Status of the LED Industry
Growth of the LED industry has come initially from the small display application and has been driven forward by the LCD display application. In 2012, general lighting has surpassed all other applications, representing nearly 39% of total revenue of packaged LEDs. Indeed, the LED TV crisis of 2011 (following an overestimation of the market) had the benefit of decreasing LED prices and intensifying the competitive environment. As a matter of fact, LED-based lighting product prices have decreased more rapidly than expected, increasing the penetration rate of the technology.
Yole Développement estimates packaged LED will reach a market size of $13.9B in 2013 and will peak to $16B by 2018. Growth will be driven mainly by general lighting applications (45% to 65% of total revenue during this period), completed by display applications.
Regarding display and other applications, most products currently on the market integrate LED technology. Saturation mixed with strong price pressure and competition from OLED will make most of these markets decline starting from 2013 / 2014. Contrary to general lighting, overcapacity (inducing price pressure) has engendered a decrease in market size more rapidly than predicted.
This report presents all applications of LED and associated market metrics within the period 2008-2020, detailing for each application: drivers & challenges, associated volume and market size (packaged LED, LED die surface), penetration rate of LEDs, and alternative technologies (…). For general lighting, a deeper analysis is developed with details on each market segment.