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Packaged LED Market - The Increasing Adoption of Daytime Running Lamps and LED Headlamps In Mass Production Cars
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The packaged LED market experienced massive hit owing to drastic price erosions along with discordant exchange rates in most of the regions. Decline in displays and mobile markets in 2015 was another reason for companies to compete in this industry. The average selling price (ASP) for mid and low powered LEDs declined about 30%-40% thus resulting in revenue decline in 2015. This decline was indicated by the lower-than anticipated demand from LED lighting and backlight markets.
LED industry is innovating, moving and continuing to pace itself as compared to the situation in 2015. The industry has paced to recover from 2016 and the manufacturers are focused towards increasing their activity in automotive industry as the automotive application is experiencing growth as compared to lighting segment. The ASPs have mostly stabilized for highly commoditized stocks such as low-power and mid-power LEDs. The demand for lighting application is rising along with the competition being stiffer leading to significant drops in LED prices as the competition intensifies.
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The lighting sector is expected to witness steady growth in the packaged LED market owing to its use in commercial luminaires, replacement lamps and outdoor luminaires. The LED lighting market is yet to reach its tipping point owing to the dropping prices, incentivizing rebates and manufacturers innovating new technologies to make LED lighting desirable and relevant. Technological advancements have enabled customers to adopt LEDs thus opening up new opportunities in this industry. Smart lighting with controllable options is expected to have a positive impact on the adoption rates owing to various benefits such as indoor navigation, energy savings, and improved security.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations
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