The rapid growth of LED lighting technology in recent years has changed the global lighting market. LED lighting has higher brightness, uses less energy, and has a longer lifespan, attracting more and more LEDs for industrial, commercial, and even home lighting consumers.
Since Thomas middot; Edison commercialized incandescent lamps, General Electric became the leader in the international lighting market and saw the strong growth of its LED lighting business in a changing market environment. Following the expansion of the product portfolio, market sharing and penetration of strategic acquisitions, GE's LED business has benefited a lot from research and development.
GE Lighting is part of GE Energy Management, which contributed $7.4 billion in 2012 revenues of $147 billion.
Like the filament of an incandescent lamp, the LED light is based on a light emitting diode (LED), compared to 60-70 lm/W for compact fluorescent lamps and less than 30 lm/W for incandescent lamps, LED lamps. The light efficiency is higher, reaching 150 lm/W, which greatly improves the quality of light and improves safety in a wide range of lighting environments such as streets and parks.
In addition, LED lamps consume less energy than compact fluorescent and incandescent lamps, and are less harmful to the environment. The 8-12 watt LED lamp provides 15 watt compact fluorescent or 60 watt incandescent lighting. Less energy consumption and consequent reductions in electricity bills are a significant advantage, especially in commercial buildings where lighting energy consumption accounts for a large portion.
The rapid growth of the LED lighting market has also been reflected in the LED business of GE Lighting in recent years. The company's LED lighting grew by 24 in 2011 and 35 in 2012, and GE expects such strong growth to continue this year.
General Electric's components and packages, such as LED chips, are then integrated with heat sinks, optics, and other control systems to create efficient LED lighting. In addition to selling LED lighting products, General Electric also offers services such as custom lighting solutions and delivery engineering management. Value-added services such as this will also help GE Lighting's LED products increase sales.
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