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The Future of Lighting by Bill Watkins CEO of Bridgelux, an LED Manufacturer

You've likely heard that LED lighting is a good thing. I'd go so far as to say it has the potential to help make history and change the world. The latest research data indicates that a decade from now, nearly half of the commercial lighting business will be owned by LED lighting. Here are five illuminating truths:

  1. It's a massive $100 billion market that already exists.
  2. The lighting market will increasingly look, feel and operate like the information technology industry. Light bulbs represent the world's last vacuum technology.
  3. The traditional lighting business fosters long-accepted rules, particularly around innovation. Traditional manufacturers take 16 months to two years to innovate--far too long to bring today's customers the changes they want and need. So startups are breaking the rules, compressing innovation cycles into as little as three months.
  4. The lighting industry must start to view the world as a commercial whole, creating a global supply chain. By conducting LED research in the U.S. and diversifying manufacturing across the globe, it's possible to be an asset-light company that doesn't invest a lot of precious capital in fixed production costs, resulting in a significant, positive impact on product cost.
  5. LED prices will continue to decline until there's a thriving, global mass market.  At a $10 price point, the payback will be one year and the residential market will explode.
    8/18 Forbes