Table of Contents
According to Stratistics MRC, the Light-Emitting Diodes (LEDs) market is valued at $22.78 billion in 2015 and is expected to grow at a CAGR of 13.38% to reach $54.89 billion by 2022. The growing demand for energy efficient lighting is the key driving factor for the market growth. The factors that are influencing the market growth include longer lifespan, diminishing costs of LEDs, and increasing backlighting market. However, factors such as high initial costs and lack of awareness are hindering the growth. The opportunity for market growth lies in general lighting in commercial buildings, and industries.
High Brightness (HB) LEDs is likely to acquire the highest market share during the forecast period as it can provide brighter light with lower voltages when compared to other alternatives. Automotive applications are expected to drive the LED market during forecast period and expected to witness rapid growth rate. North America dominates the global market for Light-Emitting Diodes (LEDs) and expected to grow at a highest CAGR during the forecast period. The growth is attributed due to the replacement of conventional street lights with LEDs across the US.
The major players in the market include GE Lighting Solutions, Samsung Electronics Co. Ltd., Hitachi Cable, Ledtronics, Philips Lumileds Lighting Company, International Light Technologies, Shenzhen Everyday Lighting Technology Co., Ltd., Novel power technologies ltd., LG Innotek Co Ltd, OSRAM Licht AG, Toyoda Gosei Co., Ltd., Nichia and Seoul Semiconductor Co. Ltd.
- Basic LED
- Organic LED (OLED)
- High Brightness LED
- Ultraviolet LED (UV-LED)
- Polymer LED (PLED)
- Consumer electronics
o Other Consumer electronics applications
- General lighting
- Signals and signage
- Other Applications
- North America
o Rest of Europe
- Asia Pacific
o New Zealand
o Rest of Asia Pacific
- Rest of the World
o Middle East
o South Africa
What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancement
Get Industry Insights. Simply.
Talk to Veronica
+1 718 514 2762
“Grow lights market to exhibit a high growth between 2017 and 2022” The grow lights market was valued at USD 2.50 billion in 2016 and is likely to grow at a CAGR of 11.86% between 2017 and 2022. The ...
“LED lighting market expected to grow at a high rate between 2016 and 2022” The global LED lighting market is expected to be valued at USD 92.40 billion by 2022 and is expected to witness a shipment ...
“Free licensing and faster and assurance of safer data transfer than other competing technologies drive the FSO and VLC markets, respectively” The free space optics (FSO) market is expected to grow ...