Enhanced Visual Experience with LEDs

Stating and exploring the potentials of the global LED market, Allied Market Research published a new report titled, "Global Light Emitting Diode (LED) Market (Technology, Application and Geography), 2013 – 2020." As per the report, the LED market is expected to value $42.7 billion by 2020, growing at a CAGR of 13.5% during the forecast period. 

Light emitting diode or LEDs is now the most popular and most adopted technology in the lighting industry. Increased power efficiency and absence of hazardous liquid mercury in LEDs has surpassed the conventional CFL lights. The report forecast the LED market to hold a minimum share of 20% in the global lighting market by 2020. However, the presence of OLED would replace LED based mobile displays. 

UV LEDs has a wide range of applications in varied segments including forensic tests and medical treatments. Due to companies acquisition strategies, UV LED market is anticipated to have a substantial growth rate. For example; Noblelight acquired Fusion UV, UV LED manufacturer in January 2013 to enhance their product portfolio. Low cost of treatment involved by using the UV LED technology is propelling the adoption rate in the health sector mainly in the developing economies.

Government initiative in order to replace the conventional lighting in public places is fueling the growth of the market. The added advantage of being environment friendly, governments across various regions are in favor of adopting the UV LED technology. For example; the U.S. government replaced conventional street lights with LEDs.

"The growth in revenue will be slower than the rise in unit sales of LEDs due to the constantly declining price of LEDs; however, the overall market would grow at a constant pace due to growing demand for LEDs and expanding applications" states AMR analyst Ranjan Singh. "Continuous development in the technology suggests huge underlying potential for OLEDs during the forecast period," adds the analyst.

High brightness LEDs can provide much brighter light using low voltage, as a result it holds a minimum market share of 60% in the global LED market. An example stating this technology would be the introduction of the 4K TV segment. Asia-Pacific is the dominating region for the LED technology market. Whereas North America leads the UV LEDs market.

Companies profiled in the report are American Bright Optoelectronics Corps, Cree Incorporation, International Light Technologies, Ledtronics, Philips Lumileds Lighting Company, Samsung Electronics Co. Ltd., Seoul Semiconductor Co. Ltd., OSRAM Licht AG, Nichia, LG Innotek Co Ltd., GE Lighting Solutions and Toyoda Gosei Co., Ltd 

 

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