An LED lamp is a light-emitting diode (LED) product that is assembled into a lamp (or light bulb) for use in lighting fixtures. LED lamps have a lifespan and electrical efficiency that is several times better than incandescent lamps, and significantly better than most fluorescent lamps, with some chips able to emit more than 100 lumens per watt. The LED lamp market is projected to grow more than 12-fold over the next decade, from $2 billion today to $25 billion in 2023, which is a compound annual growth rate (CAGR) of 25%.

Like incandescent lamps and unlike most fluorescent lamps (e.g. tubes and CFL), LED lights come to full brightness without need for a warm-up time; the life of fluorescent lighting is also reduced by frequent switching on and off.Initial cost of LED is usually higher. Degradation of LED dye and packaging materials reduces light output to some extent over time.