News Article
LED market worth $8.2 billion in 2014
GLOBAL MARKET FOR LIGHT-EMITTING DIODES FOR LIGHTING APPLICATIONS TO BE WORTH $8.2 BILLION IN 2014
According to a new technical market research report, LIGHT-EMITTING DIODES FOR LIGHTING APPLICATIONS (SMC018C) from BCC Research (www.bccresearch.com), the global market for light-emitting diodes (LEDs) is an estimated $5.4 billion in 2009, but is expected to increase to $8.2 billion in 2014, for a 5-year compound annual growth rate (CAGR) of 8.7%.
The second-largest segment of the market, display backlighting, is expected to reach nearly $1.6 billion in 2014, after increasing at a CAGR of 11.1% from the estimated 2009 value of $933 million.
The automotive segment is estimated to be worth nearly $267 million in 2009, and is expected to grow at a CAGR of 11.5% to reach more than $1.3 billion in 2014.
General illumination is the fastest-growing segment, with a 5-year CAGR of 16.4%. Its value is estimated at nearly $565 million in 2009 and is expected to grow to $1.2 billion in 2014.
A solid-state lighting initiative has been in place for 10 years and is targeted at replacing traditional lighting products, such as bulbs, with LEDs. BCC Research provides a comprehensive analysis of the progress to date and its overall market potential.
High-brightness light-emitting diodes operate much more efficiently than traditional light bulb products. They use a fraction of the power needed for bulb technology, have much longer operating lifetimes, and contain no substances that will harm the environment. Different material structures are used to fabricate these devices, and their fabrication methods are unique.
This study will be of interest to those in the photonics industry, manufacturers of solid-state devices, microelectronic manufacturers, those involved with automotive and transportation lighting systems, makers of mobile devices, traffic planners, municipal administrators, and those involved with general illumination in homes, offices, and industrial locations. The report also will be of interest to home designers, builders, and companies engaged in the manufacture of deposition equipment.
