Frost & Sullivan estimates that the global LED lighting market grew 35 per cent to $32.3bn (£20.6bn) last year, and will more than double to $70bn by 2019. That means LED as a proportion of the total lighting market is set to near 50 per cent by the end of 2015 and reach 84 per cent by 2020.
That's great news for the likes of Carclo (CAR), Dialight (DIA) and FW Thorpe (TFW), each of which are at the forefront of the technology driving these more energy efficient products.
