See this excellent artcile by Todd Wenning on the company's strengths and its 'moat'.
http://www.morningstar.co.uk/uk/news/114517/small-cap-in-focus-dialight.aspx
Found some general information on the LED market
extract:
"Sales of LEDs that outpace incandescent bulbs in North America are expected to soon completely eliminate incandescent bulbs. The LED lighting market is anticipated to grow 45% per year through 2019. The LED lighting market at $4.8 billion in 2012 is anticipated to go to $42 billion by 2019. The reason is the declining price points, the increased interest by the channel in pushing LEDs to consumers. LEDs provide the best lighting solution. The phase out of incandescent lights has begun, the onset of LED command of the market is upon us."
further down
"The key vendors dominating this space include Cree Inc., Dialight Lumens Inc., Dialight plc, Emerson Electric Co., and Koninklijke Philips Electronics N.V"
link
http://www.sys-con.com/node/2897912