Taipei, July 3 (CNA) The global market penetration rate of light-emitting diode (LED) lighting will rise in 2013 as LED technology improves and consumers grow more aware of the product, according to a market information advisory firm.
The LED lighting penetration rate will reach 25.7 percent in 2013, up from 23.7 percent last year, LEDinside said in a recent research note.
"LED lighting is in the process of replacing conventional lighting in the minds of consumers," the note said.
The steady decrease in the average price of global LED light bulbs will also help boost the penetration rate, the firm noted.
The average selling price of LED light bulbs that can replace standard 40-watt bulbs declined 1 percent month-on-month in May to US$16, while that of 60W-equivalent LED bulbs dropped 0.1 percent to US$23.80, according to LEDinside.
Steady growth in the LED home lighting market has also prompted many lighting manufacturers, especially first-tier international brands, to expand their LED distribution network and increase the weight of LED items in their overall lighting product mix, LEDinside said.
(By James Lee)