Lighting applications are getting better

The market research organization Strategies Unlimited pointed out that thanks to the increase in sales of light-emitting diode (LED) bulbs and lamps, the output value of LED components in the lighting application market in 2011 has increased from US$1.2 billion in 2010 to US$1.8 billion. It is estimated that it will increase to US$3.3 billion by 2016; the compound annual growth rate (CAGR) from 2011 to 2016 will be as high as 13%.