Osram’s latest 2013 financial report revealed LED sales had a 29 percent revenue share, however, the German company projected the figure will “exceed 50 percent” by 2017.

  The LED market is growing with LED lighting applications expanding. LED lighting has grown from 22 percent in 2012 to 26 percent in 2013, according to Kuo, and is expected to grow further in 2014 to 30 percent. The market has benefited a lot by the introduction into smartphones by companies such as Samsung and LG. Smartphone applications surpassed feature phones in 2Q13 and have continued to dominate.

GE Lighting recently published in a blog entry Gary Allen, Principal Engineer and Physicist at GE Lighting’s views on future LED lighting trends. Though the upfront costs are currently high, the future of LED light bulbs is bright. Gary Allen of GE Lighting notes the trend of falling costs per lumen—and what that means for the accessibility of the LED bulb.

Light is at the heart of our communities, our technological advances and our sustainable world. Speeding up this new age of digital light will unlock even greater health, well being, sustainability and economic benefits for society as a whole. This is the conclusion of an independent report - ‘The Future of Light’ – published today by think tank PSFK Labs and supported by Philips. The report is available on www.psfk.com, and accessible as a SlideShare slide show and as an iOS or Android app.