The lighting industry arrived at a crossroads again. The progress in
solid state lighting based on light-emitting diode (LED) technology has been breathtaking during the past ten years. The introduction of LEDs as a light source was a revolutionary event in the history of electric lighting. LED technology redefines the basic economics in lighting and brings in unprecedented application diversity. It not only creates a compelling value proposition for the user, but also extends the value chain of the industry. While LED lighting holds enormous opportunities for both the industry and market, the complexity of technology imposes great challenges that have fundamentally altered competitive dynamics.
