LED Industry Is Witnessing Tremendous Growth

The Light Emitting Diode (LED) industry is witnessing tremendous growth of late as governments and businesses look for ways to reduce energy consumption. The high-brightness LED (HB-LED) market grew 4.3% year-on-year to $12bn in 2011, according to the report 'LEDs: The 2011 Market Review' from the European Photonics Industry Consortium. According to IMS Research, the global market for power semiconductors used in LED lighting is forecast to reach over $3 billion by 2016. According to the IMS report, titled "Opportunities for Power Components in LED Lighting," more than half of this market will come from retrofit LED lamps, which will contribute to more than $2 billion of the 2016 outlook. The expanding range of available lamps with varying electronics design, requirements and specifications are driving opportunities power semiconductor manufacturers, IMS states. According to a recent report from Digitimes, Japan's power shortages following the earthquake and tsunami of March 2011 have spurred both the public and private sector to seek ways of reducing energy consumption. Japan has set a target of achieving a 50% LED lighting penetration rate by 2015. Other nations including South Korea and China have also set significant LED lighting targets for 2015, Digitimes reports. China is becoming the premier destination of LED manufacturers. According to deputy secretary general of China Solid State Lighting Alliance, Tang Gouquin, China is likely to enlarge LED-lighting subsidization coverage, including not only more product items but also more supply sources. Source: marketwatch.com