The horticulture lighting market is one of the most exciting potential markets for LED technologies to have a massive impact. Incumbent lighting technologies, including high pressure sodium, metal halide and fluorescent to name a few, are beginning to be replaced with LED.
In 2017 the packaged LED market saw a stabilization of the price erosion that swept the market in 2015 and somewhat in 2016, as capacity of LED chips and therefore packaged LEDs steadied, mostly due to a lack of new MOCVD tool installations stemming from a lawsuit between Veeco and AMEC.
The global lamp market has undergone tremendous changes over the last several years. Government regulations, declining packaged LED and other component prices, and technological advancements have all played a major role in the continued penetration of LED into the overall market.