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Global LED market value is estimated to be up to USD 16.531 billion by the end of 2021

According to some latest market surveys, besides Mini LEDs, auto led lights, video wall and lighting market requirement will recover in the year 2021, also, horticultural lighting and UV LED market demand will keep growing quickly. In one word, the value of global LED market is expected to be up to USD 16.531 billion

There are seven major applications for LED in the 2021.

Medium- and Large-sized LED Backlight: Owing to increase in TV/NB/monitor shipments, LED market value was up to USD 1.396 billion in the year 2020. Manufacturers such as Nichia, Seoul Semiconductor, Samsung LED, Lextar and AOT made great revenue growth in backlight LED business in the year 2020.
Video LED Wall: The wider applications will recover step by step in the year 2021, such as commercial leasing, sports venues, corporate meeting rooms and outdoor digital displays. Meanwhile, raw material shortage and price increase delay the order in the first quarter of the year 2021, video wall players estimate an optimistic market recover in the second quarter this year when the current inventory is lower.
LED chip with size ranging from 75-300μm is  Mini LED. Mini LED products fall into two categories: self-emitting display (video wall) and backlight application. Driven by world-famous players such as Apple, Samsung and LG, Mini LED market value in 2021 will increase by 2.4 times.
Automotive car LED lights and Automotive Panel Display: Global automotive car led market demand has fully recovered since the fourth quarter of the year 2020, most LED players had to make lead time longer. Car led lights suppliers estimate that the market requirement will be much bigger in the year 2021. The shortage of materials, rising cost of materials and market requirement might result in increasing prices finally.
General Lighting: Lighting LED market demand is expected to increase in the year 2021 because of the governments release fiscal easing measures. Actually, owing to price increases on materials and LED chip, LED package factories have increased the LED lights price in order to keep the short gross margine. Lighting package manufacturers are active in developing high-quality and high CRI LED lighting, human centric lighting, plant growth lighting etc to achieve revenue growth.
Horticultural Lighting:  Horticultural lighting LED market was in the fast growth in the year 2020. The global horticultural lighting LED market value made a 41% increase  in the year 2020.
Invisible LED Market: The applications of infrared LED market cover security surveillance, 2.5D face recognition, driver monitoring systems and occupancy monitoring system, eye tracking, etc. Also, UV-A LED market applications for disinfecting market requirement will keep growing greatly in the year 2021, along with the main growth drivers of 3D printing, LCD lamination machine, wafer application and air purification markets.  Chinese, European, Korean and Japanese manufacturers are introducing UV-C LEDs into their new home appliances. UV-C LEDs will also be introduced into flowing water applications, manufacturing facilities and factory automation applications.
global LED market volume analysis
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