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

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High brightness LED market size is projected to be valued at USD 22.46 billion by 2023; as per a new research report by Global Market Insights, Inc. Rising regulatory concerns regarding conservation of energy is expected to propel global HB LED market growth over the forecast period. These devices offer enhanced effectiveness, longer life span, and are robust as compared to incandescent lights. Their life span ranges between 50,000 and 100,000 hours, with energy considerable energy savings over traditional counterparts. Request for a sample of this research report @ – PowerPoint PPT presentation

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


1
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
2
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.

3
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.

4
U.S. high brightness (HB) LED market size, by
application, 2012-2023 (USD Billion)

5

Browse Full Market Research Report On High
Brightness LED Market _at_ goo.gl/izB2v0 Request
for a Sample of this Research Report _at_
https//www.gminsights.com/request-sample/detail/4
01
6
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.


7
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