Press release
High Brightness LED Market Poised for 8.7% Growth, Set to Hit $7.78 Billion by 2029
High Brightness LED Market Size
As the necessity for electronic devices escalates, the high-brightness LED market is anticipated to surge. Electronic devices, responsible for regulating electrical 'current flow' for data processing and system control, are becoming more popular due to advancements in technology, shifts in lifestyle, growth in emerging markets, and heightened environmental consciousness. These devices are utilizing the excellent performance, energy conservation, and design versatility of HB-LEDs, which is driving their uptake in the consumer electronics sector thus, catalyzing growth. For instance, data from the Ukraine-based, simple web-based timer platform, Pomodoro Timer, in August 2022, revealed that revenues from technical electronic devices hit $14.21 billion in 2022 and it's predicted to see a 17% climb by 2025. Thus, the mounting demand for electronic devices is accelerating the expansion of the high-brightness LED market.
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What Is the projected market size and growth rate for the high brightness led market?
The market size for high brightness LED has been experiencing robust growth in the previous years. It is projected to proliferate from a valuation of $23.59 billion in 2024 to an estimated worth of $25.71 billion in 2025, with a compound annual growth rate (CAGR) of 9.0%. Multiple factors have played a role in its historic growth, such as energy efficiency regulations, a drop in LED prices, increased environmental consciousness, and governmental incentives.
The market for high brightness LED is projected to witness considerable growth in the coming years, expanding to $35.84 billion in 2029 at a Compound Annual Growth Rate (CAGR) of 8.7%. The expected growth within the forecast period can be linked to trends in urbanization, smart city projects, escalating demand for automotive illumination, increased acceptance of OLED technology, and the broadening of IoT applications. Major trends expected to shape the forecast period include the evolution of horticulture lighting technology, the emergence of UV LED applications, the incorporation of high brightness LEDs into wearable technology, and a surge in usage within the healthcare lighting sector.
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What new trends are reshaping the high brightness led market and its opportunities?
Prominent firms in the high-brightness LED market continually strive to design and produce innovative LEDs suitable for large-scale, high-definition video screens. These new creations aim to improve visual quality, energy conservation, and durability and cater to the increasing need for vivid and dependable displays in areas like digital signage, sports venues, and open-air advertising. These cutting-edge LEDs are custom-built to offer enhanced clarity and brightness, thereby making them indispensable for sizable, high-definition displays typically found in outdoor billboards, arenas, and digital signs. For example, in February 2023, Cree LED, an American LED solutions company, rolled out three novel surface mount diode (SMD) LEDs intended specifically for vast, high-resolution video screen applications. These LED products strive to uplift picture quality and dependability across myriad display settings, including stadiums, airports, control rooms, and outdoor signage. All three items promise exceptional brightness, ensuring eye-catching colors and sharp visibility, even under difficult lighting scenarios. The design of these LEDs allows them to endure tough environmental conditions, making them viable options for both interior and exterior uses.
What major market segments define the scope and growth of the high brightness led market?
The high brightness led market covered in this report is segmented -
1) By Type: 6V, 12V, 24V
2) By Technology: Mesa, Flip Chip, Vertical
3) By Distribution Channel: Offline, Online
4) By Application: Automotive Lighting, General Lighting, Backlighting, Mobile Device, Signals And Signage, Other Applications
5) By End-Use Sector: Commercial, Residential, Industrial, Other End-Users
Subsegments:
1) By 6V: Standard 6V LEDs, High Power 6V LEDs, RGB 6V LEDs
2) By 12V: Standard 12V LEDs, High Power 12V LEDs, RGB 12V LEDs
3) By 24V: Standard 24V LEDs, High Power 24V LEDs, RGB 24V LEDs
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Which region dominates the high brightness led market?
Asia-Pacific was the largest region in the high brightness LED market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the high brightness LED market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the high brightness led industry growth?
Major companies operating in the high brightness LED market are Samsung Electronics Co. Ltd., LG Electronics, General Electric Company, Broadcom, Eaton Technologies, Koninklijke Philips N.V., Toyoda Gosei Co. Ltd., Lite-On Technology Corporation, OSRAM Licht, Seoul Semiconductor Co. Ltd., Everlight Electronics Co. Ltd., Viewsonic Corporation, Cree LED, Lumileds Holding B.V., Moritex Corporation, Lumex, Plessey, Kingbright Company LLC., Genesis Photonics Inc., Intematix Corporation, Luckylight Electronics Co. Ltd., Epistar Corporation, Nichia Corporation, American Bright Optoelectronics Corporation, Syska
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What Is Covered In The High Brightness LED Global Market Report?
•Market Size Forecast: Examine the high brightness led market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the high brightness led market for a structured understanding.
•Key Players Overview: Analyze major players in the high brightness led market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the high brightness led market.
•Segment Contributions: Evaluate how different segments drive overall growth in the high brightness led market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the high brightness led market.
•Industry Challenges: Identify potential risks and obstacles affecting the high brightness led market.
•Competitive Landscape: Review strategic developments in the high brightness led market, including expansions, agreements, and new product launches.
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