LED lights are based on semiconductor modules and release less discharged heat as compared to fluorescent and incandescent products. LED lights are utilized across numerous end-user industries such as commercial, industrial, outdoor, and architectural. Profile ration of LED in applications such as traditional lightings has given a solid thrust to the lightings market. LED is anticipated to surpass the conventional compact fluorescent lamp (CFL) and cold cathode fluorescent lamp (CCFL) lighting market as it delivers high level of illumination, long life, high reliability, and high efficiency. In addition, LED lighting is a cost effective solution over conventional lighting applications such as CFL and CCFL. The global LED market is segmented by technology, namely: traditional LED, high brightness LED, organic LED, polymer LED, and ultra violet LED. The global LED market is further segmented by applications, into automotive, general lighting, display screen, backlight sources, forensic &research, and government. Furthermore, the global LED market is also segmented on the basis of product types into low power product and high power product. Lastly, the global LED market is also segmented by installation type as new installation and retrofit.
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The initial capex required for LED lighting is huge and this is restricting its initial acceptance. However, considering the longer lifetime of LEDs, the overall cost of the same is low when matched to CFLs. Incandescent lamps utilize extra energy than LED lamps; therefore, numerous governments have introduced laws to restrict their use. Moreover, non-commercial LED market drivers include actions implemented to back usage of LED lighting systems at the legislative level, and improvement of standards and regulations for running energy-saving lighting systems at the individual organization stages. LED lighting is environment...