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Global Backlight LED Market Research Report 2020 Analysis and Forecast 2025

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Mayur Kasrung
Global Backlight LED Market Research Report 2020 Analysis and Forecast 2025

Backlight LED Market:

WiseGuyReports.com adds “Backlight LED Global Market Report 2020-30” reports to its database.

Executive Summary

The global backlight LED market was worth $1.52 billion in 2019. It is expected to decline at a compound annual growth rate (CAGR) of -0.24% and reach $1.51 billion by 2023.

The backlight LED market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America, Middle East and Africa. In 2019, Asia-Pacific was the largest region in the backlight LED market.

The Backlight LED market consists of sales of Backlight LED and related services. LED-backlit is a flat panel display which use LED backlighting instead of the cold cathode fluorescent (CCFL) backlighting. LED-backlit displays use TFT LCD (thin-film-transistor liquid-crystal display) technologies that offer reduced energy consumption, better contrast and brightness, greater color range more rapid response to changes in the scene, and photorefractive effects.

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The backlight LED market covered in this report is segmented by product type into small-sized backlight LED, mid and large sized backlight LED. It is also segmented by color into red LED, white LED, RGB LED and by application into phone, television, computer, instruments, others.

Increasing adoption of substitute technologies such as OLED is likely to restrain the backlight LED market growth. The power consumption of OLEDs is less when compared to LED’s because OLEDs generate light themselves and do not require backlighting. The battery-operated devices will be highly benefited with OLED features, thus affecting the growth of the backlight LED market.

Electric lighting equipment manufacturing companies are focusing on introducing new innovative products into the market, to compete with the competitors and gain market share. In addition to design, the manufacturers are also focusing on introducing new energy-efficient lighting products and importing new technologies to support the development of energy-efficient products, in-house R&D and strategic partnerships, which is contributing to the overall growth of backlight LED market. For instance, some of the leading lighting innovations include Reflected Sequence LED Lamp, Globe Terrarium Lights, Janus Lamp, Holon Spheres and Double Boom Chandelier.

The increasing demand for backlight LED in the advertising industry is expected to drive the market in the forecast period. Backlight LED offers high flash and fade frequencies which helps the advertisers to showcase their products with better visibility. The LED backlight produces even light with less power consumption compared to fluorescent backlights. The maintenance cost of LED backlights used in billboards is also very minimal and saves 90% on power when compared to other light bulbs. These advantages offered by LED backlights will boost the market in the forecast period.

Major players in the backlight LED market are Samsung, NICHIA, LG Innotek, Epistar, Lumileds, Seoul Semiconductor, TOYODA GOSEI, Unity Opto Technology, Genesis Photonics Inc., Shenzhen Jufei Optoelectronics Co., Ltd.

Continuous…

For further information on this report, visit – https://www.wiseguyreports.com/reports/5247115-backlight-led-global-market-report-2020-30-covid

NOTE : Our team is studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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