Demand for Packaged LEDs to double
As retail prices for light emitting diodes or LED bulbs fall, it’s becoming clearer that they have become an popular alternative to common bulbs. Demands for the bulbs are seen to double in the coming years. “As retail prices for LED lamps have fallen, it’s become more obvious that they are an attractive alternative to conventional light bulbs, providing long-term savings in energy and replacement costs,” said Stewart Shinkwin, market analyst, lighting and LEDs, for IHS. “Because of this, shipments of LED lamps for lighting are set to increase dramatically in the coming years, rising to 2.4 billion units in 2016, up from 520 million in 2013. The rapid expansion of the lighting market will come as a major boon to suppliers of packaged LEDs, which are seeking the next growth opportunity following the slowdown of the backlighting business.” Read on at Evertiq.