Packaged LED Market to See US$22 Billion by 2019

15 May 2015—In a report released this week, market research firm Strategies Unlimited forecasts that the worldwide market for packaged light-emitting diodes (LEDs) grew 7.6 percent in 2014 to reach US$15.6 billion in revenue. The report, The Worldwide Market for LEDs: Market Review and Forecast 2015, predicts that growth will continue through 2019 to reach US$22 billion in revenue.

The report segments the packaged LEDs market into six categories: display backlights, mobile applications, automotive lighting, signs, lighting, and other applications. The lighting category of packaged LEDs comprises 34 percent of the market, and is expected to be 45 percent of the market by 2019, the largest growth of any sector with a five-year compound annual growth rate of 14.3 percent.  This segment includes replacement lamps, commercial luminaires and outdoor luminaires.

The replacement lamp market and luminaire market are 48 percent of the lighting segment, and will continue to grow as LED adoption grows, according to the report. In spite of 20 to 30 percent price declines from 2013 to 2014, the increased use of LEDs to light our way has more than made up for the loss, and will continue to do so.