Global High-Brightness LED Market Report and Forecast 2024-2032

Global High-Brightness LED Market Outlook

The global high-brightness LED market size was approximately USD 29.05 billion in 2023. The market is projected to grow at a CAGR of 7.1% between 2024 and 2032, reaching a value of around USD 54.41 billion by 2032.

Key Trends in the Market

High brightness LEDs, also known as high power LEDs, are a semiconductor light source that emit light when an electric current passes through them. LEDs are usually available in three categories, including low-power, mid-power, and high-power. Low to mid power LEDs usually function in 0.05 W and 0.50 W while high-power LEDs operate on 1-5 watts but can go up to 40w for multi-chip lamps. They are known for their energy efficiency, long lifespan, and compact size.

• One of the major high-brightness LED market trends is the rise in environmental concern, which has propelled the utilisation of high brightness LEDs due to their exceptional energy efficiency compared to traditional incandescent or fluorescent lighting. This also substantially aids in cost saving, especially in commercial and industrial settings. Moreover, LEDs also have a higher longevity, allowing the consumer to make fewer replacements and reduce both maintenance costs and the environmental impact.

• High-brightness LEDs are becoming increasingly compact and versatile. The surge in high-brightness LED market demand is closely related to a growing trend in miniaturisation and integration across various applications. Miniaturisation has enabled the integration of LEDs into a wide range of products, including smartphones, televisions, automotive lighting, and wearables. The demand is further propelled by a strong consumer preference for compact designs, especially in consumer electronics and automotive applications.

• The rising penetration of the internet of things (IoT) has enabled the integration of high brightness LEDs with smart home control systems. The increasing popularity of smart homes across different regions significantly aids the high-brightness LED market growth. The smart control systems enable remote operation, colour adjustments, and even automation triggered by environmental conditions or user preferences. This shift is transforming how the users engage with and manage lighting across diverse settings.

Market Analysis

Based on type, the market can be segmented into automotive, general lighting, backlighting, mobile device, and signals and signage, among others. The high-brightness LED market segmentation, based on distribution channel, includes online and offline. The major regional markets for high-brightness LEDs are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global high-brightness LED market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.

• Broadcom Inc. 

• SMART Global Holdings, Inc. 

• Samsung Electronics Co. Ltd.

• Lumileds Holding B.V. 

• Epistar Corporation 

• MORITEX Corporation 

• Nichia Corporation 

• Seoul Semiconductor Co., Ltd. 

• Kingbright Company, LLC

• Others

Market Share by Type

According to the global high-brightness LED market analysis, automotive LEDs are likely to be in high demand during the forecast period owing to the increasing application of LEDs in automotive and the rapid expansion of the mobility sector. Additionally, high-brightness LEDs emit a bright, white light that closely resembles natural daylight. This provides the driver better visibility especially in adverse weather conditions and during nighttime.

Market Share by Distribution Channel

The growing demand for high power LEDs in offline marketplaces is expected to significantly enhance global high-brightness LED market share in the coming years. The increasing sales through offline channels can be attributed to the advantages of in-store shopping, such as having the opportunity to experience the actual lighting effect of LEDs in real-time. Moreover, offline stores are increasingly providing wide varieties of LEDs and in different price ranges, allowing consumers to freely choose the product of their liking.

Competitive Landscape

Broadcom Inc. is a global infrastructure company based in California, United States. The company, since its first introduction of commercial LED dot matrix displays in 1960, has established itself as one of the leading figures involved in developing and supplying semiconductor and infrastructure software solutions. It also has expertise in Bluetooth solutions, cable modems, GPS, and Satellite and IPTV STBs, among others.

SMART Global Holdings, Inc. is one of the key designers, developers, and suppliers of electronic subsystems to original equipment manufacturers. Founded in 1988, the company has established different brands, such as Penguin Solutions, Stratus, SMART Modular Technologies, and Cree LED, through which it develops and distributes intelligent platform solutions, memory solutions, and LED solutions.

Samsung Electronics Co. Ltd. is a multinational conglomerate based in South Korea. It is one of the world's largest and most influential technology companies. Samsung Electronics is a subsidiary of the Samsung Group, which is a massive business conglomerate with presence in various industries. The company conducts business in sectors, including consumer electronics, IT and mobile communications, device solutions, and research and development.

Other companies operating in the market are Lumileds Holding B.V., Epistar Corporation, MORITEX Corporation, Nichia Corporation, Seoul Semiconductor Co., Ltd., and Kingbright Company, LLC., among others.

Key Highlights of the Report