The sold production of semiconductor Light Emitting Diodes (LEDs) in Sweden saw significant fluctuations between 2017 and 2023. The peak production year was 2020, with a value of 564.31 thousand items, followed by a noticeable decline. The year 2023 stood at 195.59 thousand items, reflecting a year-on-year decrease of 5.64% compared to 2022. Over the past five years, the compound annual growth rate (CAGR) was -4.94%, indicating a consistent downward trend.
Looking ahead to 2028, the forecasted CAGR from 2024 is -5.47%, with an overall growth rate decline of 24.52% projected. Key factors influencing this trend could include advancements in alternative technologies, market saturation, and changing consumer demands. Future trends to watch include innovations in LED efficiency, potential shifts towards organic LEDs (OLEDs), and emerging applications in IoT and smart lighting solutions.
