This market research report presents a comprehensive analysis of the global light-emitting diode (LED) market by application (general lighting, backlighting, automotive lighting, and others) and by geography (Americas, APAC, and EMEA). Leading vendors in the market are Cree, GE Lighting, LG Innotek, Lumileds, Nichia, OSRAM, Samsung Electronics, and Seoul Semiconductor.
Technavio’s market research analysts estimate the global LED market to grow at a CAGR of almost 17% between 2016 and 2020. The need for low electricity consumption and green technology are the primary drivers for the market. Government subsidies and projects in an attemptto promote the use of LED lights and increased infrastructure development due to urbanization are some of the factors that are expected to propel the growth of the market during the forecast period. At present, the APAC region dominates the global LED market by accounting for over 43% of the overall market share. The high rate of construction in many Asian countries, government incentives in countries such as India and China to promote energy-efficient lights, and the presence of a large number of LED chip and package factories in China, Japan, South Korea, and Taiwan are some of the major factors that will contribute to growth of the market in the coming years.
The new market research report from Technavio presents a breakdown and analysis of the LED lights segment based on application.
“The reduction in the price of LED components is the latest trend gaining traction in the market. The fall in the demand for LED products for backlighting is causing a decline in the average selling price of LED chips and LED packages. The manufacturers are expected to continue to explore cost-cutting solutions for LEDs, which will lead to cost reduction solution through the overall system design in the coming years,” says Sunil Kumar Singh, Lead Analyst, Hardware & Semiconductor, Technavio Research.
In 2015, the global LED market was dominated by the general lighting segment by accounting for a market share of over 40%. An increase in the installation of LEDs for street lighting and government initiatives to distribute LED bulbs to domestic consumers at a subsidized rate is the primary driver for the growth of this segment. Increased luminous efficacy of LEDs, growing demand for smart lighting systems, and a decline in the average selling price of LEDs are factors that are expected to influence the market positively by 2020.
The key vendors in the global LED market include Cree, GE Lighting, LG Innotek, Lumileds, Nichia, OSRAM, Samsung Electronics, and Seoul Semiconductor. The global LED market is highly fragmented owing to the presence of several large and small-sized, local manufacturers. The LED industry is experiencing price war among vendors which is affecting the company profits.
A more detailed analysis is available in the Technavio report, Global LED Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
Other related reports:
