The study by Lux Research, an independent advisory firm offering intelligences for companies involved in emerging technologies, found that luminaires represented that best way for business premises to reduce power usage.
According to the document, lighting accounts for 20 per cent of the electricity consumed in such facilities and LEDs are seen as a one way of helping to reduce the amount of energy by 60 per cent, according to senior analyst Michael LoCascio.
He said: "With the potential cost savings that new technologies like LEDs afford, advanced building illumination is on track for rapid and sizeable adoption, which spells opportunities across markets."
Furthermore, Lux has predicted that diode-based solid-state luminaires will expand significantly in 2014 and account for three-fifths of the products used by commercial properties as well as 42 per cent of residential dwellings.
