Philips predicts 30% increase in LED lighting market in the next three years


Philips Electronics recently predicted that the global LED lighting equipment market will grow at an annual rate of more than 30% in the next three years. By 2010, the size of its market will grow from about 700 million euros in 2007 to 1.5 billion euros.

LEDs, ie, light-emitting diodes, use solid semiconductor chips as luminescent materials, which are energy-saving, non-polluting, and have a long life.

Philips recently completed mergers and acquisitions of related companies such as Lumileds, TIR, Color Kinetics, Partners and Lighting, and Genlyte, thereby achieving coverage of the entire solid-state lighting equipment industry value chain. The company also provided the world's first fully LED-based lighting solution for the office of the loyalty insurance company located on the Champs Elysées in Paris.

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