Bridgelux overwhelms the LED lighting market
The firm says new customers, technology innovations and additional funding will enable the LED manufacturer to seize market opportunities
Bridgelux has reported that market conditions and its recent achievements ideally position it for additional growth and leadership in 2012.
The company's revenue grew by 792% from FY 2006 to 2010, and Bridgelux expects to see an additional 100% year over year growth by the end of 2011. During the past year, the company raised $76 million in additional funding, added several noteworthy customers, introduced innovative products and technology and received numerous industry awards.
The LED luminaire market is poised for dramatic expansion, with analysts predicting growth of 40% (CAGR) through 2015. Recognising its potential, prominent financial and strategic investors cast their vote of confidence in the market overall, and Bridgelux in particular by investing a total of $76 million in the company this past year.
"We're seeing significant increases in adoption and demand for LED lighting in many sectors and regions. In fact, we've experienced a 300% unit volume growth in LED array sales in the past year alone, dramatically increasing our market share while also delivering well over 100M high power LED chips to enable new and innovative product designs," said Bill Watkins, Bridgelux's Chief Executive Officer.
"Going forward, Bridgelux is extremely well positioned to meet rising demand: we're well funded, have some of the industry's most innovative technologies and product designs, and have established strong strategic partnerships."
Retail and hospitality are among the most promising near term sectors for the LED lighting market, with growth (CAGR) from 2010 to 2015 predicted to be 59% for retail and 54% for hospitality. Geographically speaking, Europe in particular has great market potential, with analysts predicting 101% (CAGR) growth from 2009 to 20153.
Bridgelux recently expanded its customer base in all of these sectors, adding to both its hospitality and retail customer base with installations at The Sheraton Hotel at D-Cube City in Seoul, Intersport Austria in Klagenfurt, the Dior fragrance booth at the "Galeries Lafayette" in Paris, Coop Adriatica stores in Italy, and over 40 Manor department store locations throughout Europe with several more installations scheduled for the first quarter of 2012.