High Brightness LED Market size forecast to reach USD 22 billion by 2023

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High Brightness LED Market size forecast to reach
USD 22 billion by 2023 Global Market Insights
Inc.
Fuel Cell Market size worth 25.5bn by 2024
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Key Insights from High Brightness LED Market

• The lighting segment generated revenue of USD
  4.63 billion in 2015 and is forecast to grow at
  6 CAGR. Increasing consumer confidence
  accompanied by uninterrupted growing sales of
  replacement lamps, downlights, industrial and
  commercial products has driven segment growth.
• Mobile applications are forecast to grow at a
  CAGR 5.1 from 2016 to 2023. Increasing
  smartphones and related mobile devices demand is
  forecast to further propel growth over the coming
  years.
• Asia Pacific HB LED market is forecast to be the
  most attractive region and is likely to be valued
  at USD over 11 billion by 2023. Availability of
  low priced components paired with encouraging
  Chinese government policies is expected to
  justify the growth impact across the region.

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Continued

• Europe high brightness LED market is predicted to
  be driven by the presence of numerous industries.
• Industry participants are now focusing on
  strengthening their product portfolio, and
  mergers and acquisitions in order to gain
  competitive advantage. Notable companies
  operating in the high brightness LED market
  include Cree, Broadcom, Samsung Electronics,
  Seoul Semiconductor, etc.

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

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360 Analysis

• Application Analysis
• Lighting application is anticipated to exceed USD
  7.4 billion, growing at 6.0 CAGR from 2016 to
  2023. The growth can be attributed to increased
  consumer confidence as well as continuous
  increase in sales of downlights, replacement
  lamps, commercial, outdoor and industrial
  products.
• Regional Analysis
• Asia Pacific high brightness LED market was
  valued at over USD 7 billion in 2015 and is
  forecast to grow at 5.5 CAGR from 2016 to
  2023.Various countries such as Japan, China, and
  the U.S are now taking serious initiatives for
  energy conservation using LED lighting
  technology.
• Competitive Market Share
• Industry participants accumulating high
  brightness (HB) LED market share include Nichia,
  Kingbright Electronic, Broadcom, Cree, and Seoul
  Semiconductor. Other prominent industry players
  encapsulate OSRAM GmbH, Samsung Electronics,
  Sharp, and Moritex.

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