High-Brightness LED Market - Forecast(2024 - 2030)

High-Brightness LED Market Overview

The global High-brightness LED Market size is estimated to reach US$25.8 billion by 2027, growing at a CAGR of 10.8% from 2022 to 2027. Growing adoption of energy-efficient products, increasing applications of high-brightness LEDs across industry verticals and major advantages of high-brightness LEDs such as smaller size, longer lifespan and reduced power consumption are propelling the growth of the High-brightness LED industry. High-brightness LEDs are now rapidly being used for automotive lighting, backlighting and general lighting as they provide high luminosity and reduce energy consumption which in turn boosts the market growth. New technological advancements are also creating ample opportunities for the High-brightness LED market to grow. For example, Chip-on-board LED is a relatively new entrant into the LED market which provides light of super-high intensity while being compact and smaller in size. These aforementioned factors are positively influencing the High-brightness LED industry outlook during the forecast period.

Report Coverage

The report: “High-brightness LED Industry Outlook – Forecast (2022-2027)” by IndustryARC, covers an in-depth analysis of the following segments in the High-brightness LED industry.

By Technology: Mesa, Vertical and Flip Chip.
By Distribution Channel: Online and Offline.
By Application: General Lighting, Automotive Lighting, Backlighting, Signals and Signage, Flash Lighting and Others.
By End-use Industry: Industrial, Residential, Automotive, Consumer Electronics, Hospitals, Architectural and Others.
By Geography: North America (the US, Canada and Mexico), South America (Brazil, Argentina and Others), Europe (the UK, Germany, France, Italy, Spain and Others), APAC (China, Japan, South Korea, India, Australia and Others) and RoW (the Middle East and Africa).

Key Takeaways

• In the High-brightness LED market report, the flip chip technology segment is expected to grow at the highest CAGR of 11.2% due to factors such as greater advantages combined with high functionality features.
• The automotive lighting segment is expected to grow at the highest CAGR of 10.8% due to lower power consumption, enhanced durability and high luminosity provided by the High-brightness LEDs.
• APAC led the global High-Brightness LED Market with a 41% share, due to the growing demand for energy-efficient lighting solutions and the presence of major manufacturers.

High-Brightness LED Market Value Share, by Region, 2021 (%)

High-brightness LED Market Segment Analysis - by Device Type

Based on Technology, the flip chip segment in the High-brightness LED Market report is analyzed to grow with the highest CAGR of 11.2% during the forecast period 2022-2027. This growth can be attributed to its advantages over traditional horizontal mesa packaging and vertical packaging technology. The flip chip technology-based LEDs can function at higher currents, are wire-bond-free and come in smaller packages. These advantages drive the demand for the flip chip technology segment. In July 2022, Luminus Devices announced the release of MP-3030-110F flip-chip LEDs with increased reliability and robust performance. These developments boost the flip chip technology segment, which in turn increases the High-brightness LED market size.

High-brightness LED Market Segment Analysis - by Application

Based on Application, the automotive lighting segment in the High-brightness LED Market report is analyzed to grow at the highest CAGR of 10.8% during the forecast period 2022-2027. Growing demand for energy-efficient lighting and greater advantages of high-brightness LEDs such as enhanced durability, low power consumption, high power output and super-high intensity lighting compared to halogen and xenon are fueling the growth of the high-brightness LED industry in automotive lighting applications. In April 2021, Samsung launched PixCell LED, an advanced automotive LED module for smart headlights with an LED-powered Adaptive driving beam, improved visibility and safety features. Such developments greatly influence the High-brightness LED industry outlook during the forecast period.

High-brightness LED Market Segment Analysis - by Geography

APAC dominated the global market for High-brightness LED with a market share of 41% in 2021. It is also analyzed to have significant growth over the forecasting period. This growth can be attributed to the growing demand for energy-efficient lighting solutions; growing usage of high-brightness LEDs in general lighting, automotive lighting and backlighting applications; growing technological advancements in the LED lighting market such as chip-on-board LED and the presence of major manufacturers. In May 2021, Samsung Electronics Co. Ltd. introduced the LM301B EVO - a high-brightness LED package improving light efficiencies and color quality in indoor and commercial environments. These developments bolster the APAC region’s presence in the global High-brightness LED industry.

High-brightness LED Market Drivers

Growing demand for smart lighting applications:

In recent years, the market for smart lighting has seen significant growth. Ongoing smart city projects in developing and developed countries and the emergence of IoT have increased the demand for smart lighting in both residential, commercial and industrial sectors. This growing demand significantly increases the adoption of High-brightness LEDs as they provide durability and are also energy efficient. In April 2020, Acuity Brands Lightings launched the new Slot 1 line of linear LED luminaries from Mark Architectural Lighting. This Slot 1 is a collection of sleek, small-factor luminaries for indoor lighting applications. These factors are positively influencing the High-brightness LED industry outlook during the forecast period.

Growing demand for energy-efficient solutions and government initiatives:

A growing number of consumers are switching from traditional lights to LEDs because they are more cost-effective, have a longer lifespan and are more energy-efficient than traditional lights. Additionally, governments across the world are also taking initiatives to implement regulations in the favour of installing LEDs which also increases the High-brightness LED market size. In April 2022, The U.S. Department of Energy declared that raising energy efficiency standards for light bulbs would give industrial manufacturers 75 days to phase out incandescent light bulbs and adopt LEDs in their place. It must be done before an outright ban in July 2023, as incandescent bulbs use higher wattage than LEDs. These regulations and initiatives are creating ample opportunities for the High-brightness LED industry to grow.

High-brightness LED Market Challenges

High-brightness LED performance issues in different ambient temperatures:

The output of High-brightness LEDs is highly dependent on the ambient temperature. Excessive use of high-brightness LEDs in hot environments can cause the lights to fail which acts as a restraint in market growth. Additionally, the high initial cost of deploying high-brightness light-emitting diodes in comparison to traditional lighting is limiting the market growth rate. These issues limit the market opportunities for the High-brightness LED Market during the forecast period.

High-brightness LED Industry Outlook

Product launches, collaborations and R&D activities are key strategies adopted by players in the High-brightness LED Market. The top 10 companies in the High-brightness LED market are:

1. Osram GmbH
2. Samsung Electronics Co.
3. Lumileds
4. Syska
5. Eaton Corp
6. Everlight Electronics
7. Cree LED
8. GE Lighting
9. Nichia Corp
10. Acuity Brands

Recent Developments

• In August 2022, Nichia Corp launched the NFDWJ130B-V5, NFCWJ108B-V5, NFCWL060B-V5, NFCWL036B-V5 and NFCWS024B-V5 high output chip-on-board LED options. These high-brightness LEDs are super-high-intensity lighting aimed to increase production efficiency in artificial farms.
• In March 2022, Acuity Brands launched Verjure, a professional­-grade LED lighting solution. It offers efficacious and consistent performance for indoor applications. This is poised to increase the company’s share in the High-brightness LED industry.
• In July 2021, OSRAM introduced the Osconiq E 2835 CRI 90 quantum dot LED lighting. The product has a wide color temperature range and high luminosity. These new developments are expected to increase the High-brightness LED market size.

Relevant Report Titles:

LED Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis
Report Code: ESR 0475

Automotive Lighting Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis
Report Code: ATR 0046

LED Digital Signage Market - Industry Analysis, Market Size, Share, Trends, Application Analysis, Growth and Forecast Analysis
Report Code: ESR 0593

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