Philips 2015 Annual Report Download - page 55
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Sector performance 6.3
Annual Report 2015 55
6.3 Lighting
“ We are successfully leading the industry transformation
from conventional lighting to innovative LED and connected
lighting systems that unlock new value and experiences for
our customers and partners. Embedding lighting into the
Internet of Things, we will capture growth opportunities and
adjacent value from new services-based business models.
Our leadership positions, innovations and strong brand
present a catalyst for value creation, growth and a solid
foundation on which to become a stand-alone lighting
company.” Eric Rondolat, CEO Philips Lighting
• The lighting industry is undergoing a radical
transformation.
• The lighting market is being driven by the transition
to LED and connected lighting applications.
•Recognizing that the growth and prot pool will shift
to digitally connected lighting products, systems and
services, our goal is to become a lighting solutions
company capturing superior growth and protability.
• We continue on our Accelerate! journey to achieve
operational excellence across our businesses.
• The separation process is fully under way and is
expected to be completed in the rst half of 2016.
6.3.1 Lighting landscape
We are witnessing a number of trends and transitions
that are aecting the lighting industry and changing the
way people use and experience light.
We serve a large and attractive market that is driven by
the need for more light, the need for energy-ecient
lighting, and the need for digital and connected lighting.
The world’s population is forecast to grow from 7 billion
today to over 9 billion by 2050. At the same time, we
are witnessing rapid urbanization, with over 70% of the
world’s population expected to live in urban areas by
2050. These trends will increase demand for light. In
addition, in the face of resource constraints and climate
change, the world needs that light to be energy-