An LED lamp is a light-emitting diode (LED) product that is assembled into a lamp (or light bulb) for use in lighting fixtures. LED lamps have a lifespan and electrical efficiency that is several times better than incandescent lamps, and significantly better than most fluorescent lamps, with some chips able to emit more than 100 lumens per watt. The LED lamp market is projected to grow by more than twelve-fold over the next decade, from $2 billion in the beginning of 2014 to $25 billion in 2023, a compound annual growth rate (CAGR) of 25%.
Like incandescent lamps and unlike most fluorescent lamps (e.g. tubes and compact fluorescent lamps or CFLs), LEDs come to full brightness without need for a warm-up time; the life of fluorescent lighting is also reduced by frequent switching on and off. Initial cost of LED is usually higher. Degradation of LED dye and packaging materials reduces light output to some extent over time.
are made to be a directly compatible drop-in replacement for incandescent or fluorescent lamps. An LED lamp packaging may show the lumen output, power consumption in watts, color temperature in kelvins or description (e.g. “warm white”), operating temperature range, and sometimes the equivalent wattage of an incandescent lamp of similar luminous output.