An industry based survey on the growth of the LED market and industry conducted by Cree in 2008 has provided that the use of the LED technology is forecasted to increase and be incorporated for more commercial and residential usage. The respondents of the survey provided that 72 percent were in agreement that they have been observing growth in the usage of LED lighting (Murray, 2009). Moreover the respondents in the survey also provided that they see the LED lighting technology increasing in sales and installations in the year 2009 (Murray, 2009).
The different applications that were highlighted through the survey for extensively employing LED lighting include car parks, street lighting, retail store lighting, display lighting as well as office and residential lighting,. The majority of the LED lighting however, 20 percent is used for lighting car parks and street lights (Murray, 2009).
The LEDs Magazine a technology based publication highlighted that the use of LED lighting has been significantly increasing and will continue to increase based on the benefits and advantages that the technology provides to the users. The technology is non toxic, safe, small, convenient, robust as well as easy to use, while being energy efficient as well as highly productive which increases the appeal of the technology for users. The article provides that the “largest application in 2012, with 44% of the market, will be signs & displays, including backlighting for large LCD screens (monitors and TVs).