Writing on his Electronics Weekly blog, David Manners states that although "other technologies have had their year and made a hash of it", the technology will become more widely used over the next 12 months.
However, he points out that costs may be the only thing preventing the adoption of LEDs from really taking off.
Mr Manners says that they will always be more expensive than conventional lightbulbs because they are made from III-V materials and need an optical package.
They also require a heatsink, contain a mains power supply and cannot be made using fully automatic processes in the same way that other bulbs can.
One place where LED lighting will be used to great effect is the Times Square Ball, as Philips Lighting North America has revealed that it will be using the energy efficient products to illuminate this year's event, instead of the usual bulbs.
