Chicago, Feb. 19, 2024 (GLOBE NEWSWIRE) -- The LED packaging market is estimated to be worth USD 16.0 billion in 2024 and is projected to reach USD 19.4 billion by 2029, at a CAGR of 3.9% during the forecast period. The growing demand for UV LED-based disinfection systems is a key factor that contributes towards the market growth of LED packaging. Moreover, surging adoption towards mini and micro-LED technologies is expected to provide growth opportunities for market players offering LED packaging.
The major players in the LED packaging market with a significant global presence are NICHIA CORPORATION (Japan), ams-OSRAM AG. (Austria), Samsung (South Korea), Lumileds Holding B.V. (US), and Seoul Semiconductor Co., Ltd. (South Korea). The market players have adopted various strategies such as product launches, partnerships, and agreements to strengthen their position in the LED packaging market. The organic and inorganic strategies have helped the market players to expand themselves globally by providing new and advanced packaged LED solutions.
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Major LED Packaging companies include:
- NICHIA CORPORATION (Japan)
- ams-OSRAM AG. (Austria)
- Samsung (South Korea)
- Lumileds Holding B.V. (US)
- Seoul Semiconductor Co., Ltd. (South Korea)
- MLS CO, LTD (China)
- EVERLIGHT ELECTRONICS CO., LTD. (Taiwan)
- SMART Global Holdings, Inc. (US)
- Foshan NationStar Optoelectronics Co. Ltd (China)
- LITE-ON Technology, Inc. (Taiwan)
NICHIA CORPORATION (Japan) offers CSP LEDs, SMD LEDs and COB LEDs. NICHIA CORPORATION focuses on both organic and inorganic growth strategies such as product launches, and partnerships to strengthen its position in the LED packaging market. For instance, in August 2021, NICHIA CORPORATION announced a joint-product development and collaboration with Zumtobel (Austria), an international supplier of holistic lighting solutions, to manufacture LED lighting with advanced human-centric lighting benefits.
Ams-OSRAM AG. (Austria) is a manufacturing company that offers products such as LEDs, lasers, photodetectors, multi chips, sensors, interfaces, lamps & systems, boards, kits and accessories, and application specific integrated circuits (ASICs) and customized solutions. The company focuses on organic and inorganic growth strategies such as product launches and agreements. In September 2023, the company and Malaysian Investment Development Authority (MIDA) announced a collaborative agreement in which MIDA significantly supports the initiative of ams-OSRAM AG to expand in Malaysia.
Samsung (South Korea) is a manufacturing company that offers lighting, automotive, display and mobile and speciality solutions. The company focuses on organic growth strategies such as product launches. For instance, in September 2023, the company announced the launch of a new LED solution for outdoor lighting, 5050 LED. The 5050 LED possess enhanced reliability, performance, and cost efficiency.
Lumileds Holding B.V. (US) is a manufacturing company that offers SMD LEDs, CSP LEDs and COB LEDs. The company focuses on organic growth strategies such as product launches to expand their share in the LED packaging market. For instance, in May 2023, the company announced the broadening of its CoB offerings by introducing LUXEON Core and LUXEON CX and the new LUXEON CS board sizes for enhanced design flexibility.
Seoul Semiconductor Co., Ltd. (South Korea) offers COB LEDs and SMD LEDs that cater to applications such as general lighting and industrial. The company focuses on organic growth strategies such as product launches. For instance, in May 2023, the company announced the launch of the 2nd-generation LED technology, WICOP Pixel microLED technology, for future displays such as WICOP-Pixel-based microLED displays and Low Blue Light (LBL) displays that maintains the health of the users’ eyes.
