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According to Technavio’s analysts, the global high-brightness LED market is anticipated to grow at a steady rate and post a CAGR of more than 7% during the forecast period. The inception of energy-efficiency certification programs will drive the growth prospects for the global high-brightness LED market until the end of 2021. According to the industry research report, energy Star-certified light emitting diode (LED) products consume 75% less energy than incandescent light bulbs, which, in turn, will boost the production rate and adoption rate of high-brightness LED products. In addition, the growing need for energy-efficient lighting products to save energy and reduce the carbon footprint will drive the establishment of programs such as the Energy Star certification, DesignLights Consortium (DLC), and Lighting Design Lab certification. These programs will further encourage the use of energy star certified high-brightness LED lighting products for energy consumption in buildings, homes, and industries.
The declining manufacturing cost of high power LED products will drive the growth prospects for the global high-brightness LED market for the next four years. One of the major factors responsible for the reduction in the cost of LEDs is the decreasing average selling price (ASP) of the chip LED and components used in the manufacturing processes of these devices.
The global HB-LED market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. It has been observed that these vendors are increasingly focusing on improving in terms of experience, product portfolio, geographical presence, financial condition, research and developmental activities, and customer base to gain more market share. Product quality, price, and products innovation are some of the major factors the vendors usually compete on.
Key vendors in this market are -
Other prominent vendors in the market include Dialight, Eaton, Emerson Electric, Lite-On, M.L.S Electronics, TOSHIBA Lighting & Technology, and TOYODA GOSEI.
The HB-LED market in the consumer electronics segment accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. However, the segment is likely to experience a decline in its market share due to the increasing adoption of organic light-emitting diode (OLED) technology in applications such as smartphones and TVs. Some of the major factors responsible for this decline are price wars, an oversupply of HB LED chips from the Chinese market, and a low number of sales of desktops.
In terms of geography, APAC accounted for the majority market share during 2016 and will continue to dominate the market during the forecasted period. It has been observed that the APAC region witnesses a continual demand for HB LEDs for TV backlights, smartphones, and computing devices from various sectors such as the healthcare, hospitality, retail, office, and industrial segments. Moreover, the rapid urbanization and growing focus on improving the infrastructure will further propel the market’s growth rate in the coming years.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Research Methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by application
PART 07: Geographical segmentation
PART 08: Key emerging economies
PART 09: Decision framework
PART 10: Drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Appendix
Tags: led lights, led display, lighting design, lighting companies, hardware and semiconductor top companies, lighting market analysis,
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