According to the latest report by IMARC Group, titled “LED Chip Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global LED chip market reached a value of US$ 19.8 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 14.3% during 2021-2026. Light-emitting diode (LED) refers to a light source with a two-lead semiconductor. The LED chip forms the most vital and cost-intensive LED component as it determines the light output quality. After passing a current through an electrical source, the chip emits a color of light based on the dominant wavelength. Besides being cost-effective in nature, LED bulbs have lower power consumption, longer lifespan and higher luminosity, due to which they are gaining widespread prominence across the globe.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global LED Chip Market Trends:
The global LED chip market is majorly driven by the increasing preference for cost-efficient lighting solutions among individuals. Also, the rising awareness regarding energy conservation and an enhanced focus on sustainable development among the masses are providing an impetus to the demand for LED lights as they convert electricity into energy with minimum wastage. In addition to this, continual product innovations, extensive research and development (R&D) activities, and incentives provided by governments to promote energy-efficient lighting solutions are also contributing to the market growth.
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Global LED Chip Market 2021-2026 Analysis and Segmentation:
Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being:
- 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
Breakup by Product:
- Blue LED Chips
- Red LED Chips
- Green LED Chips
- Infrared LED Chips
- Yellow LED Chips
- White LED Chips
Breakup by Application:
- Signs and Signal
Breakup by Region:
- Middle East and Africa
- North America
- Latin America
Key highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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