The global lighting market has been undergoing a radical transformation driven by the massively growing adoption of light emitting diode (LED) technology. This solid state lighting (SSL) revolution fundamentally altered the underlying economics of the market and dynamics of the industry. Not only different forms of productivity were enabled by SSL technology, the transition from conventional technologies towards LED lighting is profoundly changing the way people think about lighting as well. Conventional lighting technologies were designed primarily for addressing the visual needs. With LED lighting, the positive stimulation of biological effects of light on people’s health and well-being is drawing increasing attention. The advent of LED technology also paved the way for the convergence between lighting and the Internet of Things (IoT), which opens up a whole new world of possibilities. Early on, there has been a great deal of confusion about LED lighting. High market growth and huge consumer interest create a pressing need to clear the doubts surrounding the technology and to inform the public of its advantages and disadvantages.