The Asia Pacific market dominated the global LED market in 2015 and would continue till 2022 thereby achieving a market value of $ 21,168.7 Million by 2022 growing at a CAGR of 13.1% during the forecast period. The LED market globally is in it nascent stage of adoption. Use of LED's in automobile and mobile phone backlighting applications has given the necessary drive to the LED market.
Awareness about the natural environment among the human population is higher than ever; therefore, there is an overwhelming demand for green construction, which is one of the major factors that drive the adoption of LED globally.
Additionally, the growth in the display market and falling prices of LED lamps are other favorable factors contributing to the growth of the LED market. Nevertheless, the cost associated with replacing conventional lighting would be a factor that would hinder the market growth High brightness LEDs (HB-LEDs) are widely used in automotive, signals and signage's in the North American region. Major mobile companies such as Apple Incorporation have incorporated Organic LEDs (O-LED) in their mobile phones, which would contribute to the growth of the LED market.
The Asia Pacific LED market is segmented into technology, application and geography. The technology segment is further divided into technologies used in manufacturing final products such as Basic LED, High Brightness LED (HB-LED), Organic LED (O-LED) and Polymer LED. The application segment is divided into automotive, backlighting, general lightning, mobiles, signal and signage. Key Players profiled in the report includes Cree Incorportaion, Samsung Electronics, Nichia Corporation, LG Innotek, Philips, Toyoda-Gosei, Osram Light and Seoul Semiconductors.
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