According to market research firm SBI (Specialists in Business Information), the global market for LEDs and OLEDs now exceeds $5 billion, while the United States has a market value of $1 billion. This is a full growth of more than 50% compared to 2007. SBI further estimates that the global LED and OLED market will reach $14 billion in 2013, while the US will reach a market size of $3 billion.
Why LED and OLED technology can be one of the best growth potentials in the future? Because the global current efforts in the green energy industry are more than ever. This is due to the continuous price increase of oil and other resources in the first half of 2008, and the impact of global climate change on humans.
LEDs are also more efficient at converting energy than traditional incandescent lamps. In general, led conversion efficiency is 80%, while incandescent lamps are only 20%. For example, traffic signs using led can reduce energy use by 92% compared to traffic signs using incandescent lights.
In the long run, the growing number of LED or OLED applications will eliminate the need to build too many power plants in many parts of the world, even as the global population grows and the demand for electricity increases. Because led and OLED will be able to reduce the electricity consumption of everyone and even users, once the popularity of LED lighting is higher, existing power plants are sufficient to meet demand.
However, SBI also warns that even with the benefits of LEDs and OLEDs, the cost reduction will take time.
Therefore, one of the keys to hinder the popularity of LEDs and OLEDs is the cost. Once the price drops rapidly, perhaps the market size of LED and OLED will be larger and more popular.
Taiwan is now actively working to create the LED market. The Energy Bureau of the Ministry of Economic Affairs has budgeted NT$200-300 million. After the LED streetlight standard is set, the LED street lamp replacement plan will be launched. According to LEDinside estimates, Taiwan's LED overall market will have a business opportunity of 40-500 billion yuan.
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