High Brightness LED Market size revenue to exceed $22bn by next seven High life span of the LED bulbs is predicted

High Brightness (HB) LED Market size forecast to
exceed USD 22 Billion by next seven years: Global
Market Insights Inc.
Overview
Global High Brightness (HB) LED Market size was evaluated at more than $ 15 billion for
2015 and is predicted to surpass revenue of $22 billion by end of 2023 at CAGR of 4.9%.
Growing government focus on power conservation is predicted to drive expansion of the
industry in future. Increasing use of high brightness LED bulbs in heat responsive
applications like food illumination and textile due to infrared radiation absence is predicted to
promote the industry growth during forecast timeframe.
These high brightness LED (light emitting diode) bulbs offer enhanced efficacy in
comparison to other kinds of bulbs. These equipments are strong and are predicted to have
greater lifespan as compared to traditional incandescent bulbs with life time range of 50,000
hours to 100,000 hours. LED technology is one of the effective light sources and helps in 50
to 70 percent of power savings as compared to conventional technologies. It also helps in
reducing carbon emissions and thus propels the demand & growth of the industry during
forecast timeframe.
High life span of the LED bulbs is predicted to minimize maintenance and replacement costs.
This factor drives installation of these equipments at comparatively inaccessible locations.
Producers are now concentrating on low global high brightness (HB) LED market cost
strategy to fuel the demand for bulbs in future.

But high cost per lumen and highinitial price is predicted to hinder the acceptance across the
sector. High price is owing to comparative low lumen power production supply. Cool white
LED (light emitting diode) bulbs emit extra blue light as compared to traditional sources of
light like sodium bulbs. This light causes pollution which can be a serious threat to
environment in future. All these factors can inhibit the growth of industry.
Application Overview

The industry is segmented into lightning application and mobile application. Lightning
application is predicted to surpass $7.4 billion by registering CAGR of about 6% during

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