Reports
Global LED Market: By Type: Pinned LED, Surface Mount LED (SMD LED), Chip on Board LED; By Technology: Basic LED, Micro LED, High Brightness LED, OLED, Ultra Violet LED, Polymer LED, By Application; Regional Analysis; Historical Market and Forecast (2018-2028); Competitive Landscape; Industry Events and Developments
Global LED Market Outlook
The global LED market is being driven by the rising LED lighting industry, which attained a value of USD 53 billion in 2020. The global LED lighting market is expected to grow at a CAGR of 11.8% in the forecast period of 2023-2028.
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The Asia Pacific Market to Significantly Contribute to the Overall Market Growth of LED, Led by Favourable Government Policies
The global market for LED is being driven by the rising number of consumers preferring LEDs over conventional CFL and CCFL due to the advanced features offered by the LEDs. In addition, LED is a cost-effective solution for any lighting and other applications purposes like backlighting in automotive lighting and large screen displays, among others. Such vast applications of LED are providing a boost to the market growth of LED, especially in the Asia Pacific region, which is fuelled by a robustly increasing population. The overall LED industry is positively influenced by the rise in utility rebates, increasing focus by the government on energy saving solutions, along with the expanding display and large screen backlighting market.
Increasing Constructional Activities to Bolster the Market Demand for LED
The requirement for efficient lighting at various construction sites is increasing as the right lighting reduces the chance of mishaps that takes place due to unclear vision, thereby fuelling the market growth of LED across the globe. Moreover, the long lifetime of LEDs spanning 50,000 hours and beyond, if properly engineered, is shifting consumer preference from traditional lighting source to LEDs, consequently helping the market to advance further over the upcoming years. With features like extraordinary high-quality lighting, minimal maintenance, and reduced energy costs, the demand for LED is expected to propel in various applications, thereby boosting overall market expansion. Additionally, the usage of LED to gain large energy savings is attracting consumers to adopt LED over small and larger construction sites.
LED: Market Segmentation
LEDs represent electronic components that can convert electric energy into light. LEDs stay much cooler than incandescent lights, reducing the risk of combustion or burns. As they are made with epoxy lenses, they are highly resistant to breakage. Besides this, they are energy-efficient, long-lasting, and easy to install.
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On the basis of type, the market is divided into:
- Pinned LED
- Surface Mount LED (SMD LED)
- Chip on Board LED
- Others
Based on technology, the market can be segmented into:
- Basic LED
- Micro LED
- High Brightness LED
- OLED
- Ultra Violet LED
- Polymer LED
- Others
On the basis of application, the market is categorised into:
- Lighting
- Automotive
- Electronic Devices
- Signal and Signage
- Others
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Extensive Applications of LED to Aid the Market Growth of LED
The market for LED is being driven by the various applications of LED lights in activities, such as photography, interior designing, and other uses. Further, due to the COVID-19 outbreak, the LED display growth has increased due to their instant visibility and attraction, which helps a shop to get easily spotted as consumers are now wary of traveling as well as entering new shops. In addition, over the past few decades, LED has witnessed a rise in the integration of concepts like AI and IoT, which is helping the light manufacturing companies to extend their capacities and produce innovative products. Moreover, due to the currently prevalent WFH environment to curb the coronavirus outbreak, electronic devices such as tablets, LED TVs, laptops, and mobiles, are witnessing a growing demand, thus, propelling the market growth further. Also, the adoption of signals and signages from various companies, institutions, or governments, are expected to increase over the forecast period. Thereby, propelling the market growth for LEDs.
Key Players in the Global LED Market
The report gives a detailed analysis of the following key players in the global LED market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- OSRAM Licht AG
- Nichia Corporation
- Signify N.V.
- Lumileds Holding B.V.
- Seoul Semiconductor Co Ltd
- LG Electronics Inc.
- Samsung Electronics Co. Ltd.
- PlayNitride Inc.
