Asia-Pacific LED Market (Light Emitting Diodes Market) Report, published by Allied Market Research, forecasts that the Asia-Pacific market is expected to garner $35.8 billion by 2020, registering a CAGR of 15.7% during the period 2015-2020. China leads the Asia-Pacific LED market, owing to supportive government initiative & policies and growing demand for LED from diverse industry verticals. However, India is expected to witness the fastest growth during the forecast period.
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The LED market in APAC region is growing at a fast pace owing to the increasing usage of LEDs in different application sectors such as general lighting, automobiles, and mobile phones backlighting among others. The commercial users across Asia-Pacific region are finding ways to replace CFL bulbs with LEDs, as LED requires approximately 30% lesser power as compared to CFL bulbs. Moreover, projects for replacement of CFL street lights with LED, are being undertaken in different countries in the region, owing to a number of features such as dimmability and benefits such as low power consumption and longer life.
Based on application, mobile devices, general lighting and automotive are the three most prominent segments where LED technology is implemented. Mobile devices segment being the largest of the three, accounted for about 27% of the total LED market revenue in 2014. Major mobile companies such as Samsung use Organic LEDs (O-LED) in mobile phones that contribute to the growth of the LED market.
The different technologies covered in the report include basic LED, High Brightness LED, Organic LED, Ultra Violet LED and Polymer LED. High brightness LED segment is the key revenue contributor, accounting for over 60% of the market throughout the analysis period.
Key findings of Asia-Pacific LED Market:
- India is expected to be one of the most opportunistic markets, owing to favorable government initiatives and growth of the smartphone and automotive market
- The Organic LED is expected to grow swiftly during the forecast period owing to its increased application in consumer appliances such as mobile phones & LED TVs
- Mobile devices segment dominates the Asia-Pacific LED market with accounting for about 27% of the total LED market revenue in 2014, and would remain the leading application segment throughout the forecast period
The prominent companies profiled in this report include, Samsung Electronics Co. Ltd., Cree Incorporation, Seoul Semiconductors Co. Ltd., and OSRAM Licht, AG, among others. Numerous companies have focused on innovative product development to cater to the growing needs of the industry. Market players have adopted product launch, partnership, and acquisitions as their key strategies to enhance their product portfolio and magnify their consumer base.