LED building lighting is expected to reach US $23 billion in 2018

Memoori estimates that the market size of LED lighting in the construction sector has reached US $8. 1 billion in 2013 and is expected to rise to US $10. 3 billion by the end of 2014. The size of this market will further increase, reaching 23 billion US dollars by 2018. This shows the overall compound annual growth rate (CAGR)22. 8. However, once the time frame limited by this report is exceeded, the growth rate of this part of revenue will slow down due to the influence of the increasing cost of market competition, the market scale of LED lighting will stabilize in 2020. Consumers' chaotic understanding of LED lighting and the slow decline in product sales prices are even lower than the GDP growth in 2013, all of which make the overall revenue of LED lighting industry in 2013 unsatisfactory. However, concerns about overcapacity are expected to ease by the end of 2014 as demand grows steadily. With the rising demand for LED lighting, Philips, OSRAM, CREE, AcuityandGE and other major manufacturers, which play an important role in the lighting market, have formulated their development strategies to encroach on this market share. They will receive more and more business contributions from LED instead of traditional lighting technology. Although in the medium term, the development prospect of LED is bright, the lighting industry is also increasingly worried about what changes will take place in the LED industry when the demand in the replacement market basically tends to be saturated after 2020. Not to mention, when the market share of LED lighting reaches 70- 80. When the lamp replacement period is extended, where will the LED industry go.