Overview and Scope
High-brightness LED (Light Emitting Diode) refers to a type of LED that emit intense illumination while maintaining energy efficiency and longevity. They are commonly used in automotive lighting, signage, outdoor lighting, and display screens. These LEDs produce bright light through technological advancements, offering benefits such as lower energy consumption, longer lifespan, and faster response times compared to traditional lighting sources.
Sizing and Forecast
The high brightness LED market size has grown strongly in recent years. It will grow from $21.78 billion in 2023 to $23.59 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to energy efficiency regulations, declining LED prices, environmental awareness, government incentives.
The high brightness LED market size is expected to see strong growth in the next few years. It will grow to $32.99 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The growth in the forecast period can be attributed to urbanization trends, smart city initiatives, increased demand for automotive lighting, growing adoption of OLED technology, expansion of IoT applications. Major trends in the forecast period include advancements in horticulture lighting, rise of UV LED applications, integration of high brightness LEDs in wearables, increasing penetration in healthcare lighting.
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Segmentation & Regional Insights
The high brightness led market covered in this report is segmented –
1) By Type: 6V, 12V, 24V
2) By Technology: Mesa, Flip Chip, Vertical
3) By Distribution Channel: Offline, Online
4) By Application: Automotive Lighting, General Lighting, Backlighting, Mobile Device, Signals And Signage, Other Applications
5) By End-Use Sector: Commercial, Residential, Industrial, Other End-Users
Asia-Pacific was the largest region in the high brightness LED market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the high brightness led market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increasing demand for electronic devices is expected to propel the high-brightness LED market going forward. Electronic devices are components that control the flow of electrical currents for information processing and system control. The demand for electronic devices is increasing due to technological innovation, lifestyle changes, market expansion in emerging economies, and environmental awareness. Electronic devices leverage the superior performance, energy efficiency, and design flexibility of HB-LEDs, spurring their adoption in consumer electronics and fueling growth. For instance, in August 2022, according to the Pomodoro Timer, a Ukraine-based simple web-based timer platform, the revenue generated by technical electronics devices reached $14.21 billion in 2022 and is projected to experience a 17% increase by 2025. Therefore, the increasing demand for electronic devices is driving the growth of the high-brightness LED market.
Key Industry Players
Major companies operating in the high brightness led market are Samsung Electronics Co. Ltd., LG Electronics, General Electric Company, Broadcom, Eaton Technologies, Koninklijke Philips N.V., Toyoda Gosei Co. Ltd., Lite-On Technology Corporation, OSRAM Licht, Seoul Semiconductor Co. Ltd., Everlight Electronics Co. Ltd., Viewsonic Corporation, Cree LED, Lumileds Holding B.V., Moritex Corporation, Lumex, Plessey, Kingbright Company LLC., Genesis Photonics Inc., Intematix Corporation, Luckylight Electronics Co. Ltd, Epistar Corporation, Nichia Corporation, American Bright Optoelectronics Corporation, Syska
The high brightness led market report table of contents includes:
1. Executive Summary
2. High Brightness LED Market Characteristics
3. High Brightness LED Market Trends And Strategies
4. High Brightness LED Market – Macro Economic Scenario
5. Global High Brightness LED Market Size and Growth
……
32. Global High Brightness LED Market Competitive Benchmarking
33. Global High Brightness LED Market Competitive Dashboard
34. Key Mergers And Acquisitions In The High Brightness LED Market
35. High Brightness LED Market Future Outlook and Potential Analysis
36. Appendix
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