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Survey Says We Really Have Seen The Light

Posted by Ted Konnerth on April 18, 2012
Survey Says We Really Have Seen The Light
The LED lighting market is expected to grow at a 40% rate every year until 2015.

The popularity of LED-based lamps and fixtures is growing fast, says a recent survey done by Egret Consulting Group, a retained search firm exclusively for the electrical and lighting industries.

Respondents to the survey include more than 1,000 lighting and electrical executives and buyers, representing a combined 10,000 distribution centers.

Of the executives and buyers polled, 93% said their distribution center stocks LED. That’s a 50% leap from the amount of distributors who said they were stocking LED in a June 2010 survey. Most notably, the dramatic rise shows a steadfast confidence among the vast majority of distributors stocking LED lamps or fixtures.

What this means for homeowners is that if they’re looking for LED lighting, they’re in luck, because prices are coming down for the new technology-driven lighting products.

LED technology has revolutionized the lighting industry, and residential distributors are taking note. They see a growing customer base and increased commitment from manufacturers to produce cutting edge LED-based lighting solutions for a swelling market.

Only a few years ago, many lighting distributors cried humbug when it came to LED innovation. In truth, LED faced serious issues: warranty claims, price points, efficiency, performance standard, and general confusion within the market. The rationale distributors used to forgo stocking LED lighting was partly rooted in a fear the product would not move off shelves.

Now fast forward to the present. The lighting industry understands LED to be a game changing technology, one that’s energy efficient and financially smart in the long run. Further, market entry price points have dropped because of growing demand and a glut of LED components, which should quell grumblings from skeptics who still consider LED technology overpriced.

In fact, the big four manufacturers in the lighting industry – Philips, Cooper, Hubbell and Acuity – which were slow to adopt LED because of legacy investments in traditional lamp sources, have recently emerged with lamps, fixtures, and control solutions, utilizing new technologies to make lighting more efficient.

LED is now a more streamlined technology and consumers have a clearer picture of the benefits. Energy Star, Lighting Facts, and Department of Energy endorsements allow us to compare the swarm of competitors claiming they offer the best and brightest LED technology.

Those who continue to sell incandescent lighting will stay in business for as long as there is some demand. But lighting companies that have tapped into the LED market, which is expected to grow at a 40% rate every year until at least 2015, are reaping the benefits now. People in homes, offices, and anywhere where LED is shining are noticing the changes too, becoming satisfied with the long-term results LED brings.

 

Ted Konnerth is the founder, president and CEO of Egret Consulting Group – a retained search firm specializing exclusively in the electrical Industry. Ted was the global vice president of sales for Cooper Lighting prior to starting Egret and holds a PhD in Psychology.

Photo credit: www.SmartPlanet.com

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