High-Brightness LED Market 2022-27: Global Industry Size, Share, Trends, Growth and Forecast

 The latest research study “High-Brightness LED Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the Global High-Brightness LED Market size reached US$ 24.51 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 36.18 Billion by 2027 exhibiting a CAGR of 6.50% during 2022-2027.

Covid-19 Impact: 

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Industry Definition and Application:

A high-brightness LED (HB-LED) is an advanced LED with a higher luminosity and can withstand additional current levels and power depletion. It consumes one watt of power to produce more than 50 lumens, which results in bright light output. It is widely utilized in tubes and bulbs, signs and signals, and displays of mobiles and televisions due to its longer lifespan, improved dimmability, and efficiency. In addition, these lights can save up to 50% to 70% of energy consumption and reduce carbon emissions than conventional lights. Consequently, high-brightness LEDs are widely replacing the standard LED luminaires in various lighting applications. 

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High-Brightness LED Market Trends and Drivers: 

The market is primarily driven by the escalating demand for energy-efficient durable lighting solutions due to the growing concerns regarding the high levels of carbon emissions. In addition, the implementation of favorable government initiatives to support energy conservation and green construction practices represents another major growth-inducing factor. 

Apart from this, HB-LEDs are beneficial in general lighting and automotive applications as they work efficiently for prolonged operating hours at low maintenance costs. This, coupled with the escalating sales of consumer electronics, such as laptops, mobiles, and televisions, is providing a positive thrust to market growth. 

Moreover, the market is further driven by continual product launches and the reducing prices of HB-LED components. Besides this, the increasing mergers and acquisitions (M&A) and research and development (R&D) activities conducted by key players are also propelling market growth.

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High-Brightness LED Market Report Scope

Report Coverage

Details

Market size value in 2021

US$ 24.51 Billion

Market forecast in 2027

US$ 36.18 Billion

Growth Rate

CAGR of 6.50%from 2022 to 2027

Base year for estimation

2021

Historical data

2016-2021

Forecast period

2022-2027

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Application, Distribution Channel, Indoor and Outdoor Application and End-use Sector.

Regional scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa

Key companies profiled

Broadcom Inc., Cree LED, Epistar Corporation, Lumileds Holding B.V., Moritex Corporation, Nichia Corporation, Osram Opto Semiconductor, Samsung Electronics Co. Ltd. and Seoul Semiconductor Co. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Report Segmentation: 

The report has been segmented the market into following categories:

Breakup by Application:

Automotive Lighting

General Lighting

Backlighting

Mobile Device

Signals and Signage

Others

 Breakup by Distribution Channel:

Offline

Online

 Breakup by Indoor and Outdoor Application:

Indoor

Outdoor

 Breakup by Breakup by End-Use Sector:

Commercial

Residential

Industrial

Others

By Geography:

North America

o United States

o Canada

Asia-Pacific

o China

o Japan

o India

o South Korea

o Australia

o Indonesia

o Others

Europe

o Germany

o France

o United Kingdom

o Italy

o Spain

o Russia

o Others

Latin America

o Brazil

o Mexico

o Others

Middle East and Africa

List of Major Key Players: 

The major players in the market are Broadcom Inc., Cree LED, Epistar Corporation, Lumileds Holding B.V., Moritex Corporation, Nichia Corporation, Osram Opto Semiconductor, Samsung Electronics Co. Ltd. and Seoul Semiconductor Co. Ltd..

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Source: Financial Content

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