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
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