Trade Resources Industry Views Electronicast Forecasts That The Consumption Value Will Grow at 27% Per Year

Electronicast Forecasts That The Consumption Value Will Grow at 27% Per Year

ElectroniCast Consultants, has announced the release of their 2013 market review and forecast of the worldwide use of High Brightness Light Emitting Diodes (HB-LED) Driver Integrated Circuits (ICs) in illumination.  Values include LED Driver IC (packaged chip only).

According to ElectroniCast, the worldwide total consumption value of HB-LED Driver ICs reached $1.79 billion in 2012.  During the 2012-2019 timeline, the consultancy forecasts that the consumption value will grow at an average annual rate of 27 percent to $9.59 billion in the year 2019. [1]   Market forecast data in this study report refers to consumption (use) for a particular calendar year; therefore, this data is not cumulative data.

The light emitting diode (LED) market, despite exciting innovative devices driven by technological advances and ecological/energy-saving concerns, still face challenges in overcoming performance/price limitations and in attracting widespread consumption.  The use of HB-LED Driver ICs in general lighting, as well as several other applications studied by ElectroniCast, is increasing. For example, in the general lighting application, the increase in consumption is initially driven from government-based retrofitting projects – then to commercial/business – and eventually to the consumer-level.

High Brightness (HB) LEDs face the challenge of creating definitive positions in the illumination market, as competing lighting solutions are readily available and generally accepted.  While this does not limit the potential success of HB-LEDs, it does create some challenges.  High Brightness