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› Forums › General › News (General) › Business Setup for LED Lighting Assembly
Tagged: BizDev_G2, Commercial_V2, SmartCity_V5b
The LED lamp market will grow at 25 per cent annually to reach $25 billion in 2023. Hence LED light manufacturing is a profitable investment opportunity for entrepreneurs
Light-emitting diodes (LEDs) are semiconductor devices that emit visible light when electric
current passes through them. Compared to conventional lighting systems, these are smaller, have a longer o
perating life and involve a lower cost of ownership. Available in a wide range of colours, LED light bulbs are more durable and offer comparable or better light quality than other types of lighting.
Residential LED lights, especially Energy Star rated products, consume at least 75 per cent less energy and last 25 times longer than incandescent lights. These also use significantly less power—a typical 84-watt fluorescent light can be replaced with a 36-watt LED to give the same level of light output.
The LED lamp market is projected to grow at 25 per cent annually to reach $25 billion in 2023. Hence LED light manufacturing is a profitable investment opportunity for entrepreneurs.
Full-scale LED light manufacturing requires setting up of a large-scale factory with a complex production process. However, it is possible for small-scale entrepreneurs to set up LED light assembly units as a small- or medium-scale manufacturing operation.