Global LED Chip Market Analysis Report, 2019 - $15Bn+ Market Opportunity Forecasting & Insights
The LED chip market is projected to grow at a CAGR of 9.73% during the forecast period to reach a market size of US$15.594 billion in 2024 from US$8.933 billion in 2018.
Growing adoption of energy-efficient LED lighting and interlighting is the major driver of the LED chip market, also includes Indoor COB LED Chips. Supportive government policies and incentives to boost the usage of LED lights is further escalating the production of LED lights which, in turn, is augmenting the demand for More segmentation LED lighting solutions such as Standard 80CRI, 90CRI Commercial lighting, Sunlike Full spectrum high CRI 3500K sunlight Healthy lighting, and even for specialty white LED chips, such as gobo projector LED, Stage lighting LED, follow spot led chips. Wattage from 30w to 600w, using Flip chip technology. Increasing applications of LED lights in industries such as automotive lighting and transportation lighting is another factor behind the growth of LED Chip market. SMD2835 SMD3030 SMD5050 and COB1313 COB1919 COB2828 COB3838 packages are still the hottest models for LED light source.
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