Led Chips Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
During the forecast period, the LED Chips Market is expected to register a CAGR of more than 11.9%. The increasing demand for cost-effective and energy-efficient lighting, as well as a variety of other factors, are driving up demand for LED chips. As a result, most developments in the LED chip market aim to provide more efficient and advanced products that offer more brightness and consume less power.
Key HighlightsThe LED chips market is favorably competitive and consists of several leading players. In terms of market share, few significant players currently dominate the market. The manufacturers focus on product differentiation to gain a competitive advantage. The manufacturers also try to show their products superior quality to achieve higher sales.
InJuly 2021, Osram introduced a new Quantum Dot LED. Osconiq E 2835 CRI 90 (QD - quantum dot) expands ams Osram's portfolio of high-quality lighting solutions with a new mid-power LED. Even at high color rendering indices, in-house quantum dot technology ensures efficiency values of more than 200 lm/W.
In March 2021, SMART Global Holdings, Inc. announced the completion of its acquisition of Cree, Inc.'s Cree LED Products business unit. SGH's Cree LED business unit will operate as Cree LED. SGH expects to go over the Cree LED acquisition in greater depth at its increasing quarterly earnings.
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