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LED market "to surpass $5.6 billion in 2008"

A report from Communications Industry Researchers (CIR) predicts that the LED market will grow from $3.2 billion to $5.6 billion over the next five years.

The global LED market will grow from $3.2 billion in 2004 to $5.6 billion in 2008.

That’s the forecast from Virginia-based industry analyst CIR, whose new report on the LED market also predicts rapid growth for high-brightness LEDs (HB-LEDs) and in particular for ultra high brightness LEDs (UHB-LEDs) from 2006 onwards.

By 2008, it says that the HB-LED market will be worth $2.64 bn, while UHB-LEDs will have gained a 22% share of the global LED market.

“General illumination will be the hot growth application and will reach $844 million in sales by 2008,” said CIR.

The analyst is expecting next year to be a pivotal one in the LED market: “Rapid cost reduction will begin in 2004, which will enable unit volumes to soar,” said the company.

Standard and indicator LEDs will make up the bulk of shipments initially, but HB-LEDs and UHB-LEDs will account for a significant majority of revenues by 2008, predicted CIR.

Automotive, signage and backlighting applications will comprise over 60% of the market over the 2004-2008 period, concluded the report.

More details of the report's contents are available at the CIR website.

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