PUBLISHER: IMARC | PRODUCT CODE: 1753988
PUBLISHER: IMARC | PRODUCT CODE: 1753988
The global high-brightness LED market size reached USD 29.1 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 46.1 Billion by 2033, exhibiting a growth rate (CAGR) of 4.98% during 2025-2033.
A high-brightness LED (HB-LED) is an advanced LED built from semiconductors that have a higher luminosity and can withstand more current levels as well as more power dissipation. LEDs of this type typically consume more than one watt of power and produce more than 50 lumens of light, thereby resulting in extremely bright light output. Compared to their traditional counterparts, they can save up to 50% to 70% of the energy consumption, resulting in significant reductions in carbon emissions. Several advantages of using these LEDs include their longer lifespan, improved dimmability, and efficiency. In addition, they are available in a wide range of sizes and can be installed in any circuit type. As a result, they are increasingly replacing the standard LED luminaires in numerous lighting applications. High-brightness LEDs find extensive applications in signs and signals, tubes and bulbs and displays of mobiles and televisions.
The market is primarily driven by the rising demand for energy-efficient and durable lighting solutions. This can be attributed to the growing concerns regarding the high levels of carbon emissions. In addition to this, favorable government initiatives supporting energy conservation and green construction practices are providing an impetus to the market. Moreover, the escalating sales of consumer electronics, such as laptops, mobiles and televisions, are also creating a positive outlook for the market. The market is further driven by continual product innovations, product launches and the reduction in the prices of HB-LED components. Furthermore, the widespread adoption of growth strategies, such as merger and acquisition (M&A) by major market players, are providing a boost to the market. Some of the other factors that are contributing to the market growth include the inflating disposable income levels of the masses and extensive research and development (R&D) activities.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Broadcom Inc., Cree LED, Epistar Corporation, Lumileds Holding B.V., Moritex Corporation, Nichia Corporation, Osram Opto Semiconductor, Samsung Electronics Co. Ltd. and Seoul Semiconductor Co. Ltd.