Shipments of LEDs for residential applications to grow from 81 million in 2014 to 1.1bn units by 2023

Annual shipments of LEDs for residential applications are expected to grow from 81 million in 2014 to more than 1.1 billion by 2023, according to a report ‘Residential Energy Efficient Lighting and Lighting Controls’ from Navigant Research, which includes forecasts for LED, incandescent, halogen and fluorescent lighting. Prices for LEDs have come down dramatically, and the market for LED luminaires and lamps is set to explode in the residential sector as prices continue to fall, efficacy improves, and new use cases for lighting develop, the report says.