As the legislation ban of Incandescent bulbs in the US and Europe, a large-scale adoption of energy efficient LED lights are forecasted in the next five years, it is expected to generate more than 4 billio units by 2016 in the lighting market. Consumers are now realizing the long-term savings associated with LED light bulbs over competitive options such as halogen and compact fluorescent bulbs.
Lighting accounts for approximately 19 percent of the world's energy use at present, according to most studies. IMS Research forecasts that in 2016 about 15 percent of all lighting on the market will be based on
LED lighting technology, which would reduce global energy consumption of lighting by at least 20 percent.
