London, 10 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the LED components market in Japan 2015-2019, which is expected to grow at a CAGR of 9.3% during the forecast period of 2014-2019.
Growing demand for LEDs, especially in the lighting segment propels the demand for LED components in Japan. The automotive and the industrial segments are the major segments that are expected to have a high demand for LED components during the next five years. Factors such as eco-friendliness, low power consumption, and high efficiency contribute towards the growth of this market in Japan. Also, the recent ban on incandescent light sources has led to the increased demand for LED components in this region.
“Vendors are developing the high-voltage LEDs that can be deployed in application areas such as automotive, mobile, and general lighting. The high-voltage LEDs are expected to be installed in large areas such as malls, airports, railway stations, and multiplexes leading to high-scale integration,” says Faisal Ghaus, Vice President of Technavio.
“UV LEDs will enable the LED panel manufacturers to deploy LED components based on the defined range by the customers. This will increase the flexibility, demand, and global availability of such components.”
Key Market Drivers:
- Government Support and Incentives for LED Projects.
- Long Life Span of LEDs.
- Focus on LED Standardization in Japan.
- Collaboration among Local and International Vendors.
Key Market Trends:
- Increasing Efficiency.
- Development of UV LEDs.
- Need for Energy-efficient Lighting Solutions.
Key Market Vendors:
- Epistar Corp.
- Everlight Electronics Corp.
- Huga Optotech Inc.
- Lite-On Optoelectronics
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
