LEDs will increasingly come to replace traditional bulbs in both homes and businesses over the next couple of years, it has been suggested.

At present, consumers and businesses around the world are opting to replace energy-inefficient incandescent bulbs with compact fluorescent lights despite the fact that these can cost up to ten times as much.

However, according to a new report in the Vancouver Sun, LED manufacturers could soon be cashing in as this type of lighting becomes an increasingly-popular 'third way', particularly as the cost and energy-effectiveness of this type of technology becomes apparent to buyers.

"LED lights are beginning to emerge as the favourite choice for people purchasing new lighting systems, rather than just replacing burnt-out bulbs," the report noted, explaining that, under normal use, LED lights can last for 25 years or more.

Furthermore, citing electronics industry experts across Canada, the paper also predicts that the 'high-tech cousin' of the LED light, the OLED (organic light emitting diode) could soon cement its reputation as being the "lighting technology of the future".

Rapid Electronics is a leading UK supplier of energy saving products, electronic components and electrical equipment.