The industrial and commercial LED lighting market is driven by various factors such
as high efficiency and durability, government ban on incandescent lamps and attractive
payback, as it consumes minimum electricity and reduces electricity bills. The global
industrial and commercial LED lighting market was valued at 12,927.9 million in 2012
and is expected to grow at a CAGR 30.8% during the forecast period from 2013 to 2019.