Global LED Chip Market to Reach US$ 75.5 Billion by 2032, Fueled by Expanding Product Applications Across Various Industries

June 02, 2023 | Electronics and Semiconductors

According to the latest report by IMARC Group, titled “LED Chip Market Report by Product (Blue LED Chips, Red LED Chips, Green LED Chips, Infrared LED Chips, Yellow LED Chips, White LED Chips, and Others), Application (Backlighting, Illumination, Automotive, Signs and Signal, and Others), and Region 2024-2032,” the global LED chip market size reached US$ 28.1 Billion in 2023. An LED chip, or a light-emitting diode chip, is a vital component of light-emitting diodes (LEDs). It is a small semiconductor device that emits light when an electric current passes through it. The LED chip is typically made from a semiconductor material, such as gallium nitride (GaN) or indium gallium nitride (InGaN), that allows them to emit light efficiently when electrons and holes recombine within the chip's structure. LED chips offer several advantages over traditional lighting technologies, such as high energy efficiency, longer lifespan, enhanced durability, and resistance to shocks and vibrations. As a result, LED chips find a range of applications in various industries and products, including general lighting, automotive lighting, electronic displays, signage, and horticulture lighting.

Global LED Chip Market Trends:

The widespread demand for cost-effective and energy-efficient lighting across numerous industries is primarily driving the market growth. LED chips are highly durable and have a longer life span compared to traditional lighting solutions, such as incandescent bulbs or fluorescent tubes, which is propelling their adoption. Moreover, the implementation of stringent government regulations and policies aimed at reducing carbon emissions and promoting energy-efficient lighting solutions are positively impacting the market growth. In addition to this, the increasing demand for general lighting across the residential, commercial, and industrial lighting fixtures and the surging product utilization as backlighting in televisions, smartphones, laptops, and digital signage are presenting remunerative growth opportunities for the market. Concurrent with this, the rising demand for LED-based automotive lighting, such as headlights, taillights, and interior lighting, is acting as a significant growth-inducing factor. Furthermore, ongoing technological advancements in LED chip design and manufacturing processes resulting in improved performance, higher efficacy, and increased reliability are contributing to the market growth. Besides this, the integration of LED chips with built-in sensors, connectivity features, and the Internet of Things (IoT) technology to enable smart lighting solutions employed in smart homes and smart cities are aiding in market expansion. Looking forward, the market value is projected to reach US$ 75.5 Billion by 2032, expanding at a CAGR of 11.3% during 2024-2032.

Market Summary:

On the basis of the product, the market has been segregated into blue, red, green, infrared, yellow, white, and other LED chips. Currently, blue LED chips dominate the market, holding the largest share.
Based on the application, the market is categorized into backlighting, illumination, automotive, signs and signal, and others. Among these, backlighting represent the biggest market segment.
On a regional basis, the market has been segmented into Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America. Presently, Asia Pacific enjoys the leading position in the market.
The competitive landscape of the market has also been examined, with some of the key players being AVA Technologies, Inc., Bright LED Electronics Corporation, Cree, Inc, Bridgelux, Inc., Hitachi Cable, Ltd., Huga Optech, Inc., Dowa Electronics Materials Co., Ltd., Epistar Corporation, Nichia Corporation, Formosa Epitaxy, Inc., Goldeneye, Inc., Kingbright Electronic Co. Ltd., Optek Technology (TT Electronic PLC), OSA Opto Light GmbH, and Osram Opto Semiconductors GmbH.

Report Scope:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion
Segment Coverage	Product, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	AVA Technologies, Inc., Bright LED Electronics Corporation, Cree, Inc., Bridgelux, Inc., Hitachi Cable, Ltd., Huga Optech, Inc., Dowa Electronics Materials Co., Ltd., Epistar Corporation, Nichia Corporation, Formosa Epitaxy, Inc., Goldeneye, Inc., Kingbright Electronic Co. Ltd., Optek Technology (TT Electronic PLC), OSA Opto Light GmbH and Osram Opto Semiconductors GmbH
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
134 N 4th St.
Brooklyn, NY 11249, USA
Email: Sales@imarcgroup.com
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Global LED Chip Market to Reach US$ 75.5 Billion by 2032, Fueled by Expanding Product Applications Across Various Industries

Purchase options

Single User License ~~$3899~~ $2999
Five User License ~~$4899~~ $3999
Corporate User License ~~$5899~~ $4999

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.