With LED lighting applications reaching maturity, many countries have begun replacing existing street lights with LEDs. Space for development of LEDs is quite large as global penetration rate has not reached 5 percent yet, said Andy Liao, CEO of Leotek Electronics.

LED street light specialists, LeoTek, attended the Taiwan International Lighting Show (TILS) held on March 20 to 23 this year. The company began developing the Middle Eastern, Southeast Asian, and European markets last year and anticipates shipment volumes for these regions plus the North American market to increase 45 percent from 2013. 

Leotek secured LED street light bids last year in five cities in North America, bumping up their revenue by 55 percent. The company has now begun expanding the European, Southeast Asia, and Middle Eastern market. Continued growth of the North American market in 2014 as well as new market development, will drive up growth 45 percent. In April and June of this year, the company will launch new generation street light products.