High Brightness LED Market size revenue to exceed $22bn by next seven years

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High Brightness (HB) LED Market share to exceed
USD 22 Billion by 2023 Global Market Insights
Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Overview

• Global High Brightness (HB) LED Market size was
  evaluated at more than 15 billion for 2015 and
  is predictedto surpass revenue of 22 billion by
  end of 2023 at CAGR of 4.9.Growing government
  focus on power conservation is predicted to drive
  expansion of the industry in future.Increasing
  use of high brightness LED bulbs in heat
  responsive applications like food illumination
  and textile due to infrared radiation absence is
  predicted to promote the industry growth during
  forecast timeframe.
• These high brightness LED (light emitting diode)
  bulbs offer enhanced efficacy in comparison to
  other kinds of bulbs. These equipments are strong
  and are predicted to have greater lifespan as
  compared to traditional incandescent bulbs with
  life time range of 50,000 hours to 100,000 hours.
  LED technology is one of the effective light
  sources and helps in 50 to 70 percent of power
  savings as compared to conventional technologies.
  It also helps in reducing carbon emissions and
  thus propels the demand growth of the industry
  during forecast timeframe.

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Continued

• High life span of the LED bulbs is predicted to
  minimize maintenance and replacement costs. This
  factor drives installation of these equipments at
  comparatively inaccessible locations. Producers
  are now concentrating on low global high
  brightness (HB) LED market cost strategy to fuel
  the demand for bulbs in future.
• But high cost per lumen and highinitial price is
  predicted to hinder the acceptance across the
  sector. High price is owing to comparative low
  lumen power production supply. Cool white LED
  (light emitting diode) bulbs emit extra blue
  light as compared to traditional sources of light
  like sodium bulbs. This light causes pollution
  which can be a serious threat to environment in
  future. All these factors can inhibit the growth
  of industry.

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Application Overview

• The industry is segmented into lightning
  application and mobile application. Lightning
  application is predicted to surpass 7.4 billion
  by registering CAGR of about 6 during forecast
  timeframe. The expansion can be credited to
  rising customer confidence and constant rise in
  down light sales, replacement bulb sales and sale
  of industrial commercial items.
• Mobile application is predicted to touch 3.61
  billion by end of 2023 and register a CAGR of
  5.1 during forecast timeframe. Growing
  acceptance of mobile equipments is predicted to
  fuel the demand of LED bulbs in future.

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Regional Overview

• APAC, with China India, high brightness (HB)
  LEDmarket was evaluated at more than 7 billion
  for 2015 and is predicted to register CAGR of
  5.51 during forecast timeframe. Many countries
  in APAC like Japan and China have taken
  initiatives for power conservation by making use
  of LED technology. For example, China is
  promoting use of LED technology by offering
  incentive and discounts. It is also assisting the
  local LED manufacturing firms to enhance their
  production capacity.
• Europe high brightness (HB) LED market share is
  predicted to display substantial expansion due to
  presence of many key industry players in the
  region. It is predicted to register CAGR of 4.4
  during forecast period.

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U.S. high brightness (HB) LED market size, by
application, 2012-2023 (USD Billion)

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Competitive Trends

• Key industry players profiled in the report
  include Samsung Electronics Company Limited, Cree
  Information, Moritex Corporation, OSRAM GmbH,
  Nichia Corporation, Sharp Corporation, Kingbright
  Electronic Company Limited, Seoul Semiconductor
  Company Limited and Broadcom Limited.

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