As the LED bulbs of modern technology has come to the scene, the CFL and incandescent bulbs have apparently lost their market. Here’s a comparative look at three alternatives.
According to a recent analysis of LED Inside, the market of LED lighting solution is expected to grow in leaps and bounds in the next few years. Statistics reveal that the LED market scale has increased by 14% in this year compared to 2016 and the scenario makes it quite obvious that the same will increase massively in the future. With LED lighting technology gradually taking hold, the prices of LED lights are also expected to drop gradually. It’s been expected that by 2020, the estimated market size is going to surpass USD 1 billion.
Present State of the LED Market Solution
Recent statistical data clearly supports the pivotal position of LED technology in the global lighting market. Over the past few years, it’s being monitored on a regular basis that the usage of LED light in the residential architectural and outdoor setting has increased considerably. However, outdoor LED lighting is gaining a quick popularity compared to the others.
LED has been in the market for long. However, in a developing economy such as that of India, the use of LED lights by the general population is yet to become a popular trend. The Government has stepped up for the task with the latest project aiming towards changing 77 crores light bulbs and 3.5 crores conventional street lights and replacing them with the LED lights.
The mammoth LED task
The plan to change conventional lights with LED is no doubt a welcoming effort. However, given the expanse of the country and the huge population, there is no doubt that this is going to be one mammoth task in front of the Government. The challenge is quite steep, especially with LED lights still costing at least about 10 times that of the conventional lights. It will need proper planning and effective execution to make this a reality and to meet the target by March, 2019.