Overview
Global High Brightness (HB) LED Market
size was evaluated at more than $ 15 billion for 2015 and is predictedto surpass
revenue of $22 billion by end of 2023 at CAGR of 4.9%.Growing government focus
on power conservation is predicted to drive expansion of the industry in
future.Increasing use of high brightness LED bulbs in heat responsive
applications like food illumination and textile due to infrared radiation
absence is predicted to promote the industry growth during forecast timeframe.
U.S. high brightness (HB) LED market size, by application, 2012-2023 (USD Billion)
These high brightness LED (light emitting
diode) bulbs offer enhanced efficacy in comparison to other kinds of bulbs. These
equipments are strong and are predicted to have greater lifespan as compared to
traditional incandescent bulbs with life time range of 50,000 hours to 100,000
hours. LED technology is one of the effective light sources and helps in 50 to
70 percent of power savings as compared to conventional technologies. It also
helps in reducing carbon emissions and thus propels the demand & growth of
the industry during forecast timeframe.
High life span of the LED bulbs is predicted
to minimize maintenance and replacement costs. This factor drives installation
of these equipments at comparatively inaccessible locations. Producers are now
concentrating on low global high brightness (HB) LED market cost strategy to
fuel the demand for bulbs in future.
But high cost per lumen and highinitial price
is predicted to hinder the acceptance across the sector. High price is owing to
comparative low lumen power production supply. Cool white LED (light emitting
diode) bulbs emit extra blue light as compared to traditional sources of light
like sodium bulbs. This light causes pollution which can be a serious threat to
environment in future. All these factors can inhibit the growth of industry.
Read full market research report “High Brightness
(HB) LED Market Size By Application (Backlight TV/monitor, Mobile, Sign (Signal
Devices & Advertising Panels), Lighting, Automotive), Industry Analysis
Report, Regional Outlook (U.S., China, Japan, South Korea), Application
Potential, Price Trends, Competitive Market Share & Forecast, 2012 – 2023”, please
click on the link below:
Application Overview
The industry is segmented into lightning
application and mobile application. Lightning application is predicted to surpass
$7.4 billion by registering CAGR of about 6% during forecast timeframe. The expansion
can be credited to rising customer confidence and constant rise in down light sales,
replacement bulb sales and sale of industrial & commercial items.
Mobile application is predicted to touch $3.61
billion by end of 2023 and register a CAGR of 5.1% during forecast timeframe. Growing
acceptance of mobile equipments is predicted to fuel the demand of LED bulbs in
future.
Regional Overview
APAC, with China & India,
high brightness (HB) LEDmarket was evaluated at more than $7 billion for 2015
and is predicted to register CAGR of 5.51% during forecast timeframe. Many
countries in APAC like Japan and China have taken initiatives for power
conservation by making use of LED technology. For example, China is promoting
use of LED technology by offering incentive and discounts. It is also assisting
the local LED manufacturing firms to enhance their production capacity.
Europe high brightness (HB) LED market share
is predicted to display substantial expansion due to presence of many key
industry players in the region. It is predicted to register CAGR of 4.4% during
forecast period.
Competitive Trends
Key industry players profiled in the report
include Samsung Electronics Company Limited, Cree Information, Moritex
Corporation, OSRAM GmbH, Nichia Corporation, Sharp Corporation, Kingbright
Electronic Company Limited, Seoul Semiconductor Company Limited and Broadcom
Limited.
Information Source: Global Market Insights, Inc
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