Packaged LEDs in lighting to reach $7.1B by 2016, up from $3.6B in 2013

Compared to incandescent bulb, compact fluorescent tube (CFT) lamp is clearly economical and also affordable. That's the reason why we don't see much of the use of incandescent bulbs. Along with the power saving, there are couple of other advantages of CFT lamps offer, which includes long life, delivering high brightness even at low mains voltages. To take it further, there is now LED lamps offering further reduction in power consumption, even longer life. Also LEDs are environment friendly by not using Mercury (CFTs use mercury). But the big drawback of LED lamps is high initial cost. You don't get a good quality LED lamp anything less than US$10. Many middle-class people hesitate to invest so much to replace CFTs with LED lamps. They are also expecting the price to fall further. That's what exactly happening now in the market, price of LED lamps are falling and sales are rising. Market research and IHS has forecasted the global revenue for packaged LEDs used in lighting applications is set to soar to $7.1 billion in 2016, up from $3.6 billion in 2013. The figure below presents the IHS forecast of revenue for packaged LEDs in lighting. A packaged LED is an LED die with a protective covering with contacts that enable it to be directly soldered to an electrical circuit.
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