LED Market Analysis: Share, Size, and Forecast

LED Market Overview

The size of the global light emitting diode (LED) market is expected to increase almost USD 24 billion between 2017-2022, accelerating at a CAGR of 16% during the forecast period. Rapid LED market growth will be attributable to the declining cost of LEDs. The manufacturing cost of LEDs has declined since 2012, predominantly due to the declining average selling price of chips and semiconductor components, for which the demand for LEDs is expected to proliferate significantly in the forecast period.

52% of global LED market growth during the forecast period will come the Asia-Pacific (APAC). LED market growth in this region will be attributed to the increased adoption of LEDs in emerging economies including India and China combined with the high concentration of consumer electronics manufacturers and favorable regulatory environments. APAC accounted for 47% of the regional LED market share in 2017 and will continue its dominance through 2022.

LED Market Insights

  • The growing popularity of ambient lighting in the automotive market will be one of the major factor driving market growth. During the night time, the appearance of the cabin is improved with the help of ambient lighting. Ambient lighting provides a modish atmosphere inside automobiles. Low-energy consumption and compact size of LEDs are increasing their preference among customers, thus propelling the market growth of automotive led lighting market
  • The phasing out of halogen lamps will be one of the significant factors that will have a positive impact on the global LED industrial lighting market during the forecast period. Numerous countries have banned the utilization of halogen lamps to boost the usage of LEDs for their high energy-saving capabilities. Governments are focusing on energy-efficient lighting alternatives which will lead to the growth of the LED industrial lighting market.
  • The chip-on-board led world market is expected to grow owing to advantages like better lighting effects, better color mixing, and the ability to spread light over a large area which will necessitate the adoption of chip on board LEDs during the estimated period. Factors like its efficient thermal management ability, homogeneous luminosity, longer service life, high-intensity lighting, reliable output, energy efficiency, and compactness will result in the substantial growth of chip-on-board led market.

LED Market Share and Segmentation

Within our LED industry analysis, we provide deep insights into the market landscape, its segments, and their market share. Our research experts segment LED market by the following:

Our LED market segmentation research offerings include:

  • LED Market by Type
    • LED lamps market
    • LED fixtures market
    • LED luminaries market
  • LED Market by Device Configuration
    • Pinned LED market
    • Chip on board LED market
    • Surface-mounted LED market
  • LED Market by Technology
    • Basic LED market
    • High brightness LED market
    • OLED market
    • Ultraviolet LED market
    • Polymer market
  • LED Market by Application
    • Led for automotive market
    • Led for general lighting market
    • Led for backlighting market
    • Led for signal & signage market
  • LED Market by Industry
    • LED for residential market
    • LED for commercial market
    • LED for industrial market
    • LED for outdoor market
    • LED for Architectural market

We at Technavio, with our comprehensive understanding of the LED market, have been monitoring the latest LED industry trends and developments to create an in-depth portfolio of LED market research reports. These reports help our clients identify opportunities within the market and develop effective strategies to optimize their market positions. Our LED market reports offer the following insights:

  • LED industry overview
  • LED industry statistics
  • LED market size
  • LED market share
  • LED market growth
  • LED market forecast
  • LED market trends

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