News

29 March 2010

 

LED market to reach $14.8bn by 2015

The global LED market is projected to grow rapidly to $14.8bn by 2015, driven by increasing demand for efficient and larger electronic displays for TVs, lighting fixtures, notebooks and mobile handsets, according to ‘Light Emitting Diode (LED): A Global Market Report’ from Global Industry Analysts Inc (GIA). The focus on energy conservation is also expected to promote the uptake of LEDs in residential and commercial sectors.

Although high prices restricted the initial use of LEDs to a small group of applications (which included decorative lighting, exit signs, architectural lighting, and entertainment lighting), the current LED market is relatively broad in terms of end-use applications and encompasses notebook PCs, LCD TVs, residential and commercial lighting, handsets, and signals and displays, says GIA. Improvements in luminous efficacy and application technologies for LEDs led to their utilization in backlights, landscape lighting, traffic lights, and automobile lights. In addition, due to rising environmental concerns, most governments are focusing on phasing out incandescent lights and replacing them with energy-efficient LED lights.

Short-term growth is likely to be propelled by the growing popularity of LED TVs and notebooks, while the general lighting segment is expected to drive market growth in the long run, says the report. Mobile phones emerged as the leading end-use market (with more than 25% share of value sales for 2009), while LCD TV is expected to post the fastest growth in terms of volume sales. The market is also expected to benefit from rapid technological advancements that are expected to bring down the number of chips per box as well as the average selling price of LEDs.

Although the global economic crisis impacted the LED market significantly in 2009, leading to a sales decline in major LED end-use sectors such as mobile phones, large outdoor displays and automotive, the decline was partly offset by the increasing use of LEDs in segments such as backlights for notebook PCs and LCD TVs, apart from the lighting sector, concludes the firm.

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