Germany Trade & Invest, the economic development agency of the Federal Republic of Germany, has announced to attach more importance on LED technologies, with the aim of double digit annual growth through 2018.
 
Germany Trade & Invest experts, who will be at this year's LED/OLED Expo in South Korea from June 26 until June 29, have said that LED and OLED companies are well positioned for the next growth phase within the lighting industry.
 
Jonathan Schoo, electronics and micro technology expert at Germany Trade & Invest in Berlin, pointed out that, "The energy revolution in Germany is enabling many infrastructural upgrades. Several German cities have already begun testing LEDs in street lamps and in buildings. The German automobile industry is also exploring the advantages of LEDs, which could draw in valuable investments."
 
According to Frost & Sullivan, a market research company, the LED lamp industry in Germany is expected to produce a compound annual growth rate of 27 percent between 2008 and 2018. Many municipalities in Germany see 50 percent of total energy costs being devoted to lighting. Newly installed LED fixtures have the potential to bring down energy used in street lighting by 80 percent.
 
"There is a call for foreign investment to support increasing LED installations. Germany provides an excellent infrastructure and a skilled workforce for international companies interested in taking advantage of the recent energy shift in the country," concluded Schoo.