High Brightness LED Market size revenue to exceed $22bn by next seven High life span of the LED bulbs is predicted | Page 2

forecast timeframe. The expansion can be credited to rising customer confidence and constant
rise in down light sales, replacement bulb sales and sale of industrial & commercial items.
Mobile application is predicted to touch $3.61 billion by end of 2023 and register a CAGR of
5.1% during forecast timeframe. Growing acceptance of mobile equipments is predicted to
fuel the demand of LED bulbs in future.
U.S. high brightness (HB) LED market size, by application, 2012-2023 (USD Billion)

Regional Overview

APAC, with China & India, high brightness (HB) LEDmarket was evaluated at more than $7
billion for 2015 and is predicted to register CAGR of 5.51% during forecast timeframe. Many
countries in APAC like Japan and China have taken initiatives for power conservation by
making use of LED technology. For example, China is promoting use of LED technology by
offering incentive and discounts. It is also assisting the local LED manufacturing firms to
enhance their production capacity.
Europe high brightness (HB) LED market share is predicted to display substantial expansion
due to presence of many key industry players in the region. It is predicted to register CAGR
of 4.4% during forecast period.

Read full market research report “High Brightness (HB) LED Market Size By Application
(Backlight TV/monitor, Mobile, Sign (Signal Devices & Advertising Panels), Lighting,
Automotive), Industry Analysis Report, Regional Outlook (U.S., China, Japan, South
Korea), Application Potential, Price Trends, Competitive Market Share & Forecast, 2012 –
2023”, please click on the link below:
https://www.gminsights.com/industry-analysis/high-brightness-HB-LED-market

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