Press release
Backlight LED Market Size, Strategies And Outlook By 2024-2033
Backlight LED Market
The backlight led market size is expected to see marginal decline in the next few years. It will decline to $0.8 billion in 2028 at a compound annual growth rate (CAGR) of -1.1%. The decline in the forecast period can be attributed to high cost of production, and high Price. Major trends in the forecast period include mini-led and micro-led displays, demand for high-dynamic-range (hdr) and wide color gamut displays, edge-lit and direct-lit backlighting, customization and flexible displays, integration with smart and iot devices.
Market Overview -
A light emitting diode (LED) is a semiconductor device that emits light as an electrical current pass through it. LED-backlit displays use TFT LCD (thin-film-transistor liquid-crystal display) technologies that offer reduced energy consumption, better contrast and brightness, a greater color range, a more rapid response to changes in the scene, and photorefractive effects.
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Demand In The Advertising Industry Is Boosting The Backlight Led Market
The increasing demand for backlight LED in the advertising industry is expected to drive the market in the forecast period. Backlight LED offers high flash and fade frequencies which helps the advertisers to showcase their products with better visibility. The LED backlight produces even light with less power consumption compared to fluorescent backlights. The maintenance cost of LED backlights used in billboards is also very minimal and saves 90% on power when compared to other light bulbs. These advantages offered by LED backlights will boost the backlight LED market in the forecast period.
Competitive Landscape -
Major companies operating in the backlight led market include Samsung Electronics Co. Ltd., NICHIA CORPORATION, LG Innotek Co. Ltd., Epistar Corporation, Lumileds Holding B.V., OSRAM GmbH, Koninklijke Philips N.V., Cree Inc., LG Corporation, Sharp Corporation, Everlight Electronics Co. Ltd., AU Optronics Corp., NEC Corporation, Mitsubishi Electric Corporation, Sony Group Corporation, JF Technology Berhad, Broadcom Inc., ON Semiconductor Corporation, Texas Instruments Incorporated, Analog Devices Inc., Infineon Technologies AG, STMicroelectronics N.V., NXP Semiconductors N.V., Renesas Electronics Corporation, Maxim Integrated Products Inc., Microchip Technology Inc., Silicon Laboratories Inc., Skyworks Solutions Inc., Qorvo Inc., Murata Manufacturing Co. Ltd., TDK Corporation, Panasonic Corporation, Toshiba Corporation, Hitachi Ltd.
Challenges In The Backlight Led Market, Competition From Oled And Substitute Technologies
Increasing adoption of substitute technologies such as OLED is likely to restrain the backlight LED market growth. The power consumption of OLEDs is less when compared to LEDs because OLEDs generate light themselves and do not require backlighting. The battery-operated devices will be highly benefited from OLED features, thus affecting the growth of the backlight LED market.
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Key Segments -
The backlight led market covered in this report is segmented -
1) By Product Type: Small-Sized Backlight LED, Mid And Large Sized Backlight LED
2) By Color: Red LED, White LED, RGB LED
3) By Application: Phone, Television, Computer, Instruments, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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