LED Packaging Market Analysis Revealing Size, Production, Demand and Growth 2020 to 2025

The New report includes a detailed study of Global LED Packaging Market. It is the result of a comprehensive research carried out keeping in mind the different parameters and trends dominating the global LED Packaging Market.
Both primary and secondary research has been carried out to arrive at the desired outcome. The primary research included feedback, opinion, and suggestion provided by the people and organization residing in the key markets as identified the industry experts.

The LED Packaging Market was valued at USD 20.60 billion in 2019 and is expected to reach USD 29.23 billion by 2025, at a CAGR of 6% over the forecast period 2020- 2025.

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Competitive Landscape:

The LED packaging market trend is towards the fragmentation because of the presence of many players offering the LED packaging.

Recent Development:

November 2018 - Nichia launched color temperature tunable COB LED series. It is comprised of COB packaged which itself controls the light emission color of the tunable LED series.

- January 2018 - Lumileds announced a new 5_5-mm packaged LED. The 2W product has high-power specifications and targets outdoor and industrial solid-state lighting (SSL) applications that are typically served by high-power LEDs.

Key Market Trends:

Increasing Demand from Residential Segment to Drive the Market

- The residential sector outlook has largely been optimistic, driven by a shift in consumer demand towards energy-effective lightings such as LEDs. Moreover, recent government initiatives and growing awareness among consumers is expected to have a significant impact on the industry.
- Of all the lighting sources, LED lights hold a major share. The growing awareness and increasing policies of the various governments have globally increased the penetration rate of LEDs. The global LED penetration is on the continuous surge year on year. According to Goldman Sach, it is expected to cross 60% by the year 2020.
- The increasing prominence of LEDs can also lead to the adoption of smart lighting systems (connected lighting) in industries. Given the flexibility of LEDs in terms of color variation and brightness, it makes more sense for connected systems to use LEDs than traditional lighting sources.

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Asia-Pacific to Witness the Fastest Growth

- The Asia-Pacific is currently experiencing a tremendous shift in lighting systems where companies in these regions are adopting LEDs in the industries owing to the improved efficiency of LED lighting systems.
- China has been gradually reducing the sale of incandescent light bulb products during the last five years, ensuring that outdated technology is soon to be replaced by something more advanced and profitable.
- In India, the government supported the plan of deploying cost-effective LEDs across the end-users has received a decent response. The country is on the verge of replacing all the street lamps with LED and adopting smart LEDs for traffic signals. Ultimately increasing the demand for local LED manufacturers and hence LED packaging market is growing.
- Due to high demand from the consumer side for the LED lighting, new players are entering into manufacturing, and hence the demand for LED packaging in the region is on rapid growth.

Influence of the LED Packaging market report:

-Comprehensive assessment of all opportunities and risk in the LED Packaging market.
-LED Packaging market recent innovations and major events.
-Detailed study of business strategies for growth of the LED Packaging market-leading players.
-Conclusive study about the growth plot of LED Packaging market for forthcoming years.
-In-depth understanding of LED Packaging market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the LED Packaging market.

This research report represents a 360-degree overview of the competitive landscape of the Global LED Packaging Market. Furthermore, it offers massive data relating to recent trends, technological advancements, tools, and methodologies. The research report analyzes the Global LED Packaging Market in a detailed and concise manner for better insights into the businesses. Finally, the researchers throw light on different ways to discover the strengths, weaknesses, opportunities, and threats affecting the growth of the Global LED Packaging Market. The feasibility of the new report is also measured in this research report.

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