As in other industries that have been derailed by disruptive technology, the “LED revolution” is forcing the lighting industry to redefine itself. Many lamp and luminaire players are realigning their strategies, deciding how and when to adopt the new and innovative LED technology. LED manufacturers, who historically have been used to a component business based on shipping large volumes of through-hole LEDs, are also thinking about their coverage along the value-chain and whether there are any strategic plays they can exploit by becoming more integrated or focusing on specialty lighting applications. Given that optoelectronics is one of the fastest-growing semiconductor segments, traditional semiconductor players are also looking for potential opportunities to enter the LED business.