Dublin, Oct. 30, 2023 (GLOBE NEWSWIRE) -- The "High-Brightness LED Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global high-brightness LED (HB-LED) market, valued at US$ 26.1 billion in 2022, is expected to grow to US$ 37.5 billion by 2028, with a compound annual growth rate (CAGR) of 6% during 2023-2028.
Key drivers of this growth include the demand for energy-efficient lighting solutions, government initiatives supporting energy conservation, and the increasing sales of consumer electronics.
Key Market Insights
High-brightness LEDs are advanced LEDs known for their high luminosity, ability to withstand higher current levels, and energy efficiency. Key market insights include:
- Energy Efficiency: The demand for energy-efficient lighting solutions is increasing due to concerns about carbon emissions, making HB-LEDs a popular choice.
- Government Initiatives: Government initiatives promoting energy conservation and green construction practices are driving market growth.
- Consumer Electronics: Sales of consumer electronics like laptops, mobiles, and televisions are contributing to market expansion.
- Innovations: Continuous product innovations, launches, and reduced prices of HB-LED components are fueling market growth.
- M&A Activity: Major players in the market are adopting growth strategies such as mergers and acquisitions (M&A), further boosting the market.
Market Segmentation
The report provides comprehensive market analysis and segmentation, including:
- Application: Automotive Lighting, General Lighting, Backlighting, Mobile Devices, Signals and Signage, and Others.
- Distribution Channel: Offline and Online.
- Indoor and Outdoor Application: Indoor and Outdoor.
- End-Use Sector: Commercial, Residential, Industrial, and Others.
Competitive Landscape
Key players in the global high-brightness LED market include Broadcom Inc., Cree LED, Epistar Corporation, Lumileds Holding B.V., Moritex Corporation, Nichia Corporation, Osram Opto Semiconductor, Samsung Electronics Co. Ltd., and Seoul Semiconductor Co. Ltd., among others.
Key Questions Answered
The report addresses key questions about the global high-brightness LED market:
- Market performance and growth projections.
- Impact of COVID-19 on the market.
- Key regional markets.
- Market segmentation by application, distribution channel, indoor and outdoor application, and end-use sector.
- Competitive landscape and key players.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $26.1 Billion |
| Forecasted Market Value (USD) by 2028 | $37.5 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/okkvts
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