High Brightness LED Global Market Report 2024

The high brightness LED market size has grown strongly in recent years. It will grow from $21.78 billion in 2023 to $23.59 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth observed during the historical period can be attributed to several key factors: stringent energy efficiency regulations, decreasing prices of LEDs, heightened environmental awareness, and government incentives promoting eco-friendly technologies.

The high brightness LED market size is expected to see strong growth in the next few years. It will grow to $32.99 billion in 2028 at a compound annual growth rate (CAGR) of 8.8%. The projected growth during the forecast period can be attributed to several drivers, including ongoing urbanization trends, the advancement of smart city initiatives, increased demand for automotive lighting, the growing adoption of OLED technology, and the expansion of IoT applications. Major trends expected to influence the industry include advancements in horticulture lighting, the rise of UV LED applications, the integration of high brightness LEDs into wearable devices, and an increased penetration of LEDs in healthcare lighting.

The surging global demand for electronic devices is anticipated to drive the growth of the high-brightness LED (HB-LED) market. Electronic devices are essential for controlling electrical currents used in data processing and system management. Factors such as technological advancements, lifestyle shifts, expansion in emerging markets, and increased environmental consciousness are fueling this demand. High-brightness LEDs are favored in the electronics industry for their high performance, energy efficiency, and flexible design capabilities, particularly in consumer electronics. As reported in August 2022 by the Pomodoro Timer, a simple web-based timer platform based in Ukraine, revenues from technical electronic devices totaled $14.21 billion in 2022, with projections indicating a 17% growth by 2025. Therefore, the surging global demand for electronic devices drives the high-brightness LED (HB-LED) market.

Major firms in the high-brightness LED sector are innovating with new products such as the Aurora Series to satisfy the growing need for more luminous, efficient, and adaptable lighting solutions across various industries. The Aurora Series, introduced in March 2021 by Shenzhen Absen Optoelectronic Co., Ltd., a leader in LED applications from China, represents a significant advancement in ultra-high-brightness LED display technology. The series boasts features that cater to the rising demand for vibrant, superior quality displays suitable for both indoor and outdoor use. Notably, the Aurora Series displays are 50% slimmer and lighter than earlier models, incorporate a fan-less design that cuts power consumption by 40%, and are waterproof, with operational temperatures ranging from -40 to +50 degrees Celsius.

In March 2021, SMART Global Holdings, an American company that designs and manufactures electronic products, completed the acquisition of Cree LED, a US-based high-brightness LED manufacturer. This strategic acquisition enables SMART Global Holdings to broaden its reach and enhance its capabilities in providing data center and edge solutions and services. This expansion is aimed at supporting customers in running critical applications with enhanced availability and reliability.

Major companies operating in the high brightness led market are Samsung Electronics Co. Ltd., LG Electronics, General Electric Company, Broadcom, Eaton Technologies, Koninklijke Philips N.V., Toyoda Gosei Co. Ltd., Lite-On Technology Corporation, OSRAM Licht, Seoul Semiconductor Co. Ltd., Everlight Electronics Co. Ltd., Viewsonic Corporation, Cree LED, Lumileds Holding B.V., Moritex Corporation, Lumex, Plessey, Kingbright Company LLC., Genesis Photonics Inc., Intematix Corporation, Luckylight Electronics Co. Ltd, Epistar Corporation, Nichia Corporation, American Bright Optoelectronics Corporation, Syska.

Asia-Pacific was the largest region in the high brightness LED market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the high brightness led market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the high brightness led market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

High-brightness LEDs (Light Emitting Diodes) are a category of LEDs known for emitting powerful light while still being energy-efficient and durable. These LEDs are frequently utilized in applications such as automotive lighting, signage, outdoor lighting, and display screens. They generate intense illumination due to advanced technology, providing advantages such as reduced energy consumption, extended lifespan, and quicker response times in comparison to conventional lighting solutions.

The primary categories of high-brightness LEDs are differentiated by voltage ratings, specifically 6V, 12V, and 24V. High-brightness LEDs that are rated at 6V require a forward voltage of approximately 6 volts for optimal operation. These LEDs can be manufactured using various technologies, including mesa, flip chip, and vertical. They are available through multiple distribution channels, both offline and online. High-brightness LEDs are versatile and used in a wide range of applications, such as automotive lighting, general lighting, backlighting, mobile devices, signals and signage, among others. Their end users span across commercial, residential, and industrial sectors, among others.

The high brightness LED market research report is one of a series of new reports that provides high brightness LED market statistics, including high brightness LED industry global market size, regional shares, competitors with a high brightness LED market share, detailed high brightness LED market segments, market trends and opportunities, and any further data you may need to thrive in the high brightness LED industry. This high-brightness LED market research report delivers a complete perspective on everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The high brightness LED market consists of sales of products, including LED bulbs and lamps, LED strips and modules, LED displays and screens, traffic signals and signs, and flashlights and portable lighting devices. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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