Asia Pacific Light Emitting Diodes (LED) Market - Top Trends and Key Players Analysis Report

Asia Pacific Light Emitting Diodes (LED) Market - Know the Prominent Factors That Will Help in Reshaping the Market Growth

WILMINGTON, DELAWARE, UNITED STATES, May 7, 2024 /EINPresswire.com/ -- Asia Pacific LED Market (Light Emitting Diodes Market) is expected to garner $35.8 billion by 2020, registering a CAGR of 15.7% during the forecast period 2015-2020. Light emitting diodes (LED) are basic components used in a variety of devices such as smartphones, medical instruments, and automobiles. Earlier the application of LED was restricted to certain lighting requirements and had not entered the conventional applications in general lighting. However, the recent applications of LED as general lighting have boosted the market. In the coming years, LED is expected to capture the conventional CFL and CCFL lighting market due to advanced features and higher performance. Moreover, it is a more effective solution for all lighting, as well as other application purposes such as backlighting in large screen displays, non-backlight displays (OLED), and many others.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂: https://www.alliedmarketresearch.com/request-sample/1158

Apart from the aforementioned benefit, the initial cost of LED lighting is comparatively high which restricts its acceptance. However, considering the longer product life offered by LEDs, the overall long-term cost of the same is found to be very low in comparison to CFLs. In coming years, consumers will gain awareness regarding the benefits of the longer product life of LED lamps which would accelerate the adoption rate of LED lamps. Growing display and large screen backlighting applications, falling cost of LED lamps, longer life span, and high efficacy of LED are key factors that drive the market.

The APAC LED market is expected to grow at a double-digit rate during the forecasted period. The flourishing real estate industry, favorable government initiatives, and increased funding for high-efficiency lighting along with the continuous replacement of existing outdoor lighting, are expected to drive the market dynamically. The Asia Pacific region would go on to become a principal consumer of LED products and should become a major supplier of LED chips and packages, supplemented with the rising demand for products and components.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮’𝐫𝐞 𝐑𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭𝐬: https://www.alliedmarketresearch.com/request-for-customization/1158

The falling price of LEDs is one factor that may limit the growth of this market; however, the growing demand in newer application areas would overrun this restraint and propel the market growth.

Manufacturers should focus on developing tailored products to address the unique needs and preferences of the market that are anticipated to rise in the future.

Companies operating in this market are strategically diverse as they deal with different operations in the LED value chain. Key players in the LED market are Samsung Electronics Co. Ltd, Seoul Semiconductor Co. Ltd, Philips Lumileds Lighting Company, Cree Incorporation, Nichia Corporation, and OSRAM Licht AG contributing major revenue for this region.

𝐈𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/1158

𝐊𝐄𝐘 𝐁𝐄𝐍𝐄𝐅𝐈𝐓𝐒

- Current and future trends adopted by the key market players are highlighted to determine the overall competitiveness of the market
- Porter's Five Forces analysis and SWOT analysis of the key market players are provided to illustrate the business strategies adopted by buyers and suppliers
- The technology-effective drivers and opportunities are highlighted to describe the top factors responsible for the market growth
- Various operating segments of the APAC LED market are carefully analyzed to measure the potential of the market
- The quantitative analysis of the market through 2014-2020 is provided to elaborate the market potential

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.

David Correa
Allied Market Research
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