Semiconductors & Electronics Industry High-Brightness LED Market Overview 2024 | Page 2

Your CatalystTo a Lucrative Business
Automotive is expected to exhibit the fastest growth over the forecast period at a 10.2% CAGR from 2017 to
2024. Although LEDs have penetrated the automotive market, HB LEDs are increasingly used as a safety
measure for visibility along with reducing the power consumption. Increasing production of automobiles is
expected to propel the sales of these lighting solutions over the next few years.
Keeping these driving factors in mind, companies are ramping up their production capacity as well as seeking
out new joint ventures to improve their distribution system. For instance, in March 2017, Samsung signed a
MoU with Elec-Tech International (H.K) Co, Ltd. to leverage the latter’s technology and market share in China.
On the other hand, ETi is likely to benefit from Samsung’s patent protection and brand strength.
As the demand for high-brightness LEDs has been growing, it has led companies to increase their fabs. The
LED manufacturing industry has roughly added 100 new fabs in the last five years increasing the ta lly to 169
fabs worldwide.
Hexa Research has segmented the global high-brightness LED market based on application and region:
Segmentation by application, 2014 - 2024 (USD Million)
• Consumer Electronic
• General Lighting
• Automotive
• Signals and Signage
Segmentation by region, 2014 - 2024 (USD Million)
• North America
• U.S.
• Europe
• Germany
• UK
• Asia Pacific
• China
• India
• Rest of the World (RoW)
Key players analyzed:
• Lumileds Holding B.V.
• Epistar Corporation
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