The data collected in the “Global LED Packaging Market – Segmented by Packaging (COB, SMD), Application (Residential, Commercial), and Region – Growth, Trends, and Forecast (2019 – 2023)” report (Sample Copy Here) offers detailed insights on the market dynamic forces to enable informed business decision making and development strategy formulation supported on the opportunities present in the market. LED Packaging Market report delivers the most up-to-date industry data on the actual and potential market situation, and outlook.
The Global LED Packaging Market 2019 is bifurcated into multiple segments [Product, Applications, End-Users, and Major Regions]. The global LED Packaging Market report represents the market’s data in a better-analyzed way by fragmenting the market in several multiple segments product, its end-users, applications, and others of the market segments. A review of the impact of the administrative regulations and policies on the LED Packaging Market operations is also included in this report. The LED Packaging Market report offers a complete analysis of competitive dynamics that are modifying and places the patrons ahead of competitors.
LED Packaging Market Segmentation by Major Players:
Samsung Electronics Co. Ltd., OSRAM Opto Semiconductors GmbH, Nichia Corporation, LG INNOTEK, Seoul Semiconductor Co., Ltd., Stanley Electric , Lumileds Holding B.V. , EverLight Electronics CO., LTD., TOYODA GOSEI Co., DOW Corning, Citizen Electronics , Cree, Inc.
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Overview of LED Packaging Market Report:
LED Packaging Market was worth USD 15.06 billion in 2017 and is projected to grow to USD 17.99 billion by 2023 at a CAGR of 3.01% during the period 2019 – 2023. The report discusses the various types of packaging and the end-users using the LED products. While the regions considered in the scope of the report include North America, Europe, and various others. The study also emphasizes on how growth in the number of government initiatives for the adoption of LEDs is changing the market scenario.
LED technology has captured the imagination of the lighting industry by offering tiny and efficient lighting solutions to a diverse set of consumers. In the past decade, features, such as power saving, enhanced efficiency, and non-splintery, compared to traditional bulbs has played a significant role in increasing the demand for LED’s. Thus, it has led manufacturers to focus on LED design for appropriate packaging and viability of the end product. Moreover, the design process of the packaging has directly influenced factors such as temperature, luminescence efficiency, wavelength, life span, and others, and has reduced the overall operational costs. Hence, with the improvements in the packaging technology of power LED chips, there is increased adoption of the LED solutions. Thus, with the rapid enhancement in the applications of LED packaging, the innovation and consumption is expected to increase in the upcoming years, driving the LED packaging market.
Rising Demand For High Power LED Packages For Lighting Applications To Drive The Market
In order to get high power, high brightness LED light sources, manufacturers are now making efforts to produce high power LED with proper packages. The high-power LED poses challenges for the traditional lighting where heat dissipation is a major cause of concern. It has emerged as the most used technology for various applications, such as industrial facilities. High-density chip assembly, high output power, low thermal resistance and increased luminescence efficiency are anticipated to drive the demand. Moreover, as various end-users, specifically, industrial facilities are looking to adapt cost effective lighting measures at the premises owing to the energy efficient nature of LED’s, the demand for high power LED’s in the these spaces is expected to increase.
Increasing Demand From Commercial Segment To Drive The Market
The automotive sector outlook has largely been optimistic, driven by a shift in consumer demand towards longer term, cost-effective automobiles. Moreover, recent changes in regulations aimed at reducing emissions may have a telling impact on the industry. Manufacturers have been proactively seeking to differentiate their products from their rivals by adopting next generation solutions, such as LED lighting solutions. In addition to this, higher efficiency metrics for LED lights has enabled them to cut down on the number of light units deployed as a part of the lighting systems. Also, increasing prominence of LEDs can also lead to the adoption of smart lighting systems (connected lighting) in industries. Given the flexibility of LEDs in terms of color variation and brightness, it makes more sense for connected systems to use LEDs than traditional lighting sources.
Growing Demand for LED’s in Asia-Pacific to Drive the Market
Asia Pacific is currently experiencing a tremendous shift in lighting systems where companies in these regions have been identified to adopt LED lights in industries and manufacturing plants compared to its counterparts, like incandescent, and LFL owing to the improved efficiency of LED lighting systems. China has been gradually reducing the sale of incandescent light bulb products during the last five years, ensuring that the outdated technology is soon replaced by something more advanced and profitable. In India, the government supported plan of deploying cost effective LED’s across the end-users has received a warm response. According to the government, LED adoption is driving to an annual energy savings of over 3,340 crore kWh and resulting in avoidance of over 6,725 MW of peak demand.
Also, India’s Ministry of Power is expected to procure 200 million LED light bulbs via open bids in 2019. The ministry, in line with its Domestic Efficient Lighting Program, in 2014 began to distribute LED light bulbs to households to replace incandescent ones in a bid to save energy. As other countries in the region are expected to follow suit, the demand for LED’s is expected to increase.
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Further, in the LED Packaging Market research reports, the following points are included along with an in-depth study of each point:
Production Analysis – Production of the LED Packaging is analyzed with respect to different regions, types, and applications. Here, price analysis of various LED Packaging Market key companies is also covered.
Competitors – In this section, various LED Packaging industry-leading players are studied with respect to their company profile, product portfolio, capacity, price, cost, and revenue.
Sales and Revenue Analysis – Both, sales and revenue are studied for the different regions of the LED Packaging Market. Another major aspect, price, which plays an important part in the revenue generation, is also measured in this section for the numerous regions.
Supply and Consumption – In continuation with sales, this section studies supply and consumption for the LED Packaging Market. This part also shelters light on the gap between supply and consumption. Import and export statistics are also given in this part.
Other analyses – Apart from the above-mentioned information, trade and distribution analysis for the LED Packaging Market, the contact information of major manufacturers, suppliers and key consumers is also given. In addition, SWOT analysis for new projects and viability analysis for new investment are included.
Lastly, with a team of vivacious industry professionals, we offer our clients with high-value market research that, in turn, would aid them to decipher new market avenues together with new strategies to take hold of the market share.