SOURCE: SBI
December 16, 2008 16:06 ET
Market for Light-Emitting Diodes Illuminates New Options in Lighting Industry
NEW YORK, NY--(Marketwire - December 16, 2008) - 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/.
About SBI
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 jtekin@marketresearch.com.