LED Wafer and Chip Market by Type (LED wafer, LED chip), Application (Electronic Products, Car, Space), Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027
/EIN News/ — Newark, NJ, May 16, 2022 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global LED Wafer and Chip market is expected to grow from USD 6.42 Billion in 2019 to USD 21.37 Billion by 2027, at a CAGR of 16.22% during the forecast period 2020-2027. Asia Pacific held the highest market value of USD 2.71 Billion in 2019. This is owing to the increasing demand of lighting product in the region and high consumer base.
LED Wafer and Chip Market by Type (LED wafer, LED chip), Application, Region, Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2020 to 2027
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The major companies for global LED wafer and chip market are Nichia, EPISTAR, Osram, Cree, LG Innotek, and among others. In December 2019, AMS had acquired Osram, which was for long time the world’s second-largest lighting outfit and now focusing more on photonics than on illumination.
The market has been segmented on the basic of type, application and region. Type segment includes LED wafer and LED chip. The LED chip segment held the highest market value of USD 3.94 Billion in 2019. The LED chips are essential part of the LED wafer and growing utilization of LEDs in general and automotive lighting. Application segment includes electronic products, car, space, and other. Electronic products segment held the highest market valued of USD 3.34 Billion in 2019 because there is an increase in the use of electronic devices and equipment.
There is an increase in the penetration rate of LED market around the world due to its use in several applications such as TV, signs & displays, and others. This is widely used in the automotive industry from the use of traditional light sources to products such as headlamps and interior lights. Such factors are also driving the LED wafer and chip market. The government focus on energy saving solutions the rise in utility rebates and the increase in display and large screen backlighting market are the factors that propel the LED market which in turn drives the LED wafer and chip market. This also will be the driving factor in the forecasting period. However, the high initial cost act as a restrain for market growth. The wafer and chip cost is an important factor in promoting the LED applications.
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About the report:
The global LED Wafer and Chip market is analysed on the basis of value (USD Million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.
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originally published at Science - Reality Syndicate Viewers
This news story originally appeared at Science - Reality Syndicate Viewers on 17 May 2022