According to Technavio’s latest market research study, the global high brightness LED market is expected to grow at a CAGR of more than 7% during the forecast period, 2017-2021.
This report by Technavio provides an in-depth analysis of the global high brightness LED market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
Technavio research analysts categorize the market based on the application type
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The top three revenue contributing product segments are discussed below
Global HB LED market by the consumer electronics segment: The HB LED market in the consumer electronics segment is projected to grow at a CAGR of almost 6% during the forecast period. The majority of TVs in the market are LED backlit, and the contribution for HB LEDs in TVs and mobile devices is dominant. The major reason for the declining share of HB LEDs in the consumer electronics is the increasing adoption of OLED technology in applications such as smartphones and TVs.
“OLEDs offer high-quality picture content along with a thin frame. Many HB LED companies are facing challenges in the market due to price wars and an oversupply of HB LED chips from the Chinese market. As a result, many companies are shifting from the traditional LEDs to OLED technology,” says Sunil Kumar Singh, a lead analyst at Technavio for research on lighting.
Global HB LED market by the general lighting segment: The rising demand for downlights, replacement lamps, outdoor lights, commercial, and industrial lighting products is anticipated to drive the growth of the global HB LED market by the general lighting segment over the next four years. The decrease in the ASP of HB LED light bulbs and the adoption of environment-friendly lighting solutions are also factors that are likely to favor market growth.
Global HB LED market by the automotive segment: The automotive market is experiencing an increase in the use of HB LED lights for both interior and exterior areas. The HB LED lighting system is the fastest-growing lighting technology in the automotive sector. The global HB LED market by the automotive segment is expected to post growth at a CAGR of around 8% until 2021.
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The top vendors operating in the global high brightness LED market are:
- Cree
- GE Lighting
- LG Innotek
- Lumileds
- Nichia
- OSRAM
- Samsung Electronics
- Seoul Semiconductor
Other prominent vendors in the market include Dialight, Eaton, Emerson Electric, Lite-On, M.L.S Electronics, TOSHIBA Lighting & Technology, and TOYODA GOSEI.
A more detailed analysis is available in the Technavio report titled, ‘Global High Brightness LED Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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