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Increased competition, steady cost reductions and improved technology performance are putting the LED lighting industry on a path to securing an 80 percent market share for lighting by 2020.With revenues flattening out in the broader LED market, lighting technologies will become a more important focus for manufacturers. This will put pressure on traditional lighting companies like Philips and Osram, which are also investing heavily in LEDs. The lighting industry has been relatively stable for the last 100 years. But the emergence of cost-competitive LEDs has caused a "paradigm shift" in the lighting industry that has "changed everything". Historically, the incumbents had an edge in lighting manufacturing because of the specialized glass furnaces needed for traditional bulbs. But high-volume LED production has allowed new entrants to enter the market, eating away at the share for traditional lighting companies.