LEDs have numerous advantages over traditional lighting systems, including high efficacy and low power consumption, instant start and restart and a long lifespan of approximately 50,000 hours. LEDs are also resistant to shock and vibration, as there is no glass or filament to break, and so there are nearly no early installation failures.
LEDs also have some disadvantages, including their heat sensitivity and higher initial cost compared to conventional lighting technologies. The cost-saving feature of LEDs is found in long-term savings through reduced energy bills.
LEDs also typically cast light in one direction, so lenses or reflectors are needed to broaden the light output. This can be seen as an advantage if you are trying to light a specific area, and a disadvantage when trying to light a general area.