LED Chips market is expected to register a CAGR of over 17.76% during the forecast period 2018 – 2023. The report profiles the Lateral Chip, Vertical Chip, and Flip Chip providers of LED Chips Market for various End-users industries.
LED technology has captured the lighting industry by offering small and efficient lighting solutions to a different set of End Users. In the past decade, features such as enhanced efficiency, power saving, and compared to traditional lighting solutions, for instance, bulbs which have played a significant role in increasing the demand for LED’s. Moreover, the design process of the LED’s chips has directly influenced factors such as temperature, luminescence efficiency, wavelength, has reduced the overall operational costs. Hence with the improvements in the lighting technology of power LED chips, there is increased adoption of the LED solutions. Thus, with the rapid enhancement in the applications of LED solution, the innovation and consumption is expected to increase in the upcoming years, driving the LED Chips market.
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Increasing Demand from Commercial Segment To Drive The Market
The automotive sector position has largely been optimistic, driven by a shift in consumer demand towards the longer term, cost-effective automobiles. Moreover, recent changes in regulations aimed at reducing emissions may have a telling impact on the industry. Manufacturers have been proactively seeking to differentiate their products from their rivals by adopting next-generation solutions, such as LED lighting solutions. In addition to this, higher efficiency metrics for LED lights has enabled them to cut down on the number of light units deployed as a part of the lighting systems. Also, the increasing prominence of LEDs can also lead to the adoption of smart lighting systems (connected lighting) in industries. Given the flexibility of LEDs regarding color variation and brightness, it makes more sense for connected systems to use LEDs than traditional lighting sources.
Asia Pacific to Appear as one of the Leading Region in the LED Chips Market
Asia Pacific is experiencing a remarkable shift in lighting systems solutions where companies in this regions have been identified to adopt LED lights or smart connected lights (Smart LED’s) in manufacturing and industries plants compared to its counterparts such as luminous, and Linear Fluorescent Lamps are owing to the improved efficiency of LED lighting systems.
Over the last years, China has been gradually reducing the sale of incandescent light bulb products to, ensure that the outdated technology is soon replaced by something more profitable, advanced and environment-friendly. Recently the government of India has supported the plan of deploying cost-effective LED’s across the country among different end-users. According to the Indian government, LED adoption is driving to an annual energy savings of over 3,350 million kWh and resulting in avoidance of over 6,725 MW of peak demand.
For instance, the World Bank approved a USD 220 million loans and a USD 80 million guarantees for the India Energy Efficiency Scale-Up Program. This Program is to be implemented by the Energy Efficiency Services Limited (EESL), which will help to scale up the deployment of energy saving measures in public sectors and residential. As other countries in the region are expected to follow suit, the demand for LED’s is expected to increase.
Key developments in the market
Mar 2018: Samsung has enhanced the Chip-Scale LED Package Line-up by doing the revamping of FEC LED’s packages to be the industry’s highest light efficacy levels, to suit a wider range of lighting applications.
Nov 2017: Osram’s new LED Chip Factory goes into Operation. This investment in Kulim attests to the technology shift and the transition to becoming a high-tech corporation.
OSRAM Opto Semiconductors , Nichia, Cree , Philips Lumileds Lighting, Epistar Corporation, SemiLEDS, Bridgelux Inc., TOYODA GOSEI Co., Seoul Semiconductors, Samsung Electronics, Dowa Electronics Materials Co Ltd, Epistar Corporation, Formosa Epitaxy, Goldeneye INC.
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Provides latest insights into Global LED Chips Market.
Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
To understand the dominating technology in the market.
The region that is expected to witness the fastest growth during the forecast period.
Identify the latest developments, market shares and strategies employed by the major market players.
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