LED lights set to brighten the market
The LED lighting market is and will continue to grow rapidly in the coming years, according to manufacturers Osram.
According to the company's chief executive Martin Goetzeler an average LED bulb will give 25,000 hours of light compared to 10,000 from an average energy saving light bulb - making it two and half time more effective.
Mr Goetzeler said: "If every London borough was to switch to LED street lighting it would create a saving of 33,000kW.
"The market for LEDs is currently worth 4.6bn euros and will be worth 12.6bn euros by 2021."
Mr Goetzeler also dropped some hints about his firm's work on the next generation of 'organic' light-emitting diodes (OLEDs).
Although, he would not be drawn on the potential cost, he believes the quality of white light is a good as current incandescent bulbs.
"But, with power efficiencies 'considerably' better than fluorescent lighting."
He also pointed out if you've not heard of Osram you've certainly seen their work as '50% of cars in the UK' are fitted with their lights.
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