Philips (PHG), which is a big global player in the led lighting segment, believes the LED light source market will expand to over $15 billion and the led lighting device market to over $40 billion by 2015, representing half of the global lighting market.  They see LED lighting accounting for 75% of the global lighting market by 2020.

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The company indicated it will allocate 75% of its lighting R&D budget to LED lighting solutions this year, up from 65% last year and 57% the year before.  Much of the global growth in LED is expected to come from Asia and other emerging markets which currently represents nearly 40% of its lighting business.  Overall, with growth driven by LED demand, Philips posted year over year growth in its lighting business for Q4 of 37%.