LED bulbs are electric lamps that produce light through light emitting diodes and are used in lighting fixtures. These contain a cluster of LEDs, which are mounted on a single base and are packed in diffuser lenses in order to spread light across a defined space. LED bulbs produce light approximately 90% more efficiently than incandescent bulbs. These bulbs are based on solid-state lighting, which emits the light from semiconductor chip, thereby generating lesser heat than incandescent bulbs. The useful life of these lamps is defined differently than other light sources such as compact fluorescent light (CFL) or incandescent bulbs. LED bulbs do not fail or burn out, instead they face lumen depreciation in which the brightness of the bulb decreases over time. The global LED bulbs market is expected to expand at a significant growth rate owing to the strict regulation norms regarding the banning of inefficient light bulbs. In some regions, governments have passed laws that restrict the...