Research and Markets has added a new report titled "Global LED Chips Market 2011-2015" to its portfolio. Analysts from TechNavio have predicted that the global LED vchips market would grow at a compounded annual growth rate (CAGR) of 21.6% in the semiconductor industry during the period of 2011-2015.
One of the important factors responsible for the growth of this market is the LED’s cost-effectiveness when compared to other conventional lighting products. The backlighting applications for TVs have also been widened in the global LED chips market. Yet, the market is witnessing a slower rate of transition from traditional lighting products to LED system, which could be a challenge to its growth.
The vendors dominating the electronics industry markets include Toyoda Gosei, Luminus, Hitachi Cable, Seoul Semiconductors, Philips Lumileds Lighting, OSRAM Opto Semiconductor GmbH, Nichia, Epistar and Cree.
TechNavio's Hardware team analyst commented that the LED chips can provide high brightness and are widely used in TV as backlight. One of the major factors responsible for the market growth is the adoption of LED technology instead of conventional cold-cathode fluorescent lamp (CCFL) technology by original equipment manufacturers to provide backlighting for TVs.
The report shows that the rising popularity of LEDs among consumers has enabled manufacturers in the consumer electronics industry to add LEDs to their product portfolio. Manufacturers are now producing LED panels, automotive applications and Liquid Crystal Display (LCD) panels for home appliances like TVs. Further, the Government sector has installed LEDs in government offices, streets and public places since LEDs offer several advantages like cost effectiveness and low emissions.
