The light-emitting diode (LED) industry has reached a turning point. LED production has grown tremendously, accompanied by a significant fall in prices that will further propel the sale of this energy-efficient digital-lighting technology. But the market isn’t going as quickly as before. Investors who are shying away from making investments in other cleantech manufacturing sectors are still willing to take a chance on LED; they are pumping money into startups that are finding creative uses of LED and package lighting with services. Despite the falling prices, LED lighting remains more expensive than the incandescent bulbs that have lit up the world for over a century. That high price remains a barrier for consumers permanently switching to LED light bulbs.
Key highlights from this report include:
- LED manufacturers are investigating new materials to create LEDs that give out brighter, warmer, and more-consistent light.
- While the LED market covers many segments, from backlights for electronic gadgets and appliances to automotive lighting, the biggest growth lies in the technology moving into our offices, warehouses, and homes.
- Digital lighting becomes personal. LED lighting companies use software to customize the glow of their lamps as a selling point.
- LED lighting is enabling the emergence of the digital home, where wireless communication and sensors connect appliances, personal electronics, and cooling and heating systems and make them easy to program and control.