The global high brightness (HB) LED market value is anticipated to reach USD 29.44 billion in 2025 owing to growing number of LED applications in various sectors such as automobile, consumer electronics, manufacturing, advertising and others. Additionally, technological advancements in LED technology have led to a substantial decrease in the costs which, in turn will have a positive impact on the overall high brightness (HB) LED market.
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High brightness (HB) LEDs are power & cost efficient, robust and have more lifespan than other lighting types. They save up to 50% to 70% of energy over traditional technologies and have almost negligible maintenance costs thus, driving the interests of many industries especially, heat sensitive applications such as food illumination and textile.
The global high brightness (HB) LED market is further bifurcated on the basis of its application into: automotive, general lighting, consumer electronics and signals & signage market segments. Among these, the general lighting segment is expected to grow with the highest CAGR of 8.1% in the forecast period of 2018 to 2025. Growing demand of HB-LED for general lighting purposes such as in the malls, households, and hospitals will propel the growth of general lighting segment within the high brightness (HB) LED market. However, in 2017, consumer electronics had the highest market share and is expected to dominate the high brightness (HB) LED market in the forecast period owing to its vast applications in smartphones, tablets, television and other consumer electronic devices.
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As opposed to the traditional fluorescent lamps, LED lights lack mercury which is a hazardous element. Though, there are some poisonous substance present in LED light, but is in less quantity and considered an eco-friendly alternative to traditional fluorescent lamps.
Based on the geography, the high brightness (HB) LED market is divided into four regions: Asia-Pacific, Europe, North America and Latin America & Middle-East Africa. Asia-Pacific region dominated the market in 2017 and will continue to do so in the forecast period owing to the large LED production in the countries of China, Japan and South Korea coupled with large consumer base in the region. North America region is anticipated to grow with the highest growth rate in the forecast period due to growing awareness of energy conservation among the consumers and government initiatives with regard to the usage of LEDs. Europe region is also witnessing a boom in demand for LED owing to the government initiatives and increasing usage of ultra-modern lighting in various industries, hence, driving the global high brightness (HB) LED market.
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 are the leading players present within the global high brightness (HB) LED market. Manufacturers have started targeting major industry players, brands as well as patents, for reinforcing overseas distribution channels.
Key segments of the global high brightness (HB) LED market
Application Overview, 2015-2025 (USD million)
• General Lighting
• Consumer Electronics
• Signals and Signage
Regional Overview, 2015-2025 (USD million)
• North America
• Asia Pacific
• Latin America & Middle-East Africa (LAMEA)
Some Points from TOC:
1. Executive Summary
2. Research Methodology
3. Market Outlook
4. Global High Brightness (HB) LED Market Overview, by Application
5. Global High Brightness (HB) LED Market Overview, by Region
6. Company Profiles
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