DUBLIN, April 21, 2020 /PRNewswire/ -- The "Global Backlight LED Markets 2020-2030: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.
The global backlight LED market was worth $1.52 billion in 2019. It is expected to decline at a compound annual growth rate (CAGR) of -0.24% and reach $1.51 billion by 2023. In 2019, Asia-Pacific was the largest region in the backlight LED market.
This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider backlight LED market, and compares it with other markets.
Major players in the backlight LED market are Samsung, NICHIA, LG Innotek, Epistar, Lumileds, Seoul Semiconductor, TOYODA GOSEI, Unity Opto Technology, Genesis Photonics Inc., Shenzhen Jufei Optoelectronics Co., Ltd.
The increasing demand for backlight LED in the advertising industry is expected to drive the market in the forecast period
Backlight LED offers high flash and fade frequencies which helps the advertisers to showcase their products with better visibility. The LED backlight produces even light with less power consumption compared to fluorescent backlights. The maintenance cost of LED backlights used in billboards is also very minimal and saves 90% on power when compared to other light bulbs. These advantages offered by LED backlights will boost the market in the forecast period.
Increasing adoption of substitute technologies such as OLED is likely to restrain the backlight LED market growth
The power consumption of OLEDs is less when compared to LED's because OLEDs generate light themselves and do not require backlighting. The battery-operated devices will be highly benefited with OLED features, thus affecting the growth of the backlight LED market.
Electric lighting equipment manufacturing companies are focusing on introducing new innovative products into the market, to compete with the competitors and gain market share
In addition to design, the manufacturers are also focusing on introducing new energy-efficient lighting products and importing new technologies to support the development of energy-efficient products, in-house R&D and strategic partnerships, which is contributing to the overall growth of backlight LED market. For instance, some of the leading lighting innovations include Reflected Sequence LED Lamp, Globe Terrarium Lights, Janus Lamp, Holon Spheres and Double Boom Chandelier.
Key Topics Covered
1. Executive Summary
2. Backlight LED Market Characteristics
3. Backlight LED Market Size And Growth
3.1. Global Backlight LED Historic Market, 2015 - 2019, $ Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Backlight LED Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Backlight LED Market Segmentation
4.1. Global Backlight LED Market, Segmentation By Product Type, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
Small-Sized Backlight LED
Mid And Large Sized Backlight LED
4.2. Global Backlight LED Market, Segmentation By Color, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- Red LED
- White LED
- RGB LED
4.3. Global Backlight LED Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5. Backlight LED Market Regional And Country Analysis
5.1. Global Backlight LED Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
5.2. Global Backlight LED Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
- LG Innotek
- Seoul Semiconductor
- TOYODA GOSEI
- Unity Opto Technology
- GENESIS Photonics
- Shenzhen Jufei Optoelectronics
For more information about this report visit https://www.researchandmarkets.com/r/34gc9w
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