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High Brightness LED Market is Projected to Deliver Dynamic Progression over 2020 – 2023

Author : Ronak Bora | Published Date : 2020-08-31 

High Brightness LED market is set to witness a revenue of over USD 22 billion by 2023. 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.

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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.

Key insights from the report include:

The lighting segment generated revenue of USD 4.63 billion in 2015 and is forecast to grow at 6% CAGR. Increasing consumer confidence accompanied by uninterrupted growing sales of replacement lamps, downlights, industrial and commercial products has driven segment growth.

Mobile applications are forecast to grow at a CAGR 5.1% from 2016 to 2023. Increasing smartphones and related mobile devices demand is forecast to further propel growth over the coming years.

Asia Pacific HB LED market is forecast to be the most attractive region and is likely to be valued at USD over 11 billion by 2023. Availability of low priced components paired with encouraging Chinese government policies is expected to justify the growth impact across the region.

Europe high brightness LED market is predicted to be driven by the presence of numerous industries.

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Industry participants are now focusing on strengthening their product portfolio, and mergers and acquisitions in order to gain competitive advantage. Notable companies operating in the high brightness LED market include Cree, Broadcom, Samsung Electronics, Seoul Semiconductor, etc.

Table of Contents (ToC) of the report:

Chapter 3    High Brightness LED Market Insights

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

Chapter 4    High Brightness LED Market Application Insights

4.1    HB LED market share by application, 2015 & 2023

4.2    Backlight TV/monitor

4.2.1    Market estimates and forecast, 2012 - 2023

4.2.2    Market estimates and forecast by region, 2012 - 2023

4.3    Mobile

4.3.1    Market estimates and forecast, 2012 - 2023

4.3.2    Market estimates and forecast by region, 2012 - 2023

4.4    Sign

4.4.1    Market estimates and forecast, 2012 - 2023

4.4.2    Market estimates and forecast by region, 2012 - 2023

4.5    Lighting

4.5.1    Market estimates and forecast, 2012 - 2023

4.5.2    Market estimates and forecast by region, 2012 - 2023

4.6    Automotive

4.6.1    Market estimates and forecast, 2012 - 2023

4.6.2    Market estimates and forecast by region, 2012 - 2023

Browse complete Table of Contents (ToC) of this research report @ https://www.decresearch.com/toc/detail/high-brightness-HB-LED-market

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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