High Brightness (HB) LED Market – Global Industry Analysis Report, Share, Size, Growth, Price Trends and Forecast, 2023

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High Brightness (HB) LED Market Global Industry
Analysis Report, Share, Size, Growth, Price
Trends and Forecast, 2016 2023 Fractovia.org
Fuel Cell Market size worth 25.5bn by 2024
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Overview

• According to a new study by Global Market
  Insights Inc., High Brightness LED Market size is
  anticipated to surpass USD 22 billion, at 4.9 by
  2023. Growing awareness and government
  initiatives concerning energy conservation are
  likely to propel the demand soon. The report
  comprises of an overview of the market with
  in-depth analysis of key factors and key trends
  driving the market. It also includes the current
  market scenario, forecast, and estimations for
  the projected period.
• High brightness LED bulbs are robust, efficient
  and are likely to have a greater life span as
  compared to other types. They aid more than 50
  energy savings over conventional technologies.
  All these features are anticipated to boost the
  market demand in the next few years. Longer life
  span leads to low replacement costs. Low prices
  HB LED will be a key strategy for manufacturers
  to further the demand over the projected time
  frame. Increasing use in heat sensitive
  applications including textile and food
  illumination is poised to impel HB LED market
  growth over the predicted period. The high
  initial cost may hamper the acceptance and growth
  across the industry.

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Continued

• Lighting application is expected to surge and
  register more than USD 7.4 billion by 2023.
  Factors like increased consumer awareness and
  consistent growth in sales of replacement lamps,
  downlights, commercial, industrial and outdoor
  products are likely to drive the demand.
• The mobile segment is anticipated to reach USD
  3.60 billion at a growing CAGR of 5.1 by 2023.
  The proliferation of mobile devices is likely to
  leverage the demand soon.
• Asia Pacific led the HB LED market segment and is
  projected to register growth at 5.5 CAGR in next
  seven years. Support and initiatives for energy
  conservation in various countries are likely to
  create growth avenues in the market over the
  forecast period. Europe market share is expected
  to witness exponential growth at 4.4 CAGR by
  2023.

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

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Brightness (HB) LED Market _at_ http//bit.ly/2f6IWHB
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Continued

• The report analyzes the competitive landscape of
  the HB LED market with company profiles, key
  strategies, market trends listed in the report.
  Key players in the market include Kingbright
  Electronic, Nichia, Cree, Seoul Semiconductor and
  Broadcom.
• Other noteworthy names include OSRAM GmbH, Sharp,
  Samsung Electronics, and Moritex. Patents and
  brands are key focus areas of manufacturers to
  reinforce overseas distribution channels and perk
  up the patent portfolio. Lowering HB LED market
  price trend is likely to help overcome growth
  challenges over the projected period.

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