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Backlight LED Market on Track for Strong Growth, Estimated to Grow at -1% CAGR Through 2029
Backlight LED
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What Is the Expected CAGR for the Backlight LED Market Through 2025?_x000D_
Over the past few years, there has been a slight diminution in the size of the backlight LED market. This market is projected to fall from $0.83 billion in 2024 to $0.82 billion by 2025, reflecting a compound annual growth rate (CAGR) of -1.6%. Factors such as the impact of Covid and the Russian Ukraine war have contributed to this regression during the historical period._x000D_
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What's the Projected Size of the Global Backlight LED Market by 2029?_x000D_
In the coming years, the market size of backlight LED is projected to experience a slight contraction. By 2029, it is expected to shrink to $0.79 billion, translating into a compound annual growth rate (CAGR) of -1.0%. This projected reduction can be primarily ascribed to the elevated production costs and high pricing. The forecast period will witness key trends such as the emergence of mini-led and micro-led displays, increased demand for high-dynamic-range (HDR) and wide color gamut displays, prevalence of edge-lit and direct-lit backlighting, growing trend of customizable and flexible displays, and integration with smart and IoT devices._x000D_
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Top Growth Drivers in the Backlight LED Industry: What's Accelerating the Market? _x000D_
The expectation is for a surge in the backlight LED market during the forecast period, primarily fueled by its increased usage in the advertising sector. Backlight LEDs, with their high flashes and fade frequencies, promote better product visibility, a major advantage to advertisers. In comparison to fluorescent backlights, LED backlights emit balanced light and consume less power. Moreover, they require minimal maintenance, especially in billboard applications, while providing significant power savings, up to 90% compared to other light bulbs. These benefits are likely to catalyze the future market growth of backlight LEDs._x000D_
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What Trends Will Shape the Backlight LED Market Through 2029 and Beyond?_x000D_
The surge in use of alternative technologies like OLED has the potential to curtail the expansion of the backlight LED market. OLEDs consume less power than LEDs as they produce their own light and don't need backlighting. Battery-powered devices stand to gain considerably from the characteristics of OLEDs, and this could, in turn, impact the progression of the backlight LED market._x000D_
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What Are the Main Segments in the Backlight LED Market?_x000D_
The backlight LED market covered in this report is segmented - _x000D_
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1) By Product Type: Small-Sized Backlight LED, Mid And Large Sized Backlight LED _x000D_
2) By Color: Red LED, White LED, RGB LED _x000D_
3) By Application: Phone, Television, Computer, Instruments, Other Applications_x000D_
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Subsegments:_x000D_
1) By Small-Sized Backlight LED: 0.5 Inch to 2.0 Inch LEDs, 2.1 Inch to 4.0 Inch LEDs, 4.1 Inch To 7.0 Inch LEDs_x000D_
2) By Mid And Large Sized Backlight LED: 7.1 Inch To 15.0 Inch LEDs, 15.1 Inch to 32.0 Inch LEDs, Above 32.0 Inch LEDs_x000D_
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Which Top Companies are Driving Growth in the Backlight LED Market?_x000D_
Major companies operating in the backlight LED market include Samsung Electronics Co. Ltd., NICHIA CORPORATION, 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, 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., Murata Manufacturing Co. Ltd., TDK Corporation, Panasonic Corporation, Toshiba Corporation, Hitachi Ltd. _x000D_
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Which Regions Will Dominate the Backlight LED Market Through 2029?_x000D_
The countries covered in the backlight led market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada_x000D_
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2.Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning._x000D_
3.Policy Makers & Regulators - To track industry developments and align regulatory frameworks._x000D_
4.Consultants & Analysts - To support market entry, expansion strategies, and client advisory work."
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