The Business Research Company’s Light Emitting Diode (LED) Global Market Report 2021: COVID-19 Impact And Recovery To 2030
LONDON, GREATER LONDON, UK, October 13, 2021 /EINPresswire.com/ — According to the new market research report ‘Light Emitting Diode (LED) Global Market Report 2021: COVID-19 Impact And Recovery’ published by The Business Research Company, the global light emitting diode market is expected to grow from $71.25 billion in 2020 to $78.29 billion in 2021 at a compound annual growth rate (CAGR) of 9.9%.The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier LED to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $124.7 billion in 2025 at a CAGR of 12%. The increased government focus on saving energy contributed to the growth of the light emitting diode market.
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The light emitting diode (LED) market consists of sales of light emitting diodes and related services. It is widely used in backlighting of TV, mobile phones, automotive lighting and display boards. An LED emits light as electrical current passes through it. LEDs are very small, consumes less electric power and can emit lights of different colors based on the semiconductor used in it.
Trends In The Global Light Emitting Diode (LED) Market
Production of LEDs specifically for horticulture is an emerging trend in the light emitting diode market. Light plays an important role in promoting the plant’s growth and LEDs have the capability to control the spectrum of the light provided to the plants irrespective of the season. The LED lights used in horticulture not only promotes growth of the fruits and plants but also enhances flavor, color and yields in a shorter time. For instance, in 2019, Cree Inc., a USA-based manufacturer of lighting class LEDs and lighting products, launched its next generation XLamp XP-E2 photo red (660 nanometre) and far red (730 nanometre) LEDs, to improve crop production under LED lights that helps to provide a unique combination of optical control, light output and high-power LED reliability to be used in horticulture.
Global Light Emitting Diode (LED) Market Segments:
The global light emitting diode market is further segmented:
By Product Type: LED Lamps, LED fixtures
By Technology: Basic LED, High Brightness LED, OLED, Polymer, Ultraviolet LED
By End-User: Residential, Commercial, Industrial
By Geography: The global LED market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
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Light Emitting Diode (LED) Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides light emitting diode (LED) market overviews, analyzes and forecasts market size and growth for the global light emitting diode (LED) market, light emitting diode (LED) market share, light emitting diode (LED) market players, light emitting diode (LED) market segments and geographies, light emitting diode (LED) market’s leading competitors’ revenues, profiles and market shares. The light emitting diode (LED) market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Read Light Emitting Diode (LED) Global Market Report 2021 from The Business Research Company for information on the following:
Data Segmentations: Market Size, Global, By Region And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Light Emitting Diode (LED) Market Organizations Covered: OSRAM Licht AG, Cree, Inc., Phillips Lighting Holding, Lumiled holding B.V, Cooper Industries, Virtual Extension, Dialight plc, Zumtobel Group AG, Samsung, Sharp Corporation, LG Innotek, General Electric Company, everylight electronics, Nichia Corporation, Broadcom Inc., Toyota Motor Corporation (Japan), Mercedes-Benz (Germany), Plessey Semiconductors Ltd., Seoul Semiconductor Co. Ltd., Moritex Corporation, STMicroelectronics, Texas Instruments, Inc., ROHM Semiconductors, Seoul Semiconductor Co. Ltd.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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