- Cambridge Display Technology Limited.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Technology, Application, Region |
| Breakup by Type | Pinned LED, Surface Mount LED (SMD LED), Chip on Board LED, Others |
| Breakup by Technology | Basic LED, Micro LED, High Brightness LED, OLED, Ultra Violet LED, Polymer LED, Others |
| Breakup by Application | Lighting, Automotive, Electronic Devices, Signal and Signage, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | OSRAM Licht AG, Nichia Corporation, Signify N.V., Lumileds Holding B.V., Seoul Semiconductor Co Ltd, LG Electronics Inc., Samsung Electronics Co. Ltd., PlayNitride Inc., Cambridge Display Technology Limited., Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Industry Opportunities and Challenges
8 Global LED Market Analysis
8.1 Key Industry Highlights
8.2 Global LED Historical Market (2018-2022)
8.3 Global LED Market Forecast (2023-2028)
8.4 Global LED Market by Type
8.4.1 Pinned LED
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Surface Mount LED (SMD LED)
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 Chip on Board LED
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.4.4 Others
8.5 Global LED Market by Technology
8.5.1 Basic LED
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Micro LED
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.3 High Brightness LED
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.4 OLED
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Ultra Violet LED
8.5.5.1 Market Share
8.5.5.2 Historical Trend (2018-2022)
8.5.5.3 Forecast Trend (2023-2028)
8.5.6 Polymer LED
8.5.6.1 Market Share
8.5.6.2 Historical Trend (2018-2022)
8.5.6.3 Forecast Trend (2023-2028)
8.5.7 Others
8.6 Global LED Market by Application
8.6.1 Lighting
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Automotive
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Electronic Devices
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.6.4 Signal and Signage
8.6.4.1 Market Share
8.6.4.2 Historical Trend (2018-2022)
8.6.4.3 Forecast Trend (2023-2028)
8.6.5 Others
8.7 Global LED Market by Region
8.7.1 Market Share
8.7.1.1 North America
8.7.1.2 Europe
8.7.1.3 Asia Pacific
8.7.1.4 Latin America
8.7.1.5 Middle East and Africa
9 Regional Analysis
9.1 North America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.1.3 Breakup by Country
9.1.3.1 United States of America
9.1.3.2 Canada
9.2 Europe
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.2.3 Breakup by Country
9.2.3.1 United Kingdom
9.2.3.2 Germany
9.2.3.3 France
9.2.3.4 Italy
9.2.3.5 Others
9.3 Asia Pacific
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.3.3 Breakup by Country
9.3.3.1 China
9.3.3.2 Japan
9.3.3.3 India
9.3.3.4 Australia
9.3.3.5 Others
9.4 Latin America
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
9.4.3 Breakup by Country
9.4.3.1 Brazil
9.4.3.2 Argentina
9.4.3.3 Mexico
9.4.3.4 Others
9.5 Middle East and Africa
9.5.1 Historical Trend (2018-2022)
9.5.2 Forecast Trend (2023-2028)
9.5.3 Breakup by Country
9.5.3.1 Saudi Arabia
9.5.3.2 United Arab Emirates
9.5.3.3 Nigeria
9.5.3.4 South Africa
9.5.3.5 Others
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyers Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Competitive Landscape
