LEDs 'set to boom'
The LED industry is set to see a strong 2009 despite the overall slump in the global economy, it has been claimed.
Figures from industry analysts iSuppli have revealed that the LED market will outstrip that of the overall chip industry, as demand for the lights continues to grow.
LEDs are being used in a wide variety of technologies, with LED signs becoming increasingly common, along with their use as backlights in television and computer screens and even mobile devices.
That demand will see LED revenue increase from $7.1 billion (Â£4.9 billion) in 2008 to $7.3 billion over the coming year, iSuppli predicted.
The company also pointed out that increase would be following an impressive ten per cent growth in the LED market during 2008, despite the economic crisis hitting demand for most goods.
Backlights in television screens would drive the market for LEDs, said iSuppli, but the growing interest in LED signs would also help. In London, for example, LED screens were recently erected in a prime location near the Westfield shopping centre in Shepherds Bush.