Packaged LED Market Key Highlights:
- Market Size (2024): USD 21.78 Billion
- Projected Market Size (2034): USD 34.15 Billion
- CAGR (2023-2034): 4.6%
Pricing Analysis:
- Price Growth
- Regional Variations
Market Historic Sales
- Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
- Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
- Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
- Analysis of revenue contributions from different manufacturers in the market.
Packaged LED Market Definition
In recent years, light-emitting diodes (LEDs) have been gaining popularity compared to conventional lighting technologies like incandescent and fluorescent bulbs. It has lower production costs and significant energy savings, in addition to its outstanding luminosity and color rendering capabilities. According to data from the Office of Energy Efficiency & Renewable Energy, LED adoption resulted in U.S. energy savings of 1.3 quadrillion Btu (quads) in 2018, saving consumers USD 14.7 billion in electricity usage revenues.
The widespread acceptance of LEDs is due to their exceptional luminosity and color rendering capabilities drive the growth of the packaged LED market. Furthermore, there is a rise in the adoption of its products in several industries, such as automotive, healthcare, and others. The growing state initiatives and supportive regulatory framework promote LEDs for environmental benefits and energy-efficient solutions.
IoT, automation, AI, robotics, and increasing plans for smart cities drive the growth of the overall industry. New companies are emerging worldwide in the packaged LED market. Companies are investing heavily in newer technologies, and strategic partnerships and collaborations among key players are on the rise, facilitating knowledge sharing and resource optimization.
Packaged LED Market Segmentation:
By Type
- SMD Packaging
- COB Packaging
By Application
- Lighting
- Automotive
- Display
- Others
Packaged LED Market Companies:
- Nichia
- Osram
- Samsung
- Seoul Semi
- Lumileds
- MLS Lighting
- Everlight
- Nationstar
- Hongli
- Ennostar
- Liteon
- Shenzhen MTC
- LG Innoteck
- DSBJ
- Jufei Optoelectronics
- Refond
- Citizen Electronics.
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