Press release
High Brightness LED Market | Cree, Nichia, Broadcom, Kingbright Electronic, Sharp, OSRAM GmbH, Moritex, Samsung Electronics, Seoul Semiconductor
Growing concerns regarding energy saving and rising number of initiatives toward increasing green construction are expected to provide ample growth prospects in the regional landscape of high brightness LED industry. Asia Pacific high brightness LED market is projected to register a CAGR of 5.5% over the period of 2016-2023. China and Japan are the prominent countries which are actively seeking a fundamental shift in their energy policies by encouraging improved LED manufacturing, attractive initiatives, and huge financial subsidies.
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High brightness LED market has established its bearings significantly in today's world, with LEDs gaining precedence over CFLs. Depleting energy resources and increasing carbon emissions have directed the demand for energy conservation to top the priority lists in all sectors. The government and regulatory bodies across the globe are strictly implementing energy conservation norms, which in turn is triggering heavy deployment of energy saving lighting sources.
Top Key Players: -
Some of the players operating in the high brightness LED market include Cree, Nichia, Broadcom, Kingbright Electronic, Sharp, OSRAM GmbH, Moritex, Samsung Electronics and Seoul Semiconductor.
An ordinary light bulb transforms 100 Joules of electric energy into 5 J of light energy and 95 J of heat energy, in which case, the latter is a complete waste. In comparison, the energy saving light bulb saves 50% to 70% of energy and increases the life span of the device, which is in the range of 50,000 hours to 100,000 hours, thus offering huge potential. The extended life cycle of these bulbs leads to lower replacement and maintenance costs, which in turn is driving high brightness LED market size.
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These popular high brightness LED technologies are already commercially available in a range of new products in the automotive, backlight, mobile, and lighting applications. Increasing smartphone penetration and demand for related mobile devices have led the mobile segment in high brightness LED market to snowball. The mobile segment is foreseen to exceed USD 3.60 billion by 2023, increasing at an annual growth rate of 5.1% over the period of 2016-2023.
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