In 2017, the global high brightness (HB) LED market revenue was valued at USD 16.65 billion and is anticipated to grow in the forecast period with a significant growth rate owing to the increasing applications of HB-LEDs across all sectors.
High brightness LEDs have superior luminosity as compared to the traditional LEDs and comparatively consume less power with high heat-dissipation rates. Thus, they are more efficient and have higher life span. The HB-LEDs are mainly used in screen displays of mobile devices, electronics displays of TVs, automobiles, general lighting purposes and others. Increasing demand of HB-LEDs in construction sites and manufacturing industries coupled with growing concerns of energy conservation among the governments of various countries will collectively drive the global high brightness (HB) LED market in the coming years.
The global High Brightness (HB) LED market is projected to reach $ 22 Billion by 2032, growing at a CAGR of 4.9%
Based on the application, the global high brightness (HB) LED market is bifurcated into automotive, general lighting, consumer electronics and signals & signage market segments. Among these, consumer electronics had the highest market share in 2017, owing to the high demand for mobile phones, tablets, television sets and other consumer electronics devices. However, the general lighting segment is anticipated to have the highest compounded annual growth rate of 8.1% during the forecast period of 2018 to 2025. The demand in general lighting category is mostly fuelled by the rise in its applications in households, malls, hospitals, educational institutes, which will have a positive influence on the growth of the high brightness LED market. The applications of HB-LEDs in signals & signage segment of the high brightness (HB) LED market include traffic signal lights, road safety sign boards, signboards for restaurants & shops and others. LEDs have high light to power output and are easy to control and design luminaries as per the requirement.
Geographically, the high brightness LED market is segmented into four regions: North America, Asia-Pacific, Europe, and Latin America & Middle-East Africa. Among these regions, Asia-Pacific region had the highest market share in 2017 due to huge demand in the consumer electronics sector. Countries such as China, Japan, India and South Korea are the major contributors to the Asia-Pacific market. However, the market for North America region is poised to grow with the highest growth rate owing to the decreasing cost of HB-LEDs. Also, the United States have announced new policies and guidelines regarding the use of LEDs and are investing heavily in the research and development of efficient lighting systems. Latin America & Middle-East Africa regions are expected to grow on the account of the presence of a large aftermarket.
The major players in the global high brightness (HB) LED market include American Bright Optoelectronics Corps, Cree, Inc., Philips Lumileds, Moritex Corporation, Samsung Electronics Co Ltd, Osram Opto Semiconductor, Epistar Corp, Nichia Corporation, Toyoda Gosei, Seoul semiconductor and others. Major players have always been focusing on innovation in terms of quality, technology and price to gain a competitive advantage in the high brightness (HB) LED market. Also, these players have always looked forward to implement prominent strategies through collaborations, partnerships, agreements and business expansions. For instance, in October 2018, Osram partnered with Rifiniti, an analytics software company, to provide IoT solutions to the commercial real estate industry.
High Brightness (HB) LED Market Scope
|Revenue forecast in 2032
|$ 22 Billion
|CAGR of 4.9% during 2022-2032
|by Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Toyoda Gosei, Epistar Corp, Moritex Corporation, Cree, Inc., Samsung Electronics Co Ltd, Osram Opto Semiconductor, Seoul semiconductor, Nichia Corporation, American Bright Optoelectronics Corps, and Philips Lumileds.
Key segments of the global high brightness (HB) LED market
Application Overview (USD Billion)
- General Lighting
- Consumer Electronics
- Signals and Signage
Regional Overview, (USD Billion)
- North America
- Asia Pacific
- Latin America & Middle-East Africa (LAMEA)