LED Lights Are in Progress of The Global Market

The global market for LED lights is growing all the time as an increasing number of people and companies are coming around to the energy-saving benefits of the illuminations.

Indeed, the market is set to grow by as much as 32 per cent by 2020, according to the Taiwan LED Lighting Industry Alliance.

Alliance convenor Alex Tong said the LED lighting business has flourished markedly in the last few years because of an increased demand for LED street lights, as has been seen in many UK cities in the last few weeks and months.

However, he said that demand will switch to indoor lighting to cover ceiling spotlights in living rooms, which will help to create more growth opportunities.

Tong is the director of the Green Energy and Environment Research Laboratories at Taiwan's government-financed Industrial Technology Research Institute (IRI) and he expects LED lights to account for half of the global lighting business in 2020 if the current pace of growth continues.

Tung Chien-hsiang, director of ITRI's Environmental Research Laboratories commented: "We have made our first step in standardising and advancing the industry's streetlight products and are now moving toward promoting LED lights for indoor use."

This forecast comes after IMS Research predicted that world packaged LED revenue will continue to grow right up until the end of the decade.

In its latest Packaged LED - World - 2012 Report, the research firm suggests that the lighting sector will be a huge driver of growth in this decade.

Indeed, it stated that the 2012 market size is projected to be around $10.9 billion (£6.7 billion), with $2.9 billion of that accounting for lighting with the rest in other applications.

Within three years it is expected that the market will be worth $13.5 billion, with a total of $5.8 billion in lighting and the rest in other areas.