LEDs To Reach $15.7B Yearly Revenue In 2021

The COVID-19 pandemic has had a substantial impact on the LED industry in 2020, resulting in a considerable drop in market demand and a projected yearly revenue of merely US$15.127 billion, a 10 percent decrease YoY, according to TrendForce's latest investigations.

Although the YoY decline in 2020 represents a magnitude of historic proportions, as COVID vaccines become more widely available in 2021, long-term pent-up market demand will likely rebound from rock-bottom levels, resulting in a forecasted yearly revenue of $15.7 billion for the global LED industry next year, a 3.8 percent increase YoY.