According to a research report, global unit shipments of LED lamps and luminaires to reach 10.7 billion from 2014-2023.
In the last few years, as new LED products have reached the market, the technology has been increasingly competitive with the fluorescent lighting typically used in commercial applications. While still more expensive, LEDs have been found to be more energy-efficient and to offer a range of benefits, including improved color quality and better dimming.
The traditional lamp and luminaire model could be replaced by products that integrate the two, and even the concept of providing light through fixtures in the ceiling could shift, as flat and flexible LEDs allow for more creative designs that can be incorporated into other building materials and placed in nontraditional locations.
LED use in commercial applications is expected to be most apparent in retrofit projects, where older lighting is often replaced specifically to improve efficiency. Although the report indicates that only 15% of lamps sold to retrofit projects worldwide in 2014 were LED-based, that share is expected to increase to nearly 74% by 2023, potentially eliminating inefficient LED lighting technologies like incandescent and halogen.