Toshiba Lightech says that the global LED lighting CAGR from 2010-2020 is expected to reach 31% while its Japan LED lighting market is expected to account for 40% of the global market, thanks to rapid decreases in price and market growth in Europe, the US, and China
 
According to president and CEO of Toshiba Lightech, Tooru Shibuya, the firm introduced LED light bulbs in 2009, and in 2011, the LED light bulb market output in Japan exceeded 30 million units causing rapid price falls. In 2012, LED light bulb retail prices fell below JPY2,000/unit (US$22/unit). LED lighting penetration rate is expected to reach close to 60% in 2015.