A new report from Pike Research forecasts that LEDs will capture 52% of the commercial lighting market by 2021. Pike, a cleantech market intelligence firm, anticipates that LED lighting costs for various SSL products will be reduced by 80% to 90% in many cases during the next decade.
For many years, light-emitting diodes (LED) were primarily known for their use in alarm clocks, flashlights and automobile taillights, but these bulbs offer more benefits than their small size and versatility.