Fundamental Changes in the Lighting Market
Among the various lighting markets, the largest is general lighting, which includes lighting applications in the construction environment – residential, commercial, hospitality, architectural, outdoor or industrial. It comprises approximately 70% of the lighting market (source: Mc Kinsey), and growth is closely correlated to new construction and renovation.
The next most significant market is automotive, which comprises approximately 20% of lighting industry revenues (source: Mc Kinsey), and is focused on headlight, exterior ancillary exterior lights and cabin lighting applications. Other discrete lighting markets include display backlighting, signage, medical and commercial transport.
The lighting industry is facing a major restructuring with the advent of new lighting technologies. LED lighting, now used extensively in display backlighting and automotive applications, poses a growing challenge to commercially established general lighting technologies such as compact fluorescent (residential), fluorescent (office), and high-intensity discharge (commercial). OLED lighting is expected to enter the future lighting market, especially in design and architectural applications. The flat form factor in combination with panel flexibility also might open up new possibilities for automotive and avionic light.