Recent times have seen an increase in the use of products such as cell phones, computers and televisions which include Light Emitting Diodes as basic components. The reliance of human beings on electronic appliances and technology based products has increased at a phenomenal rate in recent times. The use of Light Emitting Diodes is expected to grow at a similar pace of electronic items in the future as more and more companies manufacture products with electronic components.
The shortage of traditional energy from fossil fuels has paved the way for research in alternative energy sources and products which consume less energy and are energy efficient. Many products, buildings and mega projects are being designed with the efficient consumption of electricity in mind. One of the innovative breakthroughs in this area has been the use of Light Emitting Diodes in place of traditional tungsten based bulbs and lamps. Bulbs and lamps based on Light Emitting Diode technology are much more energy efficient and have a longer life than usual bulbs and lamps used in offices, hospitals, street-lights and buildings complexes. The use of Light Emitting Diodes in alternate energy products such as Light Emitting Diode lamps, bulbs and torches has also increased the level of demand for Light Emitting Diodes and this use is expected to grow at a considerable rate in the future. The growth in use of Light Emitting Diodes in the target markets of Europe and Asia are phenomenal as manufacturing companies located in countries of these regions produce more technology based products which use state of the art high-tech components in their products. Cellular phones and televisions manufactured using the organic Light Emitting Diode technologies are mostly based in European and Asian countries. The trends discussed in the earlier section are expected to increase in future years as more and more high-tech products are introduced in the market. This expected increase in use of Light Emitting Diodes makes the manufacturing of these products more attractive for new entrants.
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