According to a report by Allied Market Research, the global light emitting diodes or LED market is expected to reach $42.7 billion by 2020. North America will see the fastest growth among all the regions. The LED market is expected to grow at a CAGR of 15.3% between 2014 and 2020.
Allied Market Research notes in its report that the entrance of LED in applications such as general lightings is a strong thrust to the lightings market. Further, the report notes that LED is expected to surpass the conventional CFL and CCFL lighting market due to its advanced features.
Allied Market Research also adds in its report that over the years, consumers are expected to gain awareness regarding the benefits of LED lamps’ longer lifespan. This would eventually lead to a widespread adoption of LED lamps, the research firm notes.
Yesterday morning, Lighting Science Group Corp. (OTCPK:LSCG), a global leader in next generation LED lighting solutions, announced that it has received 35 new patents from the U.S. Patent and Trademark Officer (USPTO) in 2015.
Based in West Warwick, Rhode Island, Lighting Science Group is engaged in the design, development, manufacturing and marketing of illumination products that use LEDs as an exclusive light source. The company’s portfolio includes replacement lamps, luminaires and biological lighting.
The patents received by LSCG last year cover the fields of biologically adjusted and corrected lighting, light spectrum control, micro-electric optics, and advances in roadway infrastructure and other lighting fixtures. Nearly a third of the 35 patents enhance the company’s leading role in developing and bringing to market HealthE lighting solutions using biologically adjusted and biologically corrected spectra designed to improve human health and productivity.
LSCG has also received patents for inventions that are expected to deliver key advancements in the field of medical care. The patents are related to the phototherapy treatment of various medical conditions.
Ed Bednarcik, CEO at Lighting Science, said that the new set of patents expands LSCG’s vast portfolio of issued patents to 366, with many focused on spectrum control and its effect on human health.
Bednarcik further said that as a global company rooted in science and technology, LSCG thinks far beyond basic lighting solutions and with more than 360 patents, the company has one of the most comprehensive intellectual property portfolios in the LED industry,
which it will continue to leverage to deliver innovative products for its residential and commercial customers.
While the backdrop of hundreds of patents is beneficial to the Company, investors have not been enthusiastic about the Company’s share price with shares currently trading near their 52- week lows at $0.085 in mid-day on Wednesday.
Hopefully, the Company has something up its sleeve to enhance shareholder value in 2016, otherwise shares will likely continue to languish as so far the Companies immense patent portfolio has not been enough to excite investors.Tags: Ed Bednarcik, LED - Light-emitting Diode, LED IP, LED patents, LED science, Lighting Science, Lighting Science Group Corp