High Brightness (HB) LED Market Growth, Opportunities, Industry Applications, Analysis and Forecast To 2023
Category: #business  By Rahul Varpe  Date: 2021-08-02
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High Brightness (HB) LED Market Growth, Opportunities, Industry Applications, Analysis and Forecast To 2023

Will the lighting segment be a pivotal contributor towards high brightness LED market by 2023?

The global high brightness LED market seems to have charted out a progressive growth path worldwide, with the LEDs gaining high precedence over the CFLs. The expanding concerns pertaining to the conservation of energy have directed a large scale demand for HB LED market across the myriad industries.

The high brightness LED devices deliver improved efficiency, expanded life span, and are extremely superior compared to the incandescent lights. The expanded life cycle is anticipated to cut down the replacement cost in tandem with maintaining the crew charges to a greater extent. Estimates have claimed that the device’s life span ranges somewhere between 50,000 to 100,000 hours whilst simultaneously conserving the energy.

Moreover, the product does not emit IR radiations which has led to its high scale adoption in the food and textile illumination.

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As per speculations put forward by Global Market insights, Inc., the worldwide high brightness LED market is depicted to surpass a valuation of USD 22.46 billion by the end of seven years, in terms of revenue.
Which application segment is expected to emerge out as one of the pivotal segments for HB LED industry over 2016-2023?

The global high brightness LED industry is defined by an expansive application spectrum and has probably gained a widespread popularity in the account of the same, over the past few years. On these grounds, the burgeoning sales of replacement lamps, industrial and commercial products, and downlights have prompted the lighting application segment from HB LED market to accrue hefty proceeds in the upcoming years.

Estimates claim that the segment procured a revenue share of USD 4.36 billion in 2015 and is expected to grow at a rate of 6 per cent through 2023.

On the other hand, the HB LED industry from the mobile applications is forecast to foster at a growth rate of 5.2 per cent over 2016-2023, attributing to the proliferation of smartphones and other electronic gadgets across the globe.

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Will the Asia Pacific region evolve as a major revenue pocket for the HB LED market?

Considering the geographical standards, Asia Pacific is stated to stand tall in the regional hierarchy of the HB LED market. It is prudent to mention that the region is likely to be valued at USD 11 billion by the end of the forecast period.  This regional growth can be ascribed to the high feasibility of low priced components in tandem with the supporting government policies. In fact, China HB LED market is estimated to foresee unending government support in terms of the financial backing, vibrant resources, and incentives to improvise the manufacturing capacity.

Additionally, the Chinese government is also keen on developing novel innovations and upstream of raw materials due to the producers high dependency on international players for commercial upstream MOCVD resources.

Meanwhile, the Europe region is predicted to emerge as a lucrative ground for high brightness LED market by 2023, on the accounts of the robust presence of well-known industries across the region.

What are the strategies undertaken by the industry conglomerates across the HB LED industry?

The well-known companies across the HB LED market such as Cree, Samsung Electronics, Broadcom, and others have been tapping on product innovation as a unique strategy, and have been attempting to devise new and novel technologies.

These players are keeping a keen eye on optimizing the product prices with an intent to bolstering the high brightness LED market share over the stipulated timeframe.

Table Of Content

Chapter 1    Methodology and Scope

1.1    Research Methodology

1.1.1    Initial data exploration

1.1.2    Statistical modeling and forecast

1.1.3    Industry insights and validation

1.2    Data Sources

Chapter 2    Executive Summary

2.1    HB LED industry 3600 synopsis, 2012 - 2023

Chapter 3    HB LED Industry Insights

3.1    Industry segmentation

3.2    Industry size and forecast, 2012 - 2023

3.3    Industry ecosystem analysis

3.3.1    Vendor landscape

3.4    HB LED market dynamics

3.4.1    Growth drivers

3.4.1.1  Positive regulatory outlook

3.4.1.2  High replacement demand

3.4.1.3  Growing consumption across application areas

3.4.2    Industry pitfalls & challenges

3.4.2.1 Cost concerns

3.5    Growth potential analysis

3.6    Porter’s analysis

3.7    Key competitor analysis, 2015

3.8    PESTEL analysis


 

 

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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