Global Light Emitting Diode (LED) Market Outlook, Opportunities And Strategies
Learn about the global Light Emitting Diode (LED) market through The Business Research Company, which provides information on light emitting diode (LED) market size, light emitting diode (LED) market drivers and restraints, light emitting diode (LED) market players, the COVID-19 impact on the light emitting diode (LED) market, and more.
The global light emitting diode market is expected to grow from $61.33 billion in 2021 to $71.04 billion in 2022 at a compound annual growth rate (CAGR) of 15.8%.The growth in the market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The LED market is expected to reach $113.40 billion in 2026 at a CAGR of 12.4%.
The increased government focus on saving energy contributed to the growth of the light emitting diode (LED) market.
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The light emitting diode (LED) market consists of sales of light emitting diode and related services. It is widely used in backlighting of TV, mobile phones, automotive lighting and display boards. A light emitting diode emits light as electrical current passes through it. LEDs are very small, consumes less electric power and can emit lights of different colors based on the semiconductor used in it.
Global Light Emitting Diode (LED) Market Segments Include:
By Product Type: LED Lamps, LED Fixtures
By Technology: Basic LED, High Brightness LED, OLED, Polymer, Ultra Violet LED
By End-User: Residential, Commercial, Industrial
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the light emitting diode (LED) market in 2021.
Production of LEDs specifically for horticulture is an emerging trend in the light emitting diode market. Light plays an important role in promoting the plant’s growth and LEDs have the capability to control the spectrum of the light provided to the plants irrespective of the season. The LED lights used in horticulture not only promotes growth of the fruits and plants but also enhances flavor, color and yields in a shorter time.
TBRC’s light emitting diode (LED) market report covers:
Major Market Players: OSRAM Licht AG, Cree Inc., Phillips Lighting Holding, Lumiled holding B.V, Cooper Industries, Virtual Extension, Dialight plc, Zumtobel Group AG, Samsung, Sharp Corporation, LG Innotek, and General Electric Company.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Light Emitting Diode (LED) Global Market Report 2022– Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides light emitting diode (LED) market overviews, analyzes and forecasts market size, share, light emitting diode (LED) market players, light emitting diode (LED) market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s light emitting diode (LED) market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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