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HB-LED Market to Reach $29 Billion by 2022

A new report published by Allied Market Research, titled, "HB-LED Market by Application and Geography-Global Opportunity Analysis and Industry Forecast, 2014-2022," projects that the world HB-LED market would reach $29 billion by 2022 from $15 billion in 2015; growing at a CAGR of 10% from 2016 to 2022. In the year 2014, Asia-Pacific dominated the market and contributed more than 50% share of the overall market revenue, followed by North America. The presence of key market players in Asia-Pacific and rising HB-LED application, primarily in signs, display, and large screen backlighting have fueled the market growth.

Increasing HB-LED light applications in general lighting, cars, mobile, and large scale replacements of traditional lights as these are more cost-effective, energy-efficient, and offers longer life span drive the market growth. However, high initial investment could restrict the market growth. Moreover, it is anticipated that the rise in demand for lighting, coupled with rising government focus on energy conservation on photovoltaic technology would spur the global market growth.

In 2014, general lighting application segment dominated the global HB-LED market with over  46% share and is anticipated to maintain this lead in future as well. General lighting refers to the lighting systems that ensure the entire ambiance is lit correctly. This also includes the use of both artificial lightings such as lamps and light fixtures and natural illumination to reduce energy consumption. However, mobile application segment is anticipated to grow significantly and is expected to register a CAGR of 10.8% during the forecast period. This is due to various applications of HB-LED in mobile devices since it produces bright light with minimum electricity and instant responsiveness.

1 comment:

  1. THE ADVANTAGES OF LED LIGHTING LED (light-emitting diode) lighting is totally different from traditional lighting, as the bulbs produce light by using semi-conductors. In a nutshell, it's digital light. They don't seem to be a new phenomenon; LEDs have been used in Christmas fairy lights, remote controls and digital devices for an extended time. More just lately they've begun to be more extensively available for lighting within the house, and have shortly develop into a vastly well-liked, energy efficient lighting solution. Listed below are some of the main advantages of utilizing LED lighting: LED lights are much longer lasting than other varieties of light bulb, and the expected life of each bulb is around a hundred,000 hours. If your light was on for eight hours every day, the bulb would final somewhere within the area of 20 years. In consequence, the upkeep required to interchange the bulbs is much less too, which can be notably useful in a industrial or office environment. LEDs convert approximately 80-90% of the energy they use into light making them among the many most energy environment friendly bulbs you possibly can buy. Traditional bulbs, on the other hand, can convert as little as 10-20% of the energy they use into light, which implies the panel surya remaining 80-90% is misplaced as heat. This implies while you choose LED bulbs you are actually paying to light your private home, slightly than for the lost energy when using other, less energy environment friendly types of light bulb. Not like many energy saving light bulbs, with LED there's no need to attend for the bulbs to light up fully. They emit their full light straight away. Over time, the light they give off becomes slightly less vivid, but they don't usually burn out in the same approach that traditional bulbs can. LED lighting only requires a low-voltage energy provide, so it may possibly easily be used in conjuncttion with photo voltaic energy.

    They're more durable and hard-carrying too, and are climate and shock resistant. They can additionally stand up to extreme high and low temperatures far more efficiently than different bulbs, which makes them a unbelievable selection for out of doors lighting.

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