Total sales volume, year-over-year growth, product categories, and market share.
Revenue Estimation
Forecasting future revenues based on historical data, market trends, and economic indicators.
Sales by Region
Breakdown of sales performance across different geographical areas.
Revenue by Manufacturer
Analysis of revenue contributions from different manufacturers in the market.
LED Packaging Market Definition
Light-emitting diodes (LEDs) have been gaining popularity compared to conventional lighting technologies like incandescent and fluorescent bulbs in recent years. This growth can be attributed to its relatively lower production costs and considerable energy savings, along with their exceptional luminosity and color rendering capabilities. The widespread acceptance of LEDs directly affects the LED packaging market. Furthermore, the growing state initiatives and supportive regulatory framework promote LEDs for environmental benefits and energy-efficient solutions. New companies focused on LED technologies are emerging worldwide.
According to data from the Office of Energy Efficiency & Renewable Energy, U.S. energy savings of 1.3 quadrillion Btu (quads) in 2018 due to LED adoption. This saved consumers USD 14.7 billion in electricity usage revenues.
The growth of the LED packaging markets is driven by the adoption of its products in several industries, such as automotive, healthcare, and others. Additionally, innovations in the lighting market are saturated, producing LEDs that provide improved night vision and enhanced side visibility. They offer small and efficient lighting solutions to a diverse set of consumers with enhanced efficiency. This demand for newer products is anticipated to support the market in the coming years.
Download
Order Databook
Actionable Solutions
