According to a new report by ApacMarket.com, "Asia-Pacific Light Emitting Diodes (LED) (China, Japan, South Korea, India) Market(Technology, Application and Countries) - Analysis, Segmentation and Forecast, 2014 - 2020", the Asia-Pacific LED market is expected to reach $35.79 billion by 2020, at a CAGR of 15.7% during the forecast period (2015-2020). The high brightness LED segment is expected to grow swiftly and continue to account for the highest market share, contributing to over 60% of the total market revenue, throughout the forecast period (2015-2020).
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Asia-Pacific is the largest market for LEDs in the world. The market scenario in this region features aggressive expansions of production facilities by manufacturers and projects an optimistic outlook. Major companies such as Samsung SDI and RIT Display are investing substantially on the development of advanced OLED display technologies. The UV LED segment, though at nascent stage currently, is forecast to grow at a rapid rate due to its increasing application in medical treatments and forensic tests. Early adoption of UV LED technology in Japan and China, and growing prospects in healthcare sector across developing regions such as India, are expected to largely contribute to the growth of UV LED technology. Growth in medical tourism and the lower cost of treatments are expected to further strengthen the adoption of UV LED technology, especially in developing countries of the region.
General lighting and mobile devices are the two largest segments where LED technology is implemented. Mobile devices segment accounts for about 27% of the total LED market revenue in 2014 and would remain the top segment throughout the forecast period. On the other hand, general lighting segment accounts for nearly 25% of the total revenue of Asia-Pacific LED market in 2014. Both residential and commercial applications will boost the market for general lighting during the forecast period. However, residential users are expected to drive the market with a slower adoption rate than commercial applications in offices, hotels, hospitals and other areas.
Key findings of the study:
Increasing application of LEDs in general lighting, mobile devices and other applications has compelled manufacturers to focus on innovative LED lightning products and amplify their production. Companies are adopting alliance and partnership, and product launch as their key strategies to gain a higher market share. For instance, OSRAM entered into an agreement with Sharp Corporation for the cross licensing of patents. The agreement comprises patents of both the companies in the field of opto-electronic semiconductor components and lighting products. Prominent companies profiled in the report include Samsung Electronics Co. Ltd., Cree Corporation, Seoul Semiconductor Co. Ltd., Osram Licht AG, Nichia Corporation, LG Innotek Co. Ltd., GE Lighting Solution, Toyoda Gosei Co. Ltd., Philips Lumileds Lightning Company and Panasonic Corporation.
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