The public lighting(CLASSIC) market is a booming market, and the demand for LED lighting is driving optimistic forecasts. This market is undergoing a transition from traditional lighting to LED technology. CFL lighting sales are still higher than LEDs, with revenues of $8.2 billion and $5.5 billion in 2015, respectively. The reason that hinders consumers from adopting Led technology is that their initial cost is higher. However, the demand for LEDs continues to expand and is expected to reach $12.1 billion by 2020. In this industry transition to LED, China is becoming one of the largest manufacturing bases and consumer markets.
The public lighting industry landscape is being redrawn: the evolving LED market is affecting the entire industry dynamics of the entire lighting value chain. The growing demand for LEDs is at the expense of traditional lighting technology, so many lighting companies have been trying to adjust their business, while smaller, more specialized LED-specific companies have entered the market.
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