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How Popular are LED Lights?
As featured on LEDLights.co.uk by Chris Angus
Are They a Safe Investment?
Statistical reports demonstrating LED penetration of the lighting market, between 2010 and 2020, show that that LEDs had obtained a market penetration rate of around 11% in the lighting market in 2014. By 2015 LED penetration had reached 18% while the forecast for next year indicates that penetration will grow to 26%, an increase of 8% from this year. Year-on-year penetration is expected to rise at a rate of 9% between 2016 and 2020, taking it to a 61% penetration rate by 2020. Is it the most revolutionary technology of our time? Why This Sudden Increase in LED Technology?
Do More With Less
LED bulbs use only a fraction of the electricity used by traditional bulbs- approximately a fifth of the electricity used by incandescent bulbs. They are the highest performing and most energy efficient bulbs in the world today. From a home owner’s point of view, having LED bulbs is zero maintenance because if you buy the best quality you’ll only need to change that bulb once every 30 years (that’s assuming you stay in the same house).
Lighting Up the LED Market
The growth and popularity of LEDs has really opened up the market, putting some of the older light bulb manufacturers under pressure, owing to their technology and ability to compete on price. The surge in interest in LEDs has also resulted in the growth of LED specific light bulb manufacturers. The penetration is quite phenomenal- going from 0,3% in 2010 to a projected 61% by 2020. Globally, the heat is on, in terms of reducing carbon emissions and governments phasing out old-fashioned bulbs, giving consumers no option to make the switch in many cases. One of the driving factors that has accelerated LED popularity and demand has been the use of LEDs screens in smart phones and televisions. This, in itself, has been a whole new market outside of light bulbs, where LED technology has made a significant impact. Historically, the high initial cost of purchasing LED bulbs was restrictive to the growth of the market, but over the years, the prices have fallen down, while the technology has improved, making LEDs more accessible and affordable for the masses. We’re still seeing these improvements coming through today so we may just eclipse that projection for 2020 at this rate. How can you get more value for money when you buy LEDs? It’s true that the market was flooded with lower quality product when LEDs became a buzzword and some consumers did get their fingers burnt initially. Research the company you want to buy from. Check out their history and how long they’ve been in business for. Do they have a customer support line and resources to help you choose the best products for your home? Today you can seek out guarantees and warranties to ensure you get the best product and customer service. You don’t have to go low quality to get good prices either. The market is so competitive that you can still get the best products for less if you shop around. For help and advice, as well as the biggest LED bulb selection visit www.ledlights.co.uk.