Wherever you go these days, you see businesses switching their lighting systems from old-fashioned incandescent or harsh fluorescent to bright and shiny new LEDs. The local supermarket, the office where you work, the train station, restaurant or department store—all of these businesses are seeing the benefits of this rapidly developing technology. The light produced by LED bulbs is brighter and warmer and more focused than ever before, and business owners love the savings to their energy bills. But what about consumers?
According to the latest report by NPD DisplaySearch, a quarter of all global lighting will be LED-based by 2016, as the technology continues its rapid rise in manufacturing, and prices fall.
The growth can be attributed to consumers and businesses making the switch due to environmental concerns, as well as government incentives.
The new opportunity for LED lighting applications will double the market, from 16 million units in 2012 to a forecasted 33 million in 2013, and will nearly triple by 2016. Continue reading