Global LED packaging market is estimated to be up to USD 22.1 billion by the year 2026

The LED packaging market is categorized into package type, application, power range, wavelength, and packaging material. Among these, the wavelength segment is divided into Deep UV and visible & infrared. Deep UV LED is expected to hold the largest market share of the global market by 2027. Based on their power range, UV LEDs are classified as Low- and mid- power LED packages and High-power LED packages. High-power LED packages are expected to be the leading market segment in printing, coatings, and adhesive applications, as longer wavelength ranges easily penetrate deeply into the material. Then again, UV-B LEDs are used for biomedical research purposes. UV-C based LEDs are a popular choice for sterilization and disinfection. During the global covid-19 pandemic, the UV-C LEDs are still in surging market demand nowdays. 

As a market leader of LED packaging, Asia Pacific is expected to keep fast growing pace from 2021 to 2026) owing to the increase in adoption of high-end consumer electronics, like wearable and smartphones in China and Japan. These devices needs more and more micro LED and flash LED packages. Also, Asia Pacific has become a global hub for large investments and business growth opportunities. The modernization and development of infrastructure such as smart cities across the Asia Pacific would also drive the market requirement for smart street lighting so as to make a big market for LED packages.

The global LED packaging market is estimated to grow from USD 17.6 billion in 2021 to USD 22.1 billion by 2026, at a CAGR of 4.6%.

The demand for IoT-enabled lighting fixtures and smart lighting solutions, increases demand for LED packages in display panel market. Also, increased demand for UV LED-based disinfection systems among COVID-19, and government initiatives and regulations encouraging the use of LEDs for energy efficiency and environmental benefits are encouraging the LED packaging market growth.

The LED packaging market consist of major Tier 1 and Tier 2 manufacturers and suppliers like Nichia, OSRAM, Lumileds, Seoul Semiconductor, Samsung, MLS, Cree, EVERLIGHT, NationStar, and LITE-ON. 

According to some market survery reports, the global LED packaging market is estimated to grow from USD 17.6 billion in 2021 to USD 22.1 billion by 2026, at a CAGR of 4.6%.