LED Lamps to Surpass Traditional Lamps in Offices by 2019

The use of smart lighting in offices worldwide is set for an impressive growth in the next five years as LED lamps will overtake traditional lamps by 2019, according to a new report from IHS. Currently, smart lighting is used in only a minority of offices around the world but is found more commonly in developed countries such as the United States and Japan. However, in the coming years, revenue from LED lamps will grow at a compound annual growth rate (CAGR) of 21.4% during the 2014 to 2019 time frame, IHS says. This revenue growth will overtake traditional lamp revenue in offices by 2019.