12.1 Market Structure
12.2 Company Profiles
12.2.1 OSRAM Licht AG
12.2.1.1 Company Overview
12.2.1.2 Product Portfolio
12.2.1.3 Demographic Reach and Achievements
12.2.1.4 Certifications
12.2.2 Nichia Corporation
12.2.2.1 Company Overview
12.2.2.2 Product Portfolio
12.2.2.3 Demographic Reach and Achievements
12.2.2.4 Certifications
12.2.3 Signify N.V.
12.2.3.1 Company Overview
12.2.3.2 Product Portfolio
12.2.3.3 Demographic Reach and Achievements
12.2.3.4 Certifications
12.2.4 Lumileds Holding B.V.
12.2.4.1 Company Overview
12.2.4.2 Product Portfolio
12.2.4.3 Demographic Reach and Achievements
12.2.4.4 Certifications
12.2.5 Seoul Semiconductor Co Ltd
12.2.5.1 Company Overview
12.2.5.2 Product Portfolio
12.2.5.3 Demographic Reach and Achievements
12.2.5.4 Certifications
12.2.6 LG Electronics Inc.
12.2.6.1 Company Overview
12.2.6.2 Product Portfolio
12.2.6.3 Demographic Reach and Achievements
12.2.6.4 Certifications
12.2.7 Samsung Electronics Co. Ltd.
12.2.7.1 Company Overview
12.2.7.2 Product Portfolio
12.2.7.3 Demographic Reach and Achievements
12.2.7.4 Certifications
12.2.8 PlayNitride Inc.
12.2.8.1 Company Overview
12.2.8.2 Product Portfolio
12.2.8.3 Demographic Reach and Achievements
12.2.8.4 Certifications
12.2.9 Cambridge Display Technology Limited.
12.2.9.1 Company Overview
12.2.9.2 Product Portfolio
12.2.9.3 Demographic Reach and Achievements
12.2.9.4 Certifications
12.2.10 Others
13 New Technologies
14 Industry Events and Developments
List of Key Figures and Tables
1. Global LED Market: Key Industry Highlights, 2018 and 2028
2. Global LED Historical Market: Breakup by Type (USD Billion), 2018-2022
3. Global LED Market Forecast: Breakup by Type (USD Billion), 2023-2028
4. Global LED Historical Market: Breakup by Technology (USD Billion), 2018-2022
5. Global LED Market Forecast: Breakup by Technology (USD Billion), 2023-2028
6. Global LED Historical Market: Breakup by Application (USD Billion), 2018-2022
7. Global LED Market Forecast: Breakup by Application (USD Billion), 2023-2028
8. Global LED Historical Market: Breakup by Region (USD Billion), 2018-2022
9. Global LED Market Forecast: Breakup by Region (USD Billion), 2023-2028
10. North America LED Historical Market: Breakup by Country (USD Billion), 2018-2022
11. North America LED Market Forecast: Breakup by Country (USD Billion), 2023-2028
12. Europe LED Historical Market: Breakup by Country (USD Billion), 2018-2022
13. Europe LED Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Asia Pacific LED Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Asia Pacific LED Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Latin America LED Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Latin America LED Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Middle East and Africa LED Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Middle East and Africa LED Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Global LED Market Structure
Key Questions Answered in the Report
In 2020, the global LED market attained a value of nearly USD 53 billion.
The market is projected to grow at a CAGR of 11.8% between 2023 and 2028.
The major industry drivers include the growing demand for electronics devices, adoption of signals and signages from various companies, institutions, or government, increasing focus by the government on energy saving solutions, expanding display and large screen backlighting market, and rising number of consumers preferring LEDs over conventional CFL and CCFL.
The key market trends guiding the growth of the industry include the easy visibility and attraction of the LED lights outside shops which enables the consumers to spot the new shop easily and various applications of LED lights in activities, such as photography, interior designing.
The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with Asia Pacific accounting for significant share in the market.
Pinned LED, surface mount LED (SMD LED), and chip on board LED, among others are the types of LEDs in the market.
Basic LED, micro-LED, high brightness LED, OLED, ultra violet LED, and polymer LED, among others, are the technologies in which the industry can be segmented into.
Lighting, automotive, electronic devices, signal and signage, among others are the different applications of the product.
The major players in the industry are OSRAM Licht AG, Nichia Corporation, Signify N.V, Lumileds Holding B.V., Seoul Semiconductor Co Ltd., LG Electronics Inc., Samsung Electronics Co. Ltd., PlayNitride Inc., and Cambridge Display Technology Limited., among others.
Analyst Review
The global LED market attained a value of USD 53 billion in 2020 driven by the various applications of LED lights in activities, such as photography and interior designing. Aided by the growing demand for electronics devices and adoption of signals and signages from various companies, institutions, or government, the market is projected to grow at a CAGR of 11.8% between 2023 and 2028.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Pinned LED, surface mount LED (SMD LED), and chip on board LED, among others are the types of LEDs in the market. Based on technology, the market can be segmented into basic LED, micro-LED, high brightness LED, OLED, ultra violet LED, and polymer LED, among others. Based on applications, the market can be segmented lighting, automotive, electronic devices, signal and signage, among others. The major regional markets for global LED market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa, with Asia Pacific accounting for significant share in the market. The key players in the above market include OSRAM Licht AG, Nichia Corporation, Signify N.V, Lumileds Holding B.V., Seoul Semiconductor Co Ltd., LG Electronics Inc., Samsung Electronics Co. Ltd., PlayNitride Inc., and Cambridge Display Technology Limited., among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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