Technavio, a tech-focused market research firm, has published a new report on the global LED phosphor market, which is expected to grow at a CAGR of close to 20% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global LED phosphor market into the following key regions: the Americas, APAC, and EMEA.
Source: Technavio
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Top three contributors for the global LED phosphor market are elaborated below:
LED phosphor market in APAC: The growth of the LED phosphor market in APAC is attributable to the increasing adoption of LED lighting by people in the region as a result of high electricity costs. The APAC region is estimated to dominate the LED phosphor market throughout the forecast period by registering growth at a CAGR of around 22%. Promotion of energy-efficient lights, along with the presence of major LED chip and packaging factories in China, Japan, South Korea, and Taiwan, is expected to drive the LED phosphor market in this region.
According to Sunil Kumar Singh, a lead analyst at Technavio, specializing in research on lighting, “China held more than 20% of the global LED market share due to the presence of a large number of local LED vendors in the country. The growth of the market in this region is attributable to the high penetration of consumer electronic devices such as LEDs, LCD TV displays, and automotive parts, which make use of LED phosphor.”
LED phosphor market in Americas: Improved performance, along with the declining cost of LED is the fundamental driving force behind the growth of the LED phosphor market in the Americas. The US accounts for a majority of the revenue generated by the market in this region. Furthermore, lighting companies in the US are adding LED lighting business as their major business segment and increasing their product portfolio of LED lighting products, as these products are used in commercial, industrial, horticulture, marine, and other applications. Such developments are expected to translate to the growth of the LED phosphor market in the Americas during the forecast period.
LED phosphor market in EMEA:Automotive lighting is the major contributor to the growth of the LED phosphor market in this region. The use of LED lights will surpass the share of halogen and xenon lights in the automotive sector, which are mainly used in the headlamps of the vehicles. Moreover, Europe is experiencing high demand for LED lamps for commercial and architectural lighting applications. Industry analysts at Technavio anticipate the LED phosphor market in EMEA to account for a revenue of almost USD 377 million by 2021.
The leading vendors operating in the global LED phosphor market are:
- GE Lighting
- Lumileds
- OSRAM
- Cree
- Seoul Semiconductor
- Nichia
Other prominent vendors in the market include Broadcom, Bridgelux, CITIZEN ELECTRONICS, Dialight, Epistar, EVERLIGHT ELECTRONICS, Edison Opto, Intematix, NationStar, Stanley Electric, and Toshiba Lighting and Technology.
A more detailed analysis is available in the Technavio report titled, ‘Global LED Phosphor Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Vein Illumination Device Market 2017-2021
- Global Street Lighting Market 2017-2021
- Global High-Brightness LED Market 2017-2021
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