High-Brightness LED Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

High-Brightness LED Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global high-brightness LED market size reached US$ 26.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 37.5 Billion by 2028, exhibiting a growth rate (CAGR) of 6% during 2023-2028.

A high-brightness LED (HB-LED) is an advanced LED built from semiconductors that have a higher luminosity and can withstand more current levels as well as more power dissipation. LEDs of this type typically consume more than one watt of power and produce more than 50 lumens of light, thereby resulting in extremely bright light output. Compared to their traditional counterparts, they can save up to 50% to 70% of the energy consumption, resulting in significant reductions in carbon emissions. Several advantages of using these LEDs include their longer lifespan, improved dimmability, and efficiency. In addition, they are available in a wide range of sizes and can be installed in any circuit type. As a result, they are increasingly replacing the standard LED luminaires in numerous lighting applications. High-brightness LEDs find extensive applications in signs and signals, tubes and bulbs and displays of mobiles and televisions.

High-Brightness LED Market Trends:

The market is primarily driven by the rising demand for energy-efficient and durable lighting solutions. This can be attributed to the growing concerns regarding the high levels of carbon emissions. In addition to this, favorable government initiatives supporting energy conservation and green construction practices are providing an impetus to the market. Moreover, the escalating sales of consumer electronics, such as laptops, mobiles and televisions, are also creating a positive outlook for the market. The market is further driven by continual product innovations, product launches and the reduction in the prices of HB-LED components. Furthermore, the widespread adoption of growth strategies, such as merger and acquisition (M&A) by major market players, are providing a boost to the market. Some of the other factors that are contributing to the market growth include the inflating disposable income levels of the masses and extensive research and development (R&D) activities.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global high-brightness LED market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on application, distribution channel, indoor and outdoor application and end-use sector.

Breakup by Application:

Automotive Lighting
General Lighting
Backlighting
Mobile Device
Signals and Signage
Others

Breakup by Distribution Channel:

Offline
Online

Breakup by Indoor and Outdoor Application:

Indoor
Outdoor

Breakup by End-Use Sector:

Commercial
Residential
Industrial
Others

Breakup by Region:

North America

United States
Canada

Asia-Pacific

China
Japan
India
South Korea
Australia
Indonesia
Others

Europe

Germany
France
United Kingdom
Italy
Spain
Russia
Others

Latin America

Brazil
Mexico
Others

Middle East and Africa

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report:

How has the global high-brightness led market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global high-brightness led market?
What are the key regional markets?
What is the breakup of the market based on the application?
What is the breakup of the market based on the distribution channel?
What is the breakup of the market based on the indoor and outdoor application?
What is the breakup of the market based on the end-use sector?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global high-brightness led market and who are the key players?
What is the degree of competition in the industry?