Industry Overview
The 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”,
by Global Market Insights, Inc. says High brightness LED market size is projected to be valued at USD 22.46
billion by 2023;
driven by growing consumption across application areas.
High
brightness LED market has established its bearings significantly in today’s
world, with LEDs gaining precedence over CFLs. Depleting energy resources and
increasing carbon emissions have directed the demand for energy conservation to
top the priority lists in all sectors. The government and regulatory bodies
across the globe are strictly implementing energy conservation norms, which in
turn is triggering heavy deployment of energy saving lighting sources.
An
ordinary light bulb transforms 100 Joules of electric energy into 5 J of light
energy and 95 J of heat energy, in which case, the latter is a complete waste.
In comparison, the energy saving light bulb saves 50% to 70% of energy and
increases the life span of the device, which is in the range of 50,000 hours to
100,000 hours, thus offering huge potential. The extended life cycle of these
bulbs leads to lower replacement and maintenance costs, which in turn is
driving high brightness LED market size.
These
popular high brightness LED technologies are already commercially available in
a range of new products in the automotive, backlight, mobile, and lighting
applications. Increasing smartphone penetration and demand for related mobile
devices have led the mobile segment in high brightness LED industry to
snowball. The mobile segment is foreseen to exceed USD 3.60 billion by 2023,
increasing at an annual growth rate of 5.1% over the period of 2016-2023.
Rise
in sales due to swift penetration of HB LEDs in downlights, replacement lamps,
outdoor lights, commercial, and industrial products is likely to propel the
lighting application market to register a CAGR of 6% between 2016-2023. High
brightness LED industry from the lighting application is estimated to generate
a revenue share of over USD 7.4 billion by 2023.
Absence
of infrared radiation in HB LEDs is resulting into its growing application for
food and textile illumination, thereby showcasing a positive swing in global
high brightness LED industry dynamics.
Growing
concerns regarding energy saving and rising number of initiatives toward
increasing green construction are expected to provide ample growth prospects in
the regional landscape of high brightness LED industry. Asia Pacific high
brightness LED market is projected to register a CAGR of 5.5% over the period
of 2016-2023. China and Japan are the prominent countries which are actively seeking
a fundamental shift in their energy policies by encouraging improved LED
manufacturing, attractive initiatives, and huge financial subsidies.
Europe high brightness LED market is poised to
witness an exponential growth at a rate of 4.4% from 2016-2023, due to the vast
presence of industries in the region.
Analyzing the opportunistic growth in the
global high brightness LED industry, number of players are entering in the
marketplace. These players are likely to offer end-to-end solutions to gain
competitive advantages. The existing players will be focusing on their brand
value for strengthening the prominence overseas. Several other players are
working on reforming their business models to achieve a gradual decline in the
price trend, which will lead to a brighter future for this industry. Prominent
high brightness LED industry players include Samsung Electronics, Cree,
Broadcom, Moritex, and Seoul Semiconductor.
Report Content
Chapter 1 Methodology and Scope
1.1 Research
Methodology
1.1.1 Initial data
exploration
1.1.2 Statistical
modeling and forecast
1.1.3 Industry
insights and validation
1.2 Data Sources
2.1 HB LED industry
3600 synopsis, 2012 - 2023
3.1 Industry
segmentation
3.2 Industry size and
forecast, 2012 - 2023
3.3 Industry ecosystem
analysis
3.3.1 Vendor landscape
3.4 HB LED market
dynamics
3.4.1 Growth drivers
3.4.1.1 Positive regulatory
outlook
3.4.1.2 High replacement demand
3.4.1.3 Growing consumption across
application areas
3.4.2 Industry
pitfalls & challenges
3.4.2.1 Cost concerns
3.5 Growth potential
analysis
3.6 Porter’s analysis
3.7 Key competitor
analysis, 2015
3.8 PESTEL analysis
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware,
U.S., is a global market research and consulting service provider; offering
syndicated and custom research reports along with growth consulting services.
Our business intelligence and industry research reports offer clients with
penetrative insights and actionable market data specially designed and
presented to aid strategic decision making. These exhaustive reports are
designed via a proprietary research methodology and are available for key
industries such as chemicals, advanced materials, technology, renewable energy
and biotechnology.
Contact
Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:
1-302-846-7766
Toll
Free: 1-888-689-0688
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