LED lighting was a $400 million market in 2008, however, experts predicts that this market will see an impressive compound annual growth rate of 35%, which will cause the market to grow to $1,8 billion by the end of the forecasted period.

LEDs are now rapidly evolving to provide light sources for general illumination in households and businesses. Although LEDs currently cost five times more on average than incandescent bulbs, they consume 80% less energy and last nearly five times longer. Also, as mandated performance standards effectively phase out less efficient incandescent bulbs within five to 10 years, experts predict that LEDs will save American households over $280 billion in energy costs over the next 20 years, and that the technology will make up over 70% of the total lighting market by that time. Although South Africa is expected to be some years behind the curve, this trend is certain to be a global one.

Cree is leading the push toward large-scale LED lighting adoption, with its recessed LR4 and LR6 downlight fixtures, which produce the equivalent of a 65 W incandescent bulb while using only 12 W. The fixtures produce a clean pleasant light while maintaining highly effective brightness levels, which has helped the company win numerous 'industry best' awards.

While LED lighting is still generally too expensive for consumer sales, a number of industrial complexes, hotels, restaurants, hospitals and offices have begun to implement it due to the significant cost benefits. It is predicted that widespread implementation to residential and consumer markets will not occur until 2014 or 2015.