Market Highlights —
High brightness LED is an advanced LED type with higher luminosity output that can withstand higher current levels and power dissipation. These light emitting diodes provides well distributed and uniform lighting output while using lower energy. Owing to their high bay lighting property they are ideal for manufacturing units, warehouses, and outdoor fields that require multiple distributions with suitability to varied color temperature.
High Brightness LED market is expected to grow from USD 17 billion in 2017 to USD 23 billion by 2023, at a compound annual growth rate (CAGR) of 4.73% during the forecast period. The growing need for cost-effective, energy-efficient, and effective large screen backlighting coupled with growing focus on photovoltaic technology to promote energy conservation drive the growth of high brightness LED automation market.
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The prominent players in the High Brightness LED market have been identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. The major vendors of the market are Epistar Corporation (Taiwan), Cree, Inc. (US), Lumileds Holding B.V. (Netherland), Moritex Corporation (Japan), Samsung Electronics Co Ltd (South Korea), Seoul semiconductor (South Korea), Osram Opto Semiconductors GmbH (Germany), American Bright Optoelectronics Corps (US), Nichia Corporation (Japan), and Toyoda Gosei (Japan).
These players are adopting strategies such as mergers & acquisitions, partnerships & collaborations, and new product launches to increase their shares in the global High Brightness LED market.
High Brightness LED market is segmented based on application and region.
Based on application, the market is segmented into automotive lighting, general lighting, LCD backlighting, mobile, signals & signage, others.
By region, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World.
The global market for high brightness LED is estimated to grow at a notable rate during the forecast period from 2018 to 2023. The geographical analysis of high brightness LED market is done for North America, Europe, Asia-Pacific, and the rest of the world.
Asia-Pacific is expected to dominate the high brightness LED market from 2018 to 2023 owing to growing market for Television, tablets, PCs, and mobile devices that use HB LED. Furthermore, there is high concentration of market players and easy availability of proficient technical expertise. The region is estimated to grow at the highest CAGR during the forecast period.
The high brightness LED market has witnessed the high demand from energy conservation projects being implemented globally and green construction. Key players are adopting strategies such as mergers & acquisitions, partnerships & collaborations, and new product launches to increase their shares in the global High Brightness LED market. XX% of the total company developments were a part of partnership & collaboration whereas, new product launches and product enhancements accounted for XX% of the total strategic developments adopted by the key players in the market.
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