Press release
High Brightness LED Market Size Projected To Reach $35.84 Billion By 2034 With A Cagr Of 8.7%
High Brightness LED
What Is the Projected Growth of the High Brightness LED Market?
The market size for high brightness LED has seen significant expansion in the previous years. It's set to surge from $23.59 billion in 2024 to $25.71 billion in 2025, with a compound annual growth rate (CAGR) of 9.0%. Factors such as energy efficiency rules, falling prices of LEDs, public environmental cognizance, and government incentives contried to this growth during the historic timeline.
The market size for high brightness LEDs is projected to witness robust expansion in the coming years, reaching a valuation of $35.84 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 8.7%. The expected growth during the forecast period is due to factors like urbanization patterns, the establishment of smart cities, a surge in demand for vehicle lighting, increasing usage of OLED technology, and the broadening scope of IoT applications. The impending period positively highlights the progression in horticulture illumination, the emergence of UV LED applications, inclusion of high brightness LEDs in wearable devices, and their rising integration in healthcare lighting.
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What Are the Different High Brightness LED Market Segments?
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 Distriion 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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What Are the Primary Drivers Shaping the High Brightness LED Market?
The rising desire for electronic equipment is predicted to stimulate the growth of the high-brightness LED market. Such devices direct the electrical current to manage data processing and overall system function. Multiple factors, including technological advancements, lifestyle transitions, market expansion in developing economies, and environmental consciousness, are fueling the increased demand for these electronic devices. The exceptional performance, energy efficiency, and design versatility of HB-LEDs are used in these electronic devices, boosting their use in consumer electronics and contriing to market growth. As per the data from Pomodoro Timer, a simple online timer platform based in Ukraine, the revenue generated by tech electronics devices hit $14.21 billion in 2022, with projections of a 17% surge by 2025. Consequently, the rising demand for electronic devices is a significant factor propelling the expansion of the high-brightness LED market.
Which Companies Are Leading in the High Brightness LED Market?
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
What Trends Are Expected to Dominate the High Brightness LED Market in the Next 5 Years?
Top businesses in the high-brightness LED market are concentrating on producing innovative LED technology for large-format, high-resolution video panels with improved visual effectiveness, power efficiency, and longevity to cater to the increasing demand for vibrant and dependable displays in uses such as digital signage, sporting arenas, and outdoor promotion. These innovative LEDs are specially built to ensure superior brightness and clarity, which are crucial for large-format, high-resolution displays commonly seen in outdoor billboards, sports stadiums, and digital signage. Take, for example, Cree LED, a US-origin LED solutions provider, launched three new surface mount diode (SMD) LEDs in February 2023, tailored for large-format, high-resolution video screen uses. The intention behind these innovations is to improve image quality and trustworthiness across various display settings like stadiums, airports, command centers, and outside signage. All these three products provide superior brightness, guaranteeing vibrant hues and legibility even under challenging illumination circumstances. Additionally, these LEDs are designed to endure severe environmental conditions, thus making them suitable for indoor and outdoor uses alike.
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What Are the Top Revenue-Generating Geographies in 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the High Brightness LED Market?
2. What is the CAGR expected in the High Brightness LED Market?
3. What Are the Key Innovations Transforming the High Brightness LED Industry?
4. Which Region Is Leading the High Brightness LED Market?
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