LED lighting market to grow 25% in 2014, say supply chain sources

The LED lighting market will reach US$5.7 billion in 2014, up about 25% from over US$4.58 billion in 2013, according to supply chain sources.

Solid state lighting (SSL) is expected to drive most of the demand in 2014 coupled with demand for backlighting units (BLUs). Additionally, LED costs are decreasing while quality and efficiency are increasing, the sources said.