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Rise of Energy-Saving LEDs in Lighting Market Seen as Unstoppable

The switch to energy-efficient lighting will proceed rapidly this decade.  Light-emitting diodes or LEDS, in particular, are driving the lighting market as commercial, industrial and outdoor sectors — which make up 96 percent of the world's lighting energy use — continue to realize massive savings from the emerging technology. Globally, the LED market reached nearly $5 billion in 2010 and is expected to surpass $7 billion at the end of this year.  By 2020, the market is expected to reach more than $20 billion.  That growth is due chiefly to the widespread adoption of LEDs in television and display markets, which is driving down the manufacturing costs and per-unit prices for lighting by as much as 25 percent per year.  Although newer LED technology comprises less than 1 percent of the 32 billion light bulbs and lamps used worldwide, the research firm anticipates LEDs will make up 45 percent of the overall market by 2020.