International. Its high cost compared to traditional bulbs has been a disadvantage and concern for the LED lighting industry; however, recent advances are helping to resolve this issue, to the point that by 2020 the price of LED lights is expected to be reduced by almost half.
According to a report published by the firm Lux Research, by 2020 LED bulbs are expected to have an average price of US $ 11. Likewise, the report explains that in the next decade the cost of the LED package, one of the main components of the luminaires, will fall by 70% to be close to US $ 2; thus representing 19% of the total cost of the bulb.
The authors of the study stressed the importance of innovating in technology to reach a price in LED lights more attractive to the market.
"It seems to us that the current balance of systems technology solutions is not up to the dramatic cost reductions needed and the existing alternative solutions are ineffective and uneconomical, representing an opportunity for technological innovation," said Pallavi Madakasira, an analyst at Lux Research.
