Semiconductors & Electronics Industry High-Brightness LED Market Overview 2024

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High-Brightness LED Market Size, Share, Trend, Analysis,
Industry Outlook and Forecast to 2024 | Hexa Research
“Global high-brightness (HB) LED market was valued
at USD 15.6 billion in 2016 and is expected to grow
on account of its increasing demand in various
applications including lighting for automobiles and
electronics.”
The global High-Brightness LED Market size to reach USD 27.28 billion by 2024 and is driven by the rise in the
consumer need for resource efficient and low energy lighting solutions. The market was dominated by North
America and Asia Pacific together accounting for 62% of the revenue share in 2016.
High-brightness LEDs are semiconductor-based devices which exhibit superior luminosity as compared to
traditional LEDs due to the higher current levels and power dissipation. Increasing trend of providing more
brightness to improve clarity is expected to augment the growth of the market over the projected period.
Increasing demand for HB LEDs in numerous application segments including automotive, television,
smartphones, general lighting, and signs owing to their lower energy consumption and superior brightness is
expected to drive the demand. Rising consumer awareness regarding the benefits of using HB LED such as
lower power consumption and superior brightness for residential as well as commercial applica tions are
expected to bolster growth.
Demand for these lighting solutions was highest in consumer electronics including laptops, TV backlight and
smartphones to provide superior luminescence even in dark lighting conditions. The segment accounted for
56.3% of the market share in 2016 and is expected to continue its dominant trend over the projected period.
Increasing consumption of HB LEDs in 4K TVs coupled with the growing sales of these products is anticipated
to drive the market over the next few years.
Browse Details of Report @ https://www.hexaresearch.com/research-report/high-brightness-hb-led-
market
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