general lighting, automotive lighting and backlighting applications, of which the largest general lighting applications, accounting for about 75% of the total lighting market.
As for LED lighting, with the continuous advancement of LED technology, it is expected that the LED manufacturing cost will be reduced by 30% every year, which will cause LED lighting products to continue to decline in product prices. McKinsey believes that the global LED lighting market revenue will grow at a rate of 30% per year. By 2020, the LED lighting market will have revenues of nearly 65 billion euros, accounting for nearly 60% of the global lighting market.
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