The global market for LED luminaires is set to grow from $3.8 billion in 2010 to $8.3 billion by 2014, according to new data.
Strategies Unlimited's LED Luminaires, Market Analysis & Forecast observed that improvements in performance and price of commercially available high brightness LED packages and heightened awareness about energy efficiency helped create conditions for adoption of white light application of LED technology.
"Quality issues that affected the market penetration of previous energy efficient lighting technologies continue to affect this market but the resolve to reduce energy consumption is likely to propel this technology to be widely commercialized and adopted by the market," Strategies Unlimited said.
Meanwhile, an American firm, which makes photodetectors as well as visible and infrared light-emitting diodes, has launched the OD-624L high-output red LED, Semiconductor Today reported.
It is, in fact, the second product to be introduced in Opto Diode's high-output LED series.
The new product boasts a dominant emission wavelength at 624nm (typical).
It also features a narrow beam angle that suits fluorescence in medical, scientific testing instruments, and forensic applications.