Asia Pacific Light Emitting Diodes (LED) Market by Product Technology (Basic, High Brightness, Organic, Ultra Violet & Polymer LED) and Application (General Lighting, Back Lighting, Mobile Devices, Signal and signage) - Opportunity Analysis and Industry F

Based on application, mobile devices, general lighting and automotive are the three most prominent segments where LED technology is implemented. Mobile devices segment being the largest of the three, accounted for about 27% of the total LED market revenue in 2014. Major mobile companies such as Samsung use Organic LEDs (O-LED) in mobile phones that contribute to the growth of the LED market.

Asia Pacific LED Market (Light Emitting Diodes Market) is expected to garner $35.8 billion by 2020, registering a CAGR of 15.7% during the forecast period 2015-2020. Light emitting diodes (LED) are basic components used in a variety of devices such as smartphones, medical instruments and automobiles. Earlier the application of LED was restricted to certain lighting requirements and had not entered the conventional applications in general lighting. However, the recent applications of LED as general lightings has boosted the market. In the coming years, LED is expected to capture the conventional CFL and CCFL lighting market due to advanced features and higher performance. Moreover, it is a more effective solution for all lightings, as well as other application purposes such as backlighting in large screen displays, non-backlight displays (OLED) and many others.

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Apart from the aforementioned benefit, the initial cost of LED lighting is comparatively high which restricts its acceptance. However, considering the longer product life offered by LEDs, the overall long term cost of the same is found to be very low in comparison to CFLs. In coming years, the consumers will gain awareness regarding the benefits of the longer product life of LED lamps and would accelerate the adoption rate of LED lamps. Growing display and large screen backlighting applications, falling cost of LED lamps, longer life span and high efficacy of LED are key factors that drive the market.

The APAC LED market is expected to grow at a double digit rate during the forecasted period. Flourishing real estate industry, favorable government initiatives and increased funding for high efficiency lighting along with the continuous replacement of existing outdoor lighting, is expected to drive the market dynamically. The Asia pacific region would go on to become a principal consumer of LED products and should become a major supplier for LED chips and packages, supplemented with the rising demand of product and components.

The falling price of LEDs is one factor that may limit the growth of this market; however, the growing demand in newer applications areas would over run this restraint and propel the market growth. Manufacturers should focus on developing tailored products to address the unique needs and preferences of the market that are anticipated to rise in future.

Companies operating in this market are strategically diverse as they deal with different operations in the LED value chain. Key players in the LED market are Samsung Electronics Co. Ltd, Seoul Semiconductor Co. Ltd, Philips Lumileds Lighting Company, Cree Incorporation, Nichia Corporation and OSRAM Licht AG contributing major revenue for this region.

Key findings of Asia-Pacific LED Market:

• India is expected to be one of the most opportunistic markets, owing to favorable government initiatives and growth of the smartphone and automotive market
• The Organic LED is expected to grow swiftly during the forecast period owing to its increased application in consumer appliances such as mobile phones & LED TVs
• Mobile devices segment dominates the Asia-Pacific LED market with accounting for about 27% of the total LED market revenue in 2014, and would remain the leading application segment throughout the forecast period

Analyst Review:

In the recent years, the application of LED was limited to particular lighting needs without a presence in mainstream applications for general lighting. However, the development of LED in applications such as general lightings and mobile devices has largely boosted the market. LED is expected to take over the conventional CFL and CCFL lighting market, owing to its advanced features and higher performance. Moreover, LED is emerging as a cost effective solution for all lightings and for other application purposes such as backlighting in large screen displays, non-backlight displays (OLED) and many others.

The LED industry in Asia-Pacific region projects an optimistic scenario for the growth of LED products. There is significant rise in the usage of the light emitting diode technology (LED) technology in various applications such as backlighting, street lighting, automotive, mobiles, signs and signals.

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The LED market in Asia –Pacific region is projected to exhibit a high growth. Booming real estate industry, favorable government initiatives and increased funding for high efficiency lighting along with the continuous replacement of existing outdoor lighting, is expected to drive the market dynamically. The region would go on to become a principal consumer of LED products and is expected to become a major supplier for LED chips and packages, supplemented with the rising demand for product and components.

Industry insiders anticipate LED prices to drop by around 20 percent in the coming times, which would largely boost the market adoption. In addition, the current pricings of LED are already impending at a level comparable to traditional lightings.

A major reason for the decline in prices would be the rising application of LEDs in general lighting (replacing CFL and CCFL), and the use of OLEDs in display screens that require no backlighting. Many countries in Asia-Pacific are working on projects for the replacement of CFL lamps in street lightings. In addition, the rise in the demand of LED is attributed to its benefits such as low power consumption, reduced costs and long life. Thus, the decrease in the price of LEDs and a rise in the demand for LED lamps in lighting is likely to largely supplement the progression in the APAC market.

Presently, the market penetration of LEDs in household lighting has already reached nearly 10 percent. In addition, it is estimated that the smart lighting market will develop over the next 10 years and become a full-fledged member of household lighting thereby boosting the LED market further.

The scope of the APAC LED market, is expected to remain high in China and Japan. Regions such as India, presently, have lesser adoption, but are anticipated to grow at comparatively higher growth rates during the forecast period. Favorable government regulations and the increasing market for smart phones and automobiles will be the key driving factors for this market.

The intensity of rivalry among the competitors arises from a concentrated market share of key players. Substantial product differentiation and low switching cost, increases the bargaining power of the buyer. In addition, high R&D investment cost and rapid technological advancements lowers the threat of new entrants in the LED market. The prominent players of the Asia-Pacific LED Market includes Samsung Electronics Co. Ltd., Cree Corporation, Seoul Semiconductor Co. Ltd., Osram Licht AG, Nichia Corporation, LG Innotek Co. Ltd., GE lighting solution.

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