SHERIDAN, UNITED STATES, Oct. 5, 2022 /EINPresswire.com/ — According to IMARC Group’s latest report, titled “LED Chip Market: Global Industry Trends, Share, Size, Growth, Opportunities and Forecasts 2022-2027.” The global LED chip market size reached US$21.7 billion in 2021. Looking ahead, IMARC Group expects the market to reach $47.8 billion by 2027, at a CAGR of 13.96% over 2022-2027. Light Emitting Diodes or LED chips represent the core components in the LED lighting systems. It is available in numerous categories including Blue LED chips, Red LED chips, Green LED chips, Infrared LED chips, Yellow LED chips, White LED -Chips and more. These LED chip variants have different ratings based on voltage, wavelength, and brightness. They mainly help determine the color and quality of lights such as red, blue, green, white, and yellow, and help improve the efficiency of lighting systems. Consequently, LED chip materials find extensive application in backlight, lighting, automotive, signs and signals, etc.
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Global LED Chip Market Trends:
The increasing use of LED lighting in interior and exterior parts of vehicles is primarily driving the LED chip market. In addition, the development of high-performance chip-on-board circuits (COB) and micro-LED technologies that offer excellent performance in brightness and contrast compared to organic light-emitting diodes (OLED), ensuring a fast response time and low power consumption, and reliability also have a positive impact on market growth. In addition, increasing LED niche lighting in harbor lighting, fisheries lighting, healthcare lighting, marine and horticultural lighting, and increasing investment by leading market players in product innovation to improve the characteristics of LEDs for high-end applications are key growth-enhancing factors. Apart from that, the increasing product acceptance in communication technology and for the development of new video displays and sensors continues to catalyze the global market. Furthermore, due to the sudden spread of the COVID-19 pandemic, the emerging trend of using ultraviolet-C (UVC) LED products, mainly for surface disinfection, is expected to propel the LED chip market in the coming years.
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Analysis and Segmentation of Global LED Chip Market 2022-2027:
Competitive landscape with key players:
The competitive landscape of the industry has also been studied, along with the profiles of the major players:
• AVA Technologies Inc.
• Bright LED Electronics Corporation
• Hitachi cable
• Huga Optech
• Dowa Electronics Materials Co Ltd.
• Epistar Corporation
• Nichia Corporation
• Formosa Epitaxy Inc.
• GOLDENEYE INC.
• Optek Technology Ltd.
• Osa Opto Light GmbH
• Osram opto semiconductors
Breakdown by product:
• Blue LED chips
• Red LED chips
• Green LED chips
• Infrared LED chips
• Yellow LED chips
• White LED chips
Separation by application:
• Signs and signals
Breakdown by region:
• North America (United States, Canada)
• Asia Pacific (Germany, France, UK, Italy, Spain, others)
• Europe (China, Japan, India, Australia, Indonesia, Korea, others)
• Latin America (Brazil, Mexico, others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
• Market performance (2016-2021)
• Market Outlook (2022-2027)
• Porter’s Five Forces Analysis
• Market drivers and success factors
• Comprehensive mapping of the competitive landscape
Note: If you require specific information that is not currently included in the scope of the report, we can provide it to you as part of the customization.
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