Press Release / Technology / High Brightness LED Market 2019, Trends, Analysis, Leading Players & Future Forecast by 2023

High Brightness LED Market 2019, Trends, Analysis, Leading Players & Future Forecast by 2023

High Brightness LED Market Synopsis:
The Global High Brightness LED Market is presumed to register a CAGR of 9.73% during the forecast period 2018 to 2023. The report further indicates that the market is set to grow from USD 17.67 Bn in 2017 to USD 23.32 Bn by the close of the assessment period
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High brightness LED market, by application, is segmented into automotive lighting, general lighting, LCD backlighting, mobile, signals & signage, and others. The general lighting segment dominates the High brightness LED market during the forecast period owing to the large-scale replacement of traditional luminaires for the indoor and outdoor lighting. Furthermore, the reduction in the overall cost of HB LED lights has led to rise in adoption of then same by general public.
Competitive Dashboard:
Some of the key players of the high brightness LED market profiled in this MRFR report are Epistar Corporation (Taiwan), Lumileds Holding B.V. (Netherland), Cree, Inc. (US),  Moritex Corporation (Japan), Seoul semiconductor (South Korea), Samsung Electronics Co Ltd (South Korea), Osram Opto Semiconductors GmbH (Germany), Nichia Corporation (Japan), American Bright Optoelectronics Corps (US), and Toyoda Gosei (Japan).
Industry News:
In April 2019, an embedded technologies developer in microLED technology, Plessey, has introduced its 2D planar gallium nitride on silicon process for making green LEDs.
In March 2019, Samsung Electronics America, Inc., showcased its innovative portfolio of signage solutions at the 2019 Digital Signage Expo (DSE).
In January 2019, Samsung, a South Korean multinational conglomerate demonstrated 219 inches and 75-inch micro LED ultra HD televisions that offer very high brightness.
Market Segmentation:
This MRFR report includes a segmental analysis of the high brightness LED market on the basis of application. The market has been segmented into automotive lighting, general lighting, LCD backlighting, mobile, signals & signage, and others. Among these, the general lighting segment is anticipated to dominate the market growth owing to large-scale investments in replacing traditional LEDs. Also, the price erosion witnessed is forecasted to drive the growth of the segment in the forthcoming years.
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Regional Analysis:
By region, the global high brightness LED market has been segmented into North America, Europe, Asia Pacific and the Rest of the World (RoW). Asia Pacific houses a booming consumer electronics market which is likely to support its forefront positioning in the global marketplace. The increasing sales of tablets, PCs, television, etc. are forecasted to expedite the proliferation of the high brightness LED market across the review period. In addition, the consolidation of key players in the region in conjunction with a rising inflow of investments is projected to favor the growth of the high brightness LED market over the next few years. The region resonates strong potential for growth and is forecasted to strike a comparatively higher CAGR over the assessment period.
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