Strategies Unlimited reports global packaged LED market to reach $22B by 2019
Mountain View, CA — Strategies Unlimited, which has researched the LED industry for over two decades, just published its latest report investigating the global packaged LED market. The Worldwide Market for LEDs: Market Review and Forecast 2015 analyzes the market for packaged LEDs used in display backlighting, automotive lighting, mobile applications, signs, lighting and other applications; and provides detailed forecasts for many applications used within these sectors. Analysis was also done by material and package type including InGaN, InGaAlP, RGB and low power, mid power, high power and super high power LEDs for each sector. The report also contains market shares for the top 25 packaged LED companies with a detailed supplier analysis by region.
According to Strategies Unlimited, in 2014 the total packaged LED market grew 7.6% to reach revenues of $15.6 billion. Lighting made up 34% of total revenues, which was almost the same as display backlighting and mobile applications combined at 35%. The lighting share is expected to reach 45% of total revenues by 2019 with the largest growth of any sector at a 5-year CAGR of 14.3%.
The lighting applications that will see the largest growth are replacement lamps, commercial luminaries, and outdoor luminaires. According to Stephanie Pruitt, senior research analyst at Strategies Unlimited, “It’s no surprise that lighting is the largest sector and will remain the largest sector throughout the forecast. Within lighting applications, the general lighting categories make up nearly 75% of the total lighting revenues. The replacement lamps market and luminaire market are very large, and as LED adoption grows, packaged LED revenues in these segments will also grow.”
Prices for packaged LEDs in lighting saw some steep declines from 2013 to 2014. Most suppliers were seeing price declines of around 20%, while some were reporting declines as steep as 25%-30%, especially so for chip-on-board packages (COBs). However, despite these price declines, the continued adoption of LED lighting in homes and commercial applications has allowed for the largest growth of any sector.
Contact:
Tim Carli, Sales Director - Strategies Unlimited
+1-650-946-3163
E-mail:
Web site:
www.strategies-u.com
Locate packaged LED vendors in the LEDs Magazine Suppliers Directory
Submit new products, case studies/projects, and other press releases at http://www.ledsmagazine.com/content/leds/en/addcontent.html and http://www.ledsmagazine.com/content/leds/en/iif/add.html.
More from Strategies Unlimited:
Strategies Unlimited forecasts COB LED market to grow to $4.4B in 2020
Strategies Unlimited forecasts LED luminaires to comprise 60% of global luminaire shipments by 2022