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High Brightness LED Market Trends

  • Report ID: GMI401
  • Published Date: Mar 2024
  • Report Format: PDF

High Brightness LED Market Trends

Requirements for displays and signage are progressively growing as a significant trend in the market for High Brightness LED (HB LED). Higher light output, power efficiency and longer lifetime make high-brightness LEDs increasingly popular in digital signage, outdoor advertising & large format displays. The recent digitalization and the need for attractive pictures or visuals have made firms and institutions purchase improved quality LED panels that will increase their number of customers. Such characteristics like bright colors, high contrast ratio and outdoor visibility bring out a suitable element for promotional displays in terms of High brightness LEDs.
 

Efforts dedicated toward heat control in the HB LED market keep up at the pace as manufacturers strive to invent and develop better thermal management solutions. The need for more bright and powerful LEDs has resulted in efficient dissipation of heat produced during operation. The market is also witnessing the creation of newfangled ideas in the area of improved conductivity and dispersing of energy through advanced heat sink materials and designs. In addition, liquid cooling and phase change materials are some of the creative methods being looked at by manufacturers when managing heat in high-power LED applications.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

High brightness LED market was valued at over USD 33.1 billion in 2023 and is estimated to register a CAGR of over 9% between 2024 & 2032, due to the growing demand for efficient lighting systems.

The general lighting segment held a major market share of over 33% in 2023, driven by popularity of energy-saving LED bulbs that have taken over from traditional incandescent and fluorescent lamps.

North America market accounted for a revenue share of over 38% in 2024 and will show notable growth trends through 2032, in response to the escalating energy costs and ecological concerns.

LG Innotek Co Ltd, Eaton Corporation, Everlight Electronics Co., Ltd., TOYODA GOSEI, Intematix Corporation, Broadcom Ltd., and Kingbright Electronic Co, Ltd. are the key industry players.

High Brightness LED Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 12
  • Tables & Figures: 362
  • Countries covered: 22
  • Pages: 230
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