LED Backlighting Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI355
LED Backlighting Market size is anticipated to grow considerably over 2021-2027. This is driven by the myriad benefits demonstrated by LED technology over fluorescent, incandescent, and compact fluorescent lighting devices, including lower energy consumption and higher safety. Likewise, the rising acceptance of innovative LED display backlighting technology in electronic appliances like laptops and smartphones will further proliferate the market growth in the upcoming years. LED backlight refers to a well-known backlighting technique that allows small and medium LCDs to create an image. Immunity to vibration, precise control, and low operating voltage are among the advantages of the LED backlighting system. This system is available in a broad range of colors and has two basic configurations, namely array and edge lit.
Escalating production of liquid crystal displays (LCDs) and the transition to green technology for a sustainable future are the key factors impelling the global LED backlighting market trends. In May 2021, LG Display and Samsung Display announced the extension of their LCD production amid significant hike in panel prices. However, the increasing availability of alternatives like OLED displays may create a hindrance to the overall industry expansion over the forecast spell. Despite the rapid advancements in LED technology, OLED possesses several beneficial attributes such as high picture quality, less energy consumption, and cost-effectiveness.
Based on application, the television segment will account for a considerable share of the LED backlighting market by 2027. Growth from this segment is attributable to the escalating launch of smart TVs with LED displays across the globe. TCL, in 2021, announced the launch of smart mini LED TV, designed to offer high-quality and interactive home entertainment experiences to users. Growing reliance on broadcasting systems during the coronavirus pandemic is also likely to augment the deployment of LED backlighting systems in TVs over the coming years.
Regionally, the North America LED backlighting industry is set to depict a strong growth rate through 2027, considering the falling prices of LEDs and their high penetration in the regional lighting market. Additionally, strong investment interest towards LCDs from light technology companies will also stimulate the demand for LED backlights in the region. In December 2020, California-based Azumo announced plans to use its $9 million funds secured from Anzu Partners for its establishing LCD 2.0 as the next-gen display technology for the rising spectrum of high-resolution, ultra-low power consumption and full color-compliant electronic devices.
Major players in the LED backlighting market include STMicroelectronics, Supertex, Silicon Touch Technology, Semtech, Power Integrators, ROHM, iWatt (Dialog Semiconductor), Infineon Technologies, Intersil (Renesas Electronics), ams AG (formerly austriamicrosystems AG), Advanced Analogic Technologies (Skyworks Solutions), Analog Devices, ON Semiconductor, Texas Instruments, NXP Semiconductors, Linear Technology, and Maxim Integrated, among others. Strategic product launches and business expansions are some of the initiatives being undertaken by these firms to reinforce their presence in the global market. For instance, in July 2021, Maxim Integrated Products unveiled MAX25512, an LED backlight driver for automotive displays, designed with an aim to strengthen the company’s product offerings in the automotive industry.
Emergence of New Smart Electronic Devices Amid COVID-19 May Foster LED Backlighting Market Trends:
The unprecedented disruptions from the coronavirus pandemic, due to the halt of manufacturing activity and travel restrictions have been felt across various sectors, including the lighting industry. Prior to the outbreak, various lighting manufacturers relied heavily on China to source a range of their components. Given the impact of the outbreak on the nation, several economies endured the repercussions of the supply chain disruption caused by lockdown measures. Furthermore, workers at manufacturing facilities of LEDs and light fixture components were ordered to stay at home. Factors such as these had an immense impact on the production of devices like LED backlit displays.
However, the increasing sales of electronic products like mobile phones and televisions during the coronavirus pandemic may aid the recovery of the LED backlighting market. In 2021, Realme announced plans to launch new smart TVs with 4K ultra-high definition LED screens and other enhanced features. This rapid introduction of smart devices amid the crisis is thus expected to boost the adoption of LED backlighting technology in myriad displays over the foreseeable future.
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