Press release
High Brightness LED Market Growth Accelerates: Strategic Forecast Predicts $34.42 Billion by 2029
High Brightness LED Market
What Will the High Brightness LED Industry Market Size Be by 2025?
The market size for high brightness led has seen significant expansion in the past few years. It is projected to increase from $23.59 billion in 2024 to $25.5 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 8.1%. This substantial growth during the historical era can be traced back to factors such as energy-efficiency regulations, decreasing LED costs, increasing environmental consciousness, and government incentives.
What's the Long-Term Growth Forecast for the High Brightness LED Market Size Through 2029?
The market size for high brightness led is predicted to experience a robust expansion in the coming years, escalating to a value of $34.42 billion in 2029, boasting a compound annual growth rate (CAGR) of 7.8%. This surge during the forecasted timeframe can be linked to the rising urbanization trends, the proliferation of smart city projects, growing demand in the automotive lighting sector, increased usage of OLED technology, and IoT application expansion. Other significant trends projected for this period include advancement in horticulture lighting, growth of UV LED applications, incorporation of high brightness LEDs into wearable devices, and an increased presence in the healthcare lighting industry.
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What Are the Key Growth Drivers Fueling the High Brightness LED Market Expansion?
The surge in demand for electronic devices is projected to drive the high-brightness LED market's growth. Electronic devices, which control the electrical current flow for system control and information processing, are witnessing growing demand owing to advancements in technology, lifestyle transformations, burgeoning markets in developing economies, and ecological consciousness. The excellent performance, energy efficiency, and design versatility of HB-LEDs are leveraged by these electronic devices, thus triggering their uptake in consumer electronics and stimulating growth. For example, the Pomodoro Timer, a simple web-based timer platform from Ukraine, reported in August 2022 that the revenue from technical electronic devices hit $14.21 billion in 2022 and is predicted to see a rise of 17% by 2025. Consequently, the escalating demand for electronic devices is fueling the expansion of the high-brightness LED market.
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What Are the Key Trends Driving High Brightness LED Market Growth?
Leading organizations in the high-brightness LED market are concentrating on the creation of innovative LEDs for high-resolution video screens of large size. This approach is aimed at boosting visual performance, energy efficiency, and sturdiness in response to the increased requirement for durable and lively displays, commonly seen in applications like digital signage, sports arenas, and outdoor advertising. These unique LEDs boast top-notch clarity and brightness, crucial for high-resolution large-format displays typically found in digital signage, outdoor billboards, and stadiums. For example, Cree LED, an American LED solutions firm, introduced three novel surface mount diode (SMD) LEDs, primarily created for video screen applications of large-format, high-resolution in February 2023. These innovations strive to improve image quality and dependability across a variety of display settings, like airports, stadiums, command centers, and outdoor signage. All three goods provide superior brightness levels, ensuring vivid colors and easy visibility, even in demanding lighting situations. These LEDs are engineered to endure severe environmental conditions, rendering them appropriate for indoor and outdoor use.
How Is the High Brightness LED Market Segmented?
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 Companies Are Leading the Charge in High Brightness LED Market Innovation?
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
Which Regions Are Leading the Global High Brightness LED Market in Revenue?
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.
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