High-Brightness LED Market is Touted to Earn a Whopping $29 Billion Globally, by 2022

High-Brightness LED Market is expected to reach $29 billion by 2022 years; growing at a CAGR of 10% from 2016 - 2022.

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Increasing HB-LED light applications in general lighting, cars, mobile, and large scale replacements of traditional lights as these are more cost-effective, energy-efficient, and offers longer life span drive the market growth. However, high initial investment could restrict the market growth. Moreover, it is anticipated that the rise in demand for lighting, coupled with rising government focus on energy conservation on photovoltaic technology would spur the global market growth.In the year 2014, Asia-Pacific dominated the market and contributed more than 50% share of the overall market revenue, followed by North America.

In 2014, general lighting application segment dominated the global HB-LED market with over 46% share and is anticipated to maintain this lead in future as well. General lighting refers to the lighting systems that ensure the entire ambiance is lit correctly. This also includes the use of both artificial lightings such as lamps and light fixtures and natural illumination to reduce energy consumption. However, mobile application segment is anticipated to grow significantly and is expected to register a CAGR of 10.8% during the forecast period. This is due to various applications of HB-LED in mobile devices since it produces bright light with minimum electricity and instant responsiveness.

North America is projected to be the fastest growing region throughout the analysis period. The increasing shipments of mobile devices and reduction in the cost of LED components are major driving forces for HB-LED market in the region. Moreover, rising demand for Brighter LEDs in commercial applications, automobiles, and displays are also the factors contributing for the growth of the market.

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Key findings of the study:

In 2014, general lighting application led the overall HB-LED market revenue, which is projected to grow at a CAGR of 9.5% during the forecast period

Mobile application segment is expected to exhibit rapid growth, owing to the rising increasing shipments of mobile devices

Presently, Asia-Pacific leads the world HB-LED market and it is expected to continue this trend throughout the forecast period owing to the swift rise in energy saving lighting solutions from countries such as U.S., Japan and India.

Japan leads the overall Asia-Pacific HB-LED market with about one-fourth of the market shares in the region

Key players in the market have adopted product launch as their key developmental strategy to expand their services and businesses in different geographies. The major players profiled in this report include Epistar Corp, Cree, Inc., Philips Lumileds, Moritex Corporation, Samsung Electronics Co Ltd, Seoul semiconductor, Osram Opto Semiconductor, American Bright Optoelectronics Corps, Nichia Corporation, and Toyoda Gosei.

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