LED Chip Market Expects to Grow at CAGR of 14.3% during 2021-2026

Led Chip Market

SHERIDAN, ALABAMA, UNITED STATES, February 7, 2022 /EINPresswire.com/ -- According to the latest report by IMARC Group, titled “LED Chip Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the global LED chip market reached a value of US$ 19.8 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 14.3% during 2021-2026. Light-emitting diode (LED) refers to a light source with a two-lead semiconductor. The LED chip forms the most vital and cost-intensive LED component as it determines the light output quality. After passing a current through an electrical source, the chip emits a color of light based on the dominant wavelength. Besides being cost-effective in nature, LED bulbs have lower power consumption, longer lifespan and higher luminosity, due to which they are gaining widespread prominence across the globe.

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.

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Global LED Chip Market Trends:

The global LED chip market is majorly driven by the increasing preference for cost-efficient lighting solutions among individuals. Also, the rising awareness regarding energy conservation and an enhanced focus on sustainable development among the masses are providing an impetus to the demand for LED lights as they convert electricity into energy with minimum wastage. In addition to this, continual product innovations, extensive research and development (R&D) activities, and incentives provided by governments to promote energy-efficient lighting solutions are also contributing to the market growth.

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Global LED Chip Market 2021-2026 Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players being:

AVA Technologies Inc.
Bright LED Electronics Corporation
Cree
Bridgelux
Hitachi Cable
Huga Optech
Dowa Electronics Materials Co Ltd.
Epistar Corporation
Nichia Corporation
Formosa Epitaxy Inc.
Goldeneye INC.
Kingbright
Optek Technology Ltd.
Osa Opto Light Gmbh
Osram Opto Semiconductors

Breakup by Product:

Blue LED Chips
Red LED Chips
Green LED Chips
Infrared LED Chips
Yellow LED Chips
White LED Chips
Others

Breakup by Application:

Backlighting
Illumination
Automotive
Signs and Signal
Others
Breakup by Region:

Middle East and Africa
North America
Asia-Pacific
Europe
Latin America

Key highlights of the Report:

Market Performance
Market Outlook
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

Other Report:

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.

Elena Anderson
IMARC Services Private Limited
+1 6317911145
email us here

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LED Chip Market Expects to Grow at CAGR of 14.3% during 2021-2026

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