LED Modules And Light Engines Market Significant Profits Estimated to be Generated by 2027
The primary and foremost feature for the use of LED modules and light engines over its straight competitors like light bulbs is that LED modules and light engines are easy to manufacture, more efficient and provides more reliable products than its straight competitors.
LED modules and light engines market gained hype due to boom in LED TV market and monitor backlight market. Some other markets which contribute to the growth of LED modules and light engine market are cell phone flash, architectural lighting and automobile lighting.
LED modules and light engines Market:Drivers and Challenges
With the increasing adoption of smart/connected lighting and LED luminaires and lamps, in different sectors, the use of LED modules and light engines is proliferating. Henceforth, the primary driver for LED modules and light engines market is the use of these products in many applications across sectors like automobile, electronics, healthcare etc. LED modules and light engines are not only used in these sectors but also in broad sectors like commercial sector, residential sector, industrial sector and outdoor sectors which makes it a very vast market with number of opportunities. Moreover, the decline in prices and an improved light quality and flexibility provided by LED modules and light engines drives its growth in the market.
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The major challenge faced by the LED modules and light engines market is that it plays by the rule of one company. The other competitors report that the market is closed due to specification followed of just the one company making it a closed manufacturers' standard. In addition to this, a few of the LED modules and light engines suffer from 120Hz flicker which reduces the efficiency to almost 83%. This impedes the growth of LED modules and light engines market.
LED modules and light engines Market: Segmentation
Segmentation of LED modules and light engines Market on the basis of applications:
The type of applications of the LED modules and light engines tells us about the major sectors the company is working in that is the vast field view.
Segmentation of LED modules and light engines Market on the basis of form factor:
The segmentation on the basis of form factor tell us about the form in which LED modules and light engines are going to be found as the fine product.
Downlights: These have a, comparatively, lower selling price and are more easy to use. Downlights incorporate a higher percentage of LED modules and light engines
Troffers: These are less integrated LED modules and light engines which results into lower costs
High bays and Street lights: These have more integrated LED modules and light engines, and henceforth has higher ASP and slower price declines
LED modules and Light engines Market: Key Players
Some of the key players of LED modules and Light engines Market are Philips Lumileds, Cree, Osram Opto, GE, Everlight, Nichia, Sharp, Toyoda Gosei, Samsung LED, Seoul Semiconductor and LG Innotek.
In January 2015, Nichia and Mitsubishi Chemical reached an agreement on patent cross-licensing related to red phosphor for white LEDs. The patents targeted by the cross-licensing in the agreement which include Nichia’s patents and MCC and NIMS’s patents. The companies also announced that Nichia, Citizen, MCC, and NIMS have reached an agreement to share the U.S. patent, which is one of the basic patents that MCC and NIMS co-own.
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LED modules and light engines Market: Regional Overview
By geography, LED modules and light engines market can be segmented into the following regions namely North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan and Middle East & Africa. Among various regions, the LED modules and light engines Market in North America is expected to dominate during the forecast period owing to the adoption of LEDs and applications including LEDs on a common utility purpose by several industries. Europe, after North America, is expecting a slower growth rate in the LED modules and light engines market because of the lack of manufacturers and a complex technology.
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