High-Brightness LED Market Analysis, Size, Growth, Demand and Forecast to 2024Posted by Marsh William on March 15th, 2018 The global High-Brightness LED Market size to reach USD 27.28 billion by 2024 and is driven by the rise in the consumer need for resource efficient and low energy lighting solutions. The market was dominated by North America and Asia Pacific together accounting for 62% of the revenue share in 2016. High-brightness LEDs are semiconductor-based devices which exhibit superior luminosity as compared to traditional LEDs due to the higher current levels and power dissipation. Increasing trend of providing more brightness to improve clarity is expected to augment the growth of the market over the projected period. Increasing demand for HB LEDs in numerous application segments including automotive, television, smartphones, general lighting, and signs owing to their lower energy consumption and superior brightness is expected to drive the demand. Rising consumer awareness regarding the benefits of using HB LED such as lower power consumption and superior brightness for residential as well as commercial applications are expected to bolster growth. Demand for these lighting solutions was highest in consumer electronics including laptops, TV backlight and smartphones to provide superior luminescence even in dark lighting conditions. The segment accounted for 56.3% of the market share in 2016 and is expected to continue its dominant trend over the projected period. Increasing consumption of HB LEDs in 4K TVs coupled with the growing sales of these products is anticipated to drive the market over the next few years. Browse Details of Report @ https://www.hexaresearch.com/research-report/high-brightness-hb-led-market Like it? Share it! More by this author |