High Power LED Market Worth $5.6 Billion by 2024 - Exclusive Report by MarketsandMarkets™

CHICAGO, July 11, 2019 /PRNewswire/ -- According to the new market research report "High Power LED Market by Packaging Type (Flip Chip, Mesa, and Vertical), Application (General Lighting, Automotive, Flash Lighting, Backlighting,) and Geography (APAC, North America, Europe, Rest of the World) - Global Forecast to 2024", published by  MarketsandMarkets™, the High Power LED Market is expected to grow from USD 4.5 billion in 2019 to USD 5.6 billion by 2024, at a CAGR of 4.5% during the forecast period. The long life & continuous usage, small size, less power consumption & low voltage, and increasing high brightness application are the major factors fueling the growth of the overall market.

Ask for PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=199455057

Mesa LED packaging is leading the high power LED market

Mesa, also known as traditional horizontal packaging, is the standard chip design for lighting applications. These LEDs do not require electrical conduction for the die bonding materials but require two wires electrically connected to the two electrodes on different sides of a substrate. The substrate must be electrically conductive, and the die bonding materials must be electrically conductive. This use of this traditional horizontal LED packaging technology is likely to be limited in the near future due to its disadvantages compared to other packaging types. Mesa packaging is currently leading the high power LED space.

General lighting application to lead the high power LED market during the forecast period

Residential, commercial, industrial, outdoor, and architectural lighting are the major segments in the general lighting application of high power LEDs. High power LEDs are expected to have tremendous growth potential in the industrial, corporate, and residential sectors due to their high efficiency and smarter lighting capability. As lighting application makes up for approximately 10% of the world's electricity consumption, improving the effectiveness of these light sources becomes essential to help reduce worldwide carbon emissions. The use of high power LEDs will improve the energy-efficiency and would also provide high brightness. These advantages would drive the high power LED market during the forecast period.

North America to be the fastest-growing region in the high power LED market during 2019–2024

The US is expected to be the major contributor to the high power LED market in North America on the back of its well-established economy; the presence of some leading high power LED suppliers; and a large demand from leading suppliers of smartphones, televisions, smart wearables, automotive lightings, and general lightings. The rapid adoption of the latest technologies, along with the growing number of applications, is another major factor contributing to the projected prominence of North America in the high power LED market in the coming years. Many leading companies, such as HP, Dell, and Apple, are headquartered in the US. These are expected to play an important role in the growth of the high power LED market for display backlighting application in North America. Cree and American Bright Optoelectronics are among the major high power LED companies based in North America.

Browse in-depth TOC on "High Power LED Market"

39 – Tables
33 – Figures
110 – Pages

Request Sample pages of the Report:

https://www.marketsandmarkets.com/requestsampleNew.asp?id=199455057

The major high power LED vendors include Cree (US), Nichia (Japan), OSRAM (Germany), Samsung (South Korea), Everlight (Taiwan), Lumileds (Netherlands), Epistar (Taiwan), LG Innotek (South Korea), Broadcom (US), MLS (China), and Seoul Semiconductor (South Korea). The other companies include Luckylight Electronics (China), Plessey Semiconductors (UK), Betlux Electronics (China), Effilux (France), Lite-On Technology (Taiwan), Crescent LED (UK), Vollong Electronics (China), and Stanley Electric (Switzerland).

Please Explore Relevant Reports:

OLED Market by Display Application (Smartphone, TV, Automotive, NTE), Panel Type (Rigid, Flexible), Technology, Size, Material (FMM RGB, WOLED), Lighting Application (General, Automotive), Panel Type, & Vertical, and Geography - Global Forecast to 2023 

Micro-LED Market by Application (Display (Smartwatch, NTE Devices (AR, VR), Smartphone, Television, HUD, Digital Signage, Laptop & Monitor) and Lighting (General, Automotive)), Display Panel Size, Vertical, and Geography - Global Forecast to 2025

About MarketsandMarkets™ 

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:

Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/high-power-led-market.asp 
Content Source : https://www.marketsandmarkets.com/PressReleases/high-power-led.asp  
Visit Our Web Site: https://www.marketsandmarkets.com

View original content:http://www.prnewswire.com/news-releases/high-power-led-market-worth-5-6-billion-by-2024---exclusive-report-by-marketsandmarkets-300883341.html

SOURCE MarketsandMarkets