Despite the soft macro conditions, Cree claims that the LED market dynamics are improving as manufactures focus on driving global LED adoption and cut excess manufacturing capacity. Cree witnessed strong growth across its LED product portfolio in Q3 2013. While its LED component revenues increased by 8% y-o-y, LED lighting sales grew at a robust 51% during the same period. Strong sales of commercial indoor fixtures and the launch of CREE LED bulb in the quarter more than offset the seasonally lower outdoor lighting sales in the cold weather regions.
Cree claims that its LED bulb is the biggest announcement in the lighting industry in perhaps the last few years and will go a long way in accelerating LED adoption. Available for as low as $10, its new LED bulbs consume 84% less energy and provide similar levels of brightness compared to traditional bulbs.
With the demand from the backlight market nearing saturation, the expanding general lighting market is slated to drive LED sales in the future. As per LED Inside, the LED lighting segment is estimated to increase from around $1.5 billion in 2012 to approximately $8 billion by 2015, a CAGR of over 70%.
Source: http://electricalcontractor.com/?p=9398
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