The high brightness led global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
High Brightness LED Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
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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Scope Of High Brightness LED Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
High Brightness LED Market Overview
Market Drivers –
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.
Market Trends –
Major companies operating in the high-brightness LED market focus on developing innovative LED technology products, such as the Aurora Series, to meet the increasing demand for brighter, more efficient, and versatile lighting solutions across various sectors. An Aurora Series is a new ultra-high-brightness LED display system that provides superior display output to standard display screens. For instance, in March 2021, Shenzhen Absen Optoelectronic Co., Ltd., a China-based provider of LED applications, launched the Aurora Series, a new ultra-high-brightness LED display. This new series offers cutting-edge features and capabilities to meet the increasing demand for bright, high-quality displays across various indoor and outdoor applications. The Aurora Series is 50% thinner and lighter than its predecessors, featuring a fan-less design that reduces power consumption by 40%. The series is waterproof and operates between -40 and +50 degrees Celsius, making it a reliable choice for various applications.
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
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Regional Insights –
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.
Key Companies –
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
Table of Contents
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
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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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