Light-emitting Diode (LED) - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Light-emitting Diode (LED) market is accounted for $38.83 billion in 2018 and is expected to reach $163.23 billion by 2027 growing at a CAGR of 17.3% during the forecast period. Some of the key factors propelling the market growth include increase in government focus on energy saving solutions, growth of smart lighting and high efficacy LED, increase in utility rebates, and growing display and large screen backlighting. However, high initial cost is restraining the market growth.
Light-emitting diodes (LED) are small, consume less energy, and are easy to maintain. They are commonly used as status indicators and displays on a lot of equipment. A few years ago, application of LED was limited to certain specific lighting needs and had not entered the mainstream general lighting applications. Entrance of LED in applications such as general lighting has given a strong thrust to the market. LED is expected to take over the conventional CFL and CCFL lighting market due to advanced features. Moreover, it is a cost effective solution for all lighting as well as other application purposes such as backlighting in mobile devices and large screen displays, automotive lighting and many others.
By technology, organic LED is projected to witness the significant growth, owing to high demand for cost effective and energy-saving OLED lighting, increasing government initiatives toward OLED adoption, and growth in display and large screen backlight. OLED is one of the most promising display and lighting technologies that has the capability of offering power efficiency lighting and is superior compared to the fluorescent tubes and incandescent bulbs. OLED technology helps the end user to create flexible display and lighting panels.
On the basis of geography, the APAC is expected to grow at a significant rate during the forecasted period, due to flourishing real estate industry, favourable government initiatives and increased funding for high efficiency lighting along with the continuous replacement of existing outdoor lighting. The Asia pacific region would go on to become a principal consumer of LED products and should become a major supplier for LED chips and packages, supplemented with the rising demand of product and components.
Some of the key players in Light-emitting Diode (LED) Market include LG Innotek, Dialight plc, Cree, Inc., General Electric Company, Samsung Electonics, Nichia Corporation, OSRAM Licht AG, Moritex Corporation, Broadcom Inc., Cooper Industries, Lumileds Holding B.V., Lumens Co., Ltd., Seoul Semiconductor, Mercedes-Benz (Germany), everylight electronics.
• Ultra Violet LED
• Basic LED
• Polymer LED
• High Brightness LED
• Organic LED
Product Types Covered:
• LED Fixtures
• LED Lamps
Device Configurations Covered:
• Surface-mounted LED
• Pinned LED
• Chip on Board LED
• Directly-inserted LED Lamp Beads
• Signal & Signage
• General Lighting
• Mobile Devices
• LED Display Industry
• Mobile Home Appliance
End Users Covered:
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2017, 2018, 2019, 2023 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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