In the lighting sector, LEDinside estimates the global LED lighting market value will reach US $17.8 billion by 2014, while total LED lighting shipment volume is at 1.32 billion. Philips estimated the global LED lighting market value will reach between EUR 70 billion (US $90.55 billion) to EUR 80 billion, and acquire a 45 percent to 50 percent market share in the lighting industry by 2016.
Back in 2010, LED lighting products had a mere market share of 0.16 percent out of the 8.6 billion lighting products in China. The LED lighting industry has soared as product prices declined. Top brands 3.5W LED bulb retail price are now very close to CFL prices, and sell on average below US $20.
Accompanying technological advancements, LED bulbs have evolved from offering simple lighting features to intelligent lighting devices. Besides using smart controls to turn on and off lights, smart lighting are also an interactive hub that can add value to the product to include fitness management, GPS, targeted advertisement in retail sectors and proffer many other personal services.

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