The global visible LED market is anticipated to grow at a considerable CAGR of 13.2% during the forecast period (2023-2030). The automotive segment has emerged as a lucrative application segment for LED drivers, as the industry is shifting toward high-brightness light-emitting diodes and Light Amplification by Stimulated Emission of Radiation (LASER) lights from conventional high-intensity discharge lamps (HID) & halogen lights. In April 2021, Samsung Electronics, a world leader in advanced digital component solutions, announced PixCell LED, a new automotive LED module optimized for intelligent headlights, such as adaptive driving beam (ADB) systems. ADB headlamps powered by Samsung’s PixCell LEDs help improve driver visibility and safety, enhancing the overall driving experience at night and in poor weather conditions such as fog or heavy rain. Companies are engaging in partnerships, and collaborations, and expanding their product offerings to expand their market share. Factors that drive the growth of the LED lighting automotive market are less energy requirement which leads to financial savings, environment-friendly, owing to minimum use of mercury, and less flickering. Furthermore, the lower production cost of LED light is anticipated to provide a lucrative LED Market Opportunity.
Browse the full report description of “Visible Light Emitting Diode (LED) Market Size, Share & Trends Analysis Report Market by Technology Type (AlInGaN, AlInGaP, and AlGaAs), by Application (Indoor, and Outdoor), and by End Users (Commercial, Residential, Industrial) Forecast Period (2023-2030)” at https://www.omrglobal.com/industry-reports/visible-leds-market
Technological advancements also drive the market growth for example, In July 2023, OSRAM, a global leader in optical solutions, introduced new technology that greatly simplifies the implementation of dynamic, color- and intensity-changing arrays of hundreds of RGB LEDs in car interior lighting. In January 2023, Nichia Corporation and Infineon Technologies AG announced the launch of the industry’s first fully integrated micro-LED (hereinafter µPLS light engine) light engine for high-definition (HD) adaptive driving beam applications.
Market Coverage
• The market number available for – 2022-2030
• Base year- 2022
• Forecast period- 2023-2030
• Segment Covered-
o By Technology Type
o By Application
o By End Users
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- includes Everlight Electronics Co., Ltd., OSRAM International GmbH, Ushio Europe b.v., Sharp Corp., and General Electric among others.
Key questions addressed by the report
• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?
Global Visible LED Market Report Segment
By Technology Type
By Application
By End Users
Global Visible LED Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
To learn more about this report request a sample copy @ https://www.omrglobal.com/request-sample/visible-leds-market