Light-emitting Diode (LED) Market 2019-2025
New Study Reports “Light-emitting Diode (LED) Market 2019 Global Market Opportunities, Challenges, Strategies and Forecasts 2025”.
Introduction / Market Synopsis:
LED or light-emitting diode is a semiconductor device that emits light when electric current passes through it. The current is generated when particles called electrons and holes combine within the semiconductor material. While the use of LEDs was earlier limited to specific lighting needs, they are now being used for indicator lights, high-resolution displays of smartphones and high-definition television sets. LEDs are also good for home and industrial lighting and automotive lighting and display. The many uses of light-emitting diodes (LED) are driving the market around the world.
Report analysts believe that the global market for LEDs will grow at a promising pace over the forecast period. LEDs consume less power when compared to normal lights. Therefore, the demand for these power-efficient illuminating systems is increasing across homes, commercial establishments and industrial settings. The reducing price of LED lights is also likely to boost sales in the coming years. As per reports, the global market for LED lights will grow at a CAGR of 11.8% over the forecast period.
Light-emitting diodes (LED) are small, consume less energy, and are easy to maintain. They are commonly used as status indicators and displays on a lot of equipment. Large-area LED displays are also popular and they are used as stadium displays, dynamic message signs on freeways, and dynamic decorative displays. Thin and lightweight message displays at airports, railway stations, ferries, trams and more also use LEDs. They are also useful for cars, motorcycle and bicycle lights. With the growing popularity of LEDs, the global market is expected to grow at a CAGR of about 15.9% by 2024.
Important Key Players Analysis: Cree, GE Lighting, LG Innotek, NICHIA, OSRAM, Philips Lighting, Samsung Electronics, Dialight, Eaton, Emerson, Everlight Electronics, Seoul Semiconductor, Toyoda Gosei and more
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The global light-emitting diode (LED) market is segmented into types, applications, and end-users.
By types, the market is divided into ultraviolet LED, polymer LED, organic LED, basic LED and high brightness LED. The increasing use of different types of LEDs at homes, commercial establishments and industries is expected to boost the LED market in the coming years.
By applications, the market is divided into general lighting, backlighting, mobile devices, signals and signage, automotive and other applications.
By end-users, the market is divided into residential, commercial, industrial, outdoor and architectural.
The five important regions considered for analyzing the global market of light-emitting diode (LED) are North America (The United States, Mexico and Canada), Central and South America (Argentina, Brazil and rest of the region), Europe (France, UK, Germany, Italy, Spain, and Russia), Asia-Pacific (Japan, India, China, Australia and Southeast Asia), and the Middle East and Africa (Egypt, South Africa, Turkey, Nigeria and UAE).
The United States, Europe and Canada have strict regulatory policies regarding conventional lighting and energy consumption. Therefore LED products are becoming increasingly popular in these regions.
Asia-Pacific is likely to witness good growth during the forecast period. Thriving real estate industry and favorable government policies are likely to drive the market dynamically. This region is expected to become one of the highest consumers of LED products and also a key supplier of LED chips and packages. Researchers at Kyushu University in Japan have created micro-thick organic LEDs by combining thin organic layers and thick layers of hybrid perovskite. This will improve the affordability and viewing angels of television sets and high-performance displays.
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Apart from the renewable energy sources, generation of electricity in conventional power market has been broadly segmented into mid-merit, peaking, and baseload capacity. In the conventional approach, electricity is dispatched by operators keeping pace with the minimum marginal cost to reduce the overall system costs. The cost of operating a power plant along with the cost of building it determines the marginal cost of the entire process. Baseload power plants are known to have the lowest marginal cost which mostly include nuclear power and hydropower. Baseloads are followed by mid-merit plants based on peaking capacity and fuel cost.
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