One hundred years after they were first "discovered," light-emitting diodes (LEDs) are poised to revolutionize the lighting industry. LEDs -- and their organic brethren (OLEDs) -- offer brighter lighting, significant energy savings, incredibly long lifetimes, and almost infinite design possibilities. LEDs and OLEDs are finding uses in a myriad of products and applications including automobiles, outdoor signs, traffic signals, televisions, mobile phones, computers, and accent lighting.
According to market research publisher SBI's all-new report, "World Market for LEDs and OLEDs," the market for this versatile and efficient technology currently exceeds $5 billion globally with the United States accounting for slightly more than $1 billion of the total. In years past, the market experienced growth rates of 50% or more. SBI projects the market's positive growth to continue, and approach $14 billion globally and exceed $3 billion in the U.S. by 2013.
Being environmentally and energy friendly are among the LED and OLED technology's greatest advantages. A LED converts 80% of the energy it uses into light compared to only 20% by a typical incandescent lamp. For example, a traffic light comprised of LEDs uses about 92% less energy than one comprised of incandescent bulbs.
Further, the technology could substantially lessen the need to construct more power plants to satiate escalating global demands for electric power. LEDs and OLEDs could also reduce waste in landfills because they do not contain hazardous materials and will not be a contaminant when, and if, they eventually end up in a landfill.
Despite the obvious benefits of LEDs and OLEDS the cost of the technology remains its Achilles' heel for the time being. "Cost is the primary hindrance to widespread adoption and changes in cost will have a significant effect on consumer purchases. If prices decrease faster than expected, then growth is likely to increase quickly," says Shelley Carr, associate publisher of SBI.
"World Market for LEDs and OLEDs" presents an in-depth analysis of the development, applications, products, manufacturers, and trends in the use of LEDs and OLEDs in the U.S. The report provides a comprehensive examination of the current market for these technologies and projects future market size and end-use applications through 2013. Marketing concerns including energy demand, environmental impacts, economic conditions, consumer acceptance, intellectual property rights, and government activities are discussed in relation to their impact on market growth. For further information visit: http://www.sbireports.com/LEDs-OLEDs-1806300/.
SBI (Specialists in Business Information) publishes research reports in the industrial, energy, building/construction, automotive/transportation and packaging markets. SBI also offers a full range of custom research services. For more information visit http://www.sbireports.com, or contact Jenn Tekin at (240) 747-3015 or [email protected].