The goal of the most recent market intelligence report, “Global High Power LED Market“, is to provide the intended audience with essential details about the global keyword industry. The report provides in-depth analysis of the variables influencing the growth of the industry as well as the High Power LED market. The advantages and disadvantages of the pandemic for the High Power LED business are covered in great length in the paper. Due to supply chain interruptions and economic unpredictability, the dynamics of the High Power LED business have shifted. The most significant geographic and market segmental effects of the pandemic are examined in the paper. In light of this, Emergen Research’s report on the High Power LED Market is a comprehensive compilation of the most crucial market factors, including product offerings by key players, a wide range of applications for these products, key market segments, key competitors, company profile, pricing strategy, production capacity, revenue generation strategy, technological advancement, etc.
The global high power LED market size was USD 4.56 Billion in 2021 and is expected to register a revenue CAGR of 4.2% during the forecast period, according to latest analysis by Emergen Research. Increasing demand for smart lighting systems is the key factor driving market revenue growth.
Smart lighting is seen as the new frontier of the worldwide lighting industry, as smart homes, Internet of Things (IoT), and other new advanced technologies are primary driving factors in the expansion of high power LED market. The industry is currently more focused on light intensity dimming, lighting color temperature control, environmental sensing, and monitoring as significant applications of smart lighting idea. However, smart lighting devices may be utilized as a hub and incorporated as a crucial component of IoT systems and smart home networks. Rising demand for smart lighting systems prompts manufacturers to introduce new products in the market. In October 2021, Universal Remote Control, Inc. (URC), a U.S based residential and commercial automation solution provider announced the introduction of its new smart home lighting system product line. With a selection of smart dimmers, switches, and gateway devices, this new generation of smart lighting delivers ideal ambiance for social gatherings or family occasions. URC Lighting devices use LED lights to display notifications for preprogrammed triggers. In June 2022, Signify, a Netherlands-based lighting company announced the launch of new Philips Hue smart lighting products and automation features such as track lighting, portable illumination, sunrise wake-up effects, and others.
In addition, there is a rising demand for high power LEDs in automotive industries. LEDs are already widely utilized in both standard and premium vehicles and recent advancements in LED technology imply that devices are beginning to enable innovative lighting solutions. Some of the most recent significant advancements in LED technology include a reduction in source size, as well as increases in brightness and tolerance, which are expected to create high demand in the automotive sector. The new LED technology can also combine many purposes, for example, LEDs can be used as daytime running lights to improve vehicle visibility throughout the day. Furthermore, by increasing power levels and turning on additional LEDs, low- and high-beam light can be provided from the same module.
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The global High Power LED market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global High Power LED market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
Leading companies profiled in the report:
Samsung, LG Innotek, Seoul Semiconductor Co., Ltd., Plessey Semiconductors, Stanley Electric Co., Ltd., Crescent Opto Private Limited, Vollong Electronics Co., Limited, Betlux Electronics Co., Ltd., OSRAM GmbH, Cree LED, an SGH company, Everlight Electronics Co., Ltd., Lumileds Holding B.V.
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However, high-power LEDs face the issue of increased heat power in conjunction with increased flux levels. In upcoming compact LED array designs, natural and forced convection solutions using air as working fluid are inadequate to offer thermal management at necessary operating safe temperatures. To avoid overheating, extra heatsinking or cooling techniques are required. While materials with excellent thermal conductivity are frequently utilized to spread heat over a big region, these materials also come with a high price tag and additional weight. This increases cost of not only light sources but also fixtures that employ those light sources. The thermal issues and high cost of high-power LEDs are expected to restrain revenue growth of the market.
On the basis of type, the market is segmented into
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Packaging Structure Outlook (Revenue, USD Billion; 2019-2030)
- Flip Chip
- Vertical
- Mesa
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Wattage Outlook (Revenue, USD Billion; 2019-2030)
- 1-2.9 W
- 3-4.9 W
- 5-10 W
- >10 W
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Application Outlook (Revenue, USD Billion; 2019-2030)
- General Lighting
- Automotive Lighting
- Flash Lighting
- Backlighting
- Others
In addition, the analytical data are presented in a well-organized format in the form of charts, tables, graphs, figures, and diagrams in the report. This makes it easier for readers to comprehend the market scenario in a beneficial way. In addition, the report aims to provide a forward-looking perspective and an instructive conclusion to assist the reader in making profitable business decisions. The report concludes with a comprehensive SWOT and Porter’s Five Forces analysis of the segments anticipated to dominate the market, regional bifurcation, estimated market size and share, and more.
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyses consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
