LED Packaging Market: Overview
The LED technology caught the attention of the lighting industry by providing compact and efficient lighting systems with power-saving technologies and improved performance to a diverse group of customers. Therefore, manufacturers concentrate on LED architecture for the appropriate LED packaging and final product viability. The LED packaging design process specifically influenced variables such as temperature-controlled system, wavelength adjustment, luminescence efficiency, life cycle, and others, which lowered the total running costs. Hence, there is growing demand of LED solutions due to the developments in the LED packaging technologies of power LED chips. The major drivers of market growth include the growing demand for high-performance LED packaging for lighting application, the demand for LED packaging on the display panel market and the policy initiatives and regulations for adopting energy-efficient LEDs. The market value chain covers the R&D operation, the manufacturing of original equipment, integration systems, marketing and sales, as well as post-sales support.
LED Packaging Market: Dynamics
Growing Residential Segment demand to boost the industry
The outlook for the residential & departmental sector has been largely positive, guided by a change in market demand for energy-efficient lighting, including LEDs. In fact, the latest policies and rising customer awareness are projected to have a major effect on the LED Packaging Market.
The growing popularity of LEDs will also contribute to the introduction of intelligent lighting (connected lighting) systems in industries. As, the versatility of the LEDs, the powered devices are more likely to benefit from the use of LEDs than conventional light sources in terms of colour variability and brightness.
In many applications, LEDs are used, including general lighting, vehicle illumination and backlighting. Owing to the growth of residential and industrial lighting applications, LED packaging in the general lighting applications are projected to have the largest market size. The potential for large-scale energy saving is the main growth driver in LEDs for general lighting uses.
In view of the increasing demand for LEDs for different industrial applications such as manufacturer bay areas, Assembly unit areas and other processing areas, the market for industrial lighting applications is expected to be rising at the highest rate and will drive the market for LED packaging.
LED Packaging Market: Segmentation
Globally, the LED Packaging Market is divided on the basis of Material, Product Type, & Application.
On the basis of material used, the global LED Packaging market is segmented into:
- Ceramic Packages
- Encapsulation Resins
On the basis of product type, the global LED Packaging market is segmented into:
- Chip-on-board (COB)
- Surface-mount Device (SMD)
- Chip Scale Package (CSP)
On the basis of Application, the global LED Packaging market is segmented into:
- General Lighting
- Automotive Lighting
- Packaging Industries
- Other End-users
LED Packaging Market: Regional Outlook
Asian-Pacific lighting systems are currently undergoing a major transition, as LED lighting systems are being introduced by companies in this area in industry because of their improved performance. This will boost the market for LED Packaging market. In the last five years, China has steadily reduced the export of radiant light bulbs. This means more modern and efficient technologies will quickly overtake obsolete technology. So, advancement in LED packaging market will also see a vital growth.
A good response was given to the initiative of the Indian government to introduce cost-effective LEDs across end users. The country is about to substitute for normal LED packaging and introduce smart LEDs for road signals for all street lamps. This move is expected to increase local LED manufacturers' demand, leading to the growth of the LED packaging industry.
New manufacturers are coming into production because of the growing demand for advanced LED lighting system from customers. There is, therefore, a growing demand for LED packaging in the region.
LED Packaging Market: Key Players
- Samsung Electronics Co. Ltd
- OSRAM Opto Semiconductors GmbH
- Nichia Corporation
- LG Innotek
- Seoul Semiconductor Co. Ltd
- Stanley Electric Co. Ltd
- Lumileds Holding BV
- Everlight Electronics Co. Ltd
- Toyoda Gosei Co.
- Dow Corning
- Citizen Electronics Co. Ltd
- TT Electronics PLC
COVID-19 impact on LED Packaging Market
COVID-19 has impacted the LED Packaging market as continuous lockouts have resulted in a poor power demand in all major markets, and demand for LED packaging four Easter weekends for at least five years has been the lowest. In 2020, numerous markets have seen rapid growth in renewables supplies, which has taken coal and gas production down in tandem with low demand which hamper the growth of LED packaging.
A grid-edge development application for enhanced diagnostics and remote operations, the Coronavirus mitigation steps may also catalyse further investment for LED Packaging. The adverse effects of coronavirus on investment plans are supposed to be mitigated over long selling cycle periods of LED Packages.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
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The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
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Below is a snapshot of these quadrants.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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