The increase in the living standards and changing lifestyles has led to a greater demand for energy-efficient new lighting technologies over the traditional incandescent and halogen lighting. A wide number of application areas ranging from small household lighting to commercial and industrial lighting have been benefited by these emerging lighting technologies. The fulcrum has further shifted in favor of these new technologies by virtue of their availability in different sizes and shapes and with different fixtures to justify their usage in the widely varied application areas. With U.S and Europe holding the major chunk of the market share currently, Asia is seen as an emerging market with tremendous potential, particularly in countries like India and China.
Though the market is being boosted by the improved energy efficiency obtained, but there are challenges to be overcome. High initial cost and health and environmental concerns in developed countries are some of the major hiccups for the industry. However, the current market trends show the increasing market size for emerging lighting technologies in both the developed and developing countries. With continued efforts and research to overcome the challenges, and development of improved products at affordable prices, the market is set for a roll-on for the next several decades.

The global emerging lighting technologies market is expected to be worth US$112.2 billion by 2014, growing at an estimated CAGR of 7.9% from 2009 to 2014. Fluorescent lighting forms the largest market segment; and is expected to reach US$82.6 billion by 2014 at a CAGR of 7.9% for the same period.
North America is the largest emerging lighting market; and is expected to be worth US$43.9 billion by 2014, accounting for nearly 39% of the total revenues. Europe is the second largest segment and is expected to reach US$37.9 billion by 2014. However, Asia is the fastest growing market and is poised for a high growth of 8.6% for the next five years.

The accompanying figure indicates the estimated market share of emerging lighting products in 2009.

Source: MarketsandMarkets

The fluorescent lighting is expected to enjoy the maximum market share with 745 in 2009 followed by high intensity discharge with 8% in 2009. Reason for high market share of fluorescent lighting is, its suitability to use in almost all places and traditional lighting such as incandescent lighting is primarily getting replaced by these only. The patent analysis of emerging lighting products indicates that maximum number of patents has been registered for fluorescent lighting, which accounts for 46% of the total number of patents registered, followed by light emitting diode with 29% of the total patents registered. Geography-wise, the Japan accounts for 54% of the total patents registered in emerging lighting products followed by U.S. with 25%.