LED backlighting market size is anticipated to experience substantial growth from 2016 to 2023
LED
backlighting market size is anticipated to experience substantial growth
from 2016 to 2023. Low power consumption, light and slim form factor, and high
product differentiation are the key driving factors over the forecast period.
Features offered such as dimming
backlight capability as well as wide color gamut is expected to propel LED
backlighting market growth. However, irregular availability of components may
pose a challenge. LED lighting market size is expected to exceed USD 75 billion
by 2023, and is estimated to account for majority of the overall lighting
industry.
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Escalating penetration in TFT
LCDs (Thin-Film-Transistor Liquid-Crystal Displ
ays) is likely to raise various
issues such as cost management, chip availability as well as changes in
backlight structure. Manufacturers are evaluating the strategy for optimal
backlight availability. Thus, supply chain management is predicted to be a
critical success factor for panel manufacturers and is likely to impact the LED
backlighting market size.
Increasing awareness regarding
adoption of green technologies accompanied by rising power optimization needs
is predicted to fuel demand over the forecast period. Manufacturers are
entering into partnerships or developing their own in-house supply chain
networks in order to tackle the growing demand. This may also help in
streamlining their value-chain process, reduce costs, and gain better control
over the supply.
Falling LED chips price trend may
negatively impact the LED backlighting market share over the next seven years.
Rising prominence and increasing adoption of substitute technologies such as
OLED is likely to hamper industry growth. In addition, display and power
advantages offered by OLED systems may pose a challenge to the LED backlighting
industry from 2016 to 2023.
Increasing implementation of
these devices in aircrafts, artificial satellites, and spacecrafts is likely to
present growth opportunities. It offers high reliability due to absence of
hazardous materials such as lead or mercury. These products are now finding
application in the advertisement industry for showcasing graphics as well as
the logo of the company. In addition, it is also greatly used for mood lighting
of space, thus helping in boosting visibility and converting casual viewers
into customers.
These devices have longer
lifespan and produce even light without creating shadows. They also have the
capability of fading and flashing at higher frequencies when compared to
incandescent and fluorescent lights. High flash or fade frequencies is likely
to offer designers, marketers, and advertisers more options and better control
in order to highlight their product.
Asia Pacific LED backlighting
market size is forecast to record significant growth from 2016 to 2023. This
can be attributed to the presence of a large number of OEMs, ODMs, and
electronic device manufacturers such as Samsung, Xiaomi, LG, ZTE, HTC, Huawei,
Acer, Lenovo, Sony, and Asus across the region.
Emerging nations such as China
and India are predicted to drive the global demand through 2023. China is
forecast to be one of the most attractive regions owing to the availability of
a low cost labor and presence of abundant resources. Furthermore, rising
disposable income accompanied by declining end product prices is expected to
propel regional growth from 2016 to 2023.
Japan is expected to witness
considerable growth prospects as the country is the manufacturing hub for
various automobile manufacturers such as Honda, Toyota, Nissan, Mitsubishi, and
Suzuki. In addition, escalating integration of infotainment devices by these
companies may fuel LED backlighting market growth over the forecast period.
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