HB LED market continues to grow
28 October 2009
News
Continuing the trend of recent years, high-brightness (HB) LED market growth for 2008 was 11%, reaching $5,1 billion, in spite of a shaky fourth quarter. However, a decline of 3,7% is expected for 2009, resulting in a market size of $4,9 billion.
This decline will not affect all HB LED market segments equally. For example, although some of the more mature markets such as automotive lighting, mobile phones and outdoor video screens are experiencing substantial downturns, other emerging segments such as backlights for LCD displays in notebook computers and TVs are showing strong growth. Moreover, the LED lighting market is also continuing to grow, although at a somewhat slower pace than in recent years. According to market research firm Strategies Unlimited in a recent report, lighting and LCD backlighting are the applications that will drive market recovery in 2010 and over the next five years, with market growth forecast at a CAGR of 24%, reaching $14,9 billion in 2013.
In all market segments, the penetration rates for the use of HB LEDs continue to grow. The fundamental drivers for HB LED adoption have not changed. It is the impact of the worldwide economic recession on end product demand, rather than any slowdown in the rate of HB LED adoption, that is causing the HB LED market to dip in 2009.
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