According to a recent report, the global shipments of residential energy-efficient lighting and lighting controls, including global market forecasts for LEDs, incandescent, halogen, and fluorescent lighting, are expected to reach 1.1 billion from 2014 through 2023.
The market for residential energy-efficient lighting is in the midst of a transformation, particularly as prices for LEDs decrease and new lighting technologies emerge. Many residential applications center on LEDs that are connected, allowing for the remote control of and interaction between devices.
The home energy management and home automation movements are sequentially increase, and smart lighting plays an important role in both. Residential consumers are finding that connected lighting is a convenient way to manage energy and to also tie in elements of safety, security, and functionality sometimes with just a couple swipes of a smartphone.
LEDs are expected to gain additional traction as many countries start to phase out or ban incandescent bulbs. According to the report, though alternatives tend to be less expensive, LEDs present fewer health concerns and offer better performance.