Global LED lighting market growing but slowed by key limitation

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“Although LEDs have key advantages over traditional lighting technologies — such as efficiency, diversity of colors, quick on/off time, frequent on/off cycling, long lifetime, and shock resistance — P&S Market Research points to several limitations.

“Thermal properties, voltage sensitivity, efficiency droop, expensive production, and costly maintenance are hindering their market growth,” the analysis says. “The development of alternate technologies along with lack of awareness related to installation costs and payback periods are the other major factors.””

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