Strategies Unlimited forecasts global HB-LED market to exceed $26B by 201821-04-2014
Strategies Unlimited has made its annual market research report, The Worldwide Market for LEDs: Market Review and Forecast 2014. This report foresees revenue growth of 12.9% from 2013 to 2018 for the total market for packaged LEDs, strengthened by 27% CAGR in LEDs in lighting applications.
The Worldwide Market for LEDs offers scienfific analysis and a forecast through 2018 for packaged LEDs used in the following applications: display backlighting, mobile devices, automotive applications, signage, and general lighting. The report also provides a comprehensive supplier analysis that evaluates the distribution of revenues for such regions as Japan, South Korea, Taiwan, China, the United States, and Europe.
LED Market Revenue Bar, 2012-2018 ($M)
The global packaged LED industry grew from $1.2 billion in 2000 to $14.2 billion in 2013. Back in 2009, LED lighting accounted for $665 million in revenues and in 2013 the general lighting segment was worth $4.4 billion. According to Strategies Unlimited analyst Katya Evstratyeva, "We estimate the growth for LED lights to be 27% of CAGR from 2013 to 2018, driven mostly by an increased consumer confidence and continuously increasing sales of replacement lamps, downlights, industrial, commercial, and outdoor products.”
The top 15 companies in the LED industry account for about 81% of global revenues and the top 25 companies take up 93% of revenues. It is clear that quite a few manufacturers continue to struggle to find their status in this fast-changing environment as the packaged LED industry is becoming more and more complex. As a result, we expect consolidation of the market in the coming years.