Global LED Market Will Rise at CAGR of 15% by 2020: MarketResearchReports.biz
LED lights are rapidly gaining traction among consumers due to their multiple benefits. They are preferred over other lights such as incandescent lights and compact fluorescent lights (CFLs), because of their energy efficiency. LEDs consume up to 75% less energy than other bulbs and have longer lifespans 60,000 hours compared to 1,500 hours from incandescent bulbs and 8,000 hours from CFLs. LEDs are also known as green lighting systems because of their energy-efficient features.
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