Industry experts are claiming that the light bulb as we know it today could soon be obsolete. Breakthrough LED (Light Emitting Diode) technology is set to take over.
LEDs have been around since the 60s but were only available in red, amber and green. Blue LEDs were invented in 1993 and scientists have been working towards combining the primary colors to make useful bright white light.
Although technology is not quite in place to replace regular bulbs with LEDs, such technology is not far away. The result will be high quality durable lights that are far more energy efficient than bulbs and will last 6-10 years. Source