According to the latest report by IMARC Group, titled "Flash LED Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global flash LED market reached a value of US$ 4.8 Billion in 2021. Flash LED is a light-emitting component that is used as a source of illumination for the camera flash. It is widely utilized for capturing good-quality images and videos in low lighting conditions. It offers smaller dimensions, enhanced mechanical stability, longer flash duration, and red-green-blue (RGB)-LED adjustable color temperature adaptable spectrum. It also provides various other advantages to the users, such as excellent resistance to shock, minimized heat radiation and lower power consumption. It supports a wide-angle view with exceptional luminosity for high-resolution images and videos. As a result, it is widely used as an essential component in the manufacturing of feature phones, smartphones and digital cameras.
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.
Global Flash LED Market Trends:
The global market is primarily driven by the increasing sales of high-end smartphones. The growing integration of flash LEDs with smartphones can be attributed to the escalating need for pictures and videos with higher pixel count and light output, even in low-light conditions. Coupled with the rising consumer spending on smartphones with premium cameras and flash LEDs, this is expected to provide an impetus to the market growth. Along with this, the growing adoption of smartphones with 3D cameras for improved picture quality is also acting as another major growth-inducing factor. The market is further driven by the shifting preference of the masses from xenon flashlights to flash LEDs for digital cameras. Since flash LEDs require relatively less power consumption and offer improved illumination capacity, they are widely gaining prominence among end users as the preferred substitute. Moreover, extensive research and development (R&D) activities by players have led to the introduction of programmable and dual flash LED, which is expected to create a positive outlook for the market. This, coupled with the launch of flash LEDs that can also function as autofocus assist lamps or AF illuminators in low-light and low-contrast conditions, is expected to provide an impetus to the market growth. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 6.3 Billion by 2027, growing at a CAGR of 4.6% during 2022-2027.
- On the basis of the power consumption, the market has been bifurcated into less than 1 A and more than or equal to 1 A.
- Based on the types of device, the market has been classified into smartphones, feature phones and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico, Argentina and others), and Middle East and Africa (Turkey, Saudi Arabia, Iran, the United Arab Emirates and others).
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Cree Inc., Epistar Corporation, Everlight Electronics Co. Ltd., Shenzhen Jufei Optoelectronics Co. Ltd., Lumileds Holding B.V., LG Innotek, Osram Gmbh., Samsung, Semileds Corporation, and Seoul Semiconductors Co. Ltd.
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