SALEM, MA--(Marketwire -08/09/12)- Groom Energy and Greentech Media today announced the release of a new commercial and industrial LED lighting research report, "Enterprise LED Lighting 2012: Commercial and Industrial Market Trends, Opportunities and Leading Companies." An update to their previously published 2010 report, the study revises earlier forecasts upward, now sizing the 2012 North American market at $630 million, growing at 40 percent per year and expected to surpass $2 billion in annual revenue by 2016.
The report also introduces its Enterprise LED Lamp and Fixture Price Index, which aggregates latest pricing for a broad range of LED lamps and fixtures. The index shows that prices for enterprise class LED light fixtures have declined by 24 percent in the two years since the first publication of the report.
The market forecast revisions are based on four recent trends:
1. LED chip price/performance advancements
2. Emerging price competition
3. Growing utility incentive programs
4. Increased adoption by corporate customers
Recent LED price/performance increases are helping manufacturers deliver more cost effective designs that offer higher quality light output at lower costs. In an attempt to gain U.S. market share and distribution, Asian manufacturers are aggressively pricing their newest products, adding pricing pressure for both traditional and start-up U.S. based fixture manufacturers.
Meanwhile, utility incentive programs are now more broadly supporting LED upgrades, making them financially attractive beyond just the U.S. regions with the highest electricity costs. With successful first LED implementations behind them, many corporate customers now view the technology as less risky, with better financial return and added sustainability benefits.
The Vendor Market Continues to Expand:
At the spring annual Light Fair conference more than 400 companies showcased enterprise LED products, a 60 percent increase from a few years ago. The growth in the number of commercially available products has created confusion for many corporate customers. To address this, the report profiles 58 leading vendors, and names CREE, General Electric, Lighting Science Group and Philips as the four 2012 Enterprise LED Market Leaders.
"In the last two years we've seen tremendous growth in corporate adoption of LED lighting. While there are still a wide range in levels of product availability, performance, price and quality, corporate customers see the technology benefits and are moving forward with broader implementations," said Jon Guerster, CEO of Groom Energy.
Report Pricing and Availability
"Enterprise LED Lighting 2012: Commercial and Industrial Market Trends, Opportunities and Leading Companies," is intended as a single source reference guide for building, sustainability and utility managers, lighting designers, consultants and financial analysts interested in learning more about the LED lighting market dynamics. The report is available for $1,995 per single user and $2,495 for a company license. To review an abstract or to purchase online, visit www.groomenergy.com or http://www.greentechmedia.com.
About Greentech Media
Greentech Media is an integrated online media company designed to deliver the highest-quality content in the industry, whether it is research, news or critical networking events. Greentech Media is headquartered in Cambridge, Mass., with operations in New York City, San Francisco and Munich. For more information, visit http://www.greentechmedia.com.
About Groom Energy Solutions
Groom Energy is a leading provider of commercial and industrial energy solutions, with customers including Bed, Bath & Beyond, General Electric, Ocean Spray and Thermo Fisher Scientific. The company delivers a range of services from corporate sustainability and whole building energy assessments to turnkey installations at enterprise facilities across the United States. Groom projects help their customers reduce costs while positively affecting the environment. For more information please visit www.groomenergy.com or call 978-306-6052.
Groom Energy Solutions