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GE Lighting Sees Brighter Future With LED Growth – Forbes

The rapid development in LED lighting technology over the last few years has changed the dynamics of the global lighting market. Improved brightness, lower energy consumption and longer life spans offered by LED lights have led industrial, commercial and even residential consumers to increasingly adopt LED lights.
General Electric, which has been a leader in the global lighting market since Thomas Edison’s incandescent bulb, has seen strong growth in its LED lighting business due this changing market environment. The company’s LED business has also benefited from a strong emphasis on research and development as well as strategic acquisitions that have expanded its product portfolio, market share and penetration.
GE Lighting is a part of GE’s energy management segment, which generated $7.4 billion of the company’s $147 billion revenues in 2012.
See our complete analysis of GE here
LED Lighting Market Is Expected To See Strong Growth Ahead

LED lights are based on light emitting diodes compared to incandescent bulbs which are based on filaments. LEDs are highly efficient as they offer brightness of up to 150 lumens per watt compared to CFLs (compact fluorescent), which offer brightness of around 60-70 lumens per watt and incandescent bulbs which offer below 30 lumens per watt. This highly improved quality of light offers advantages in multiple applications like street or parking lot lights where improved brightness enhances safety and security.
In addition, LED lights are more environmentally friendly as they consume less power than either CFLs or incandescent bulbs. These lights require about 8-12 watts of power compared to around 15 watts required by comparable CFLs and 60 watts required by incandescent bulbs. Lower power consumption and a consequent decline in the cost of lighting one’s home or office space is a significant advantage especially in the case of commercial buildings where a significant portion of the total energy consumption comes from lighting.
LEDs also have much larger life spans, which along with their lower maintenance costs ensure that the higher upfront investment in them gets compensated during their lifetime. In all, the improved quality of light, reduced energy consumption and higher return on investment offered by LED lights will grow their market.
Currently, LED lights occupy 18% of the $66 billion global lighting market. According to industry data cited by GE, this share of LEDs is expected to rise to 70% by 2020, when the global lighting market is forecast to reach about $100 billion.


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