Lights are definitely playing a pivotal role in our living spaces. More often than not, lights accentuate the curves and lines of our intricately designed homes. For LED lights; they are small, bright, emits little heat and consumes low energy - No wonder they are replacing CFLs as the main light source in homes. Example will be with LED strips - light becomes flexible and follows your design.
Referring to the article dated 23/11/12 on The Business Times, titled 'Seeing The Light', it describes the changing perception in us on lights. Do have a read of it to see what the experts have to say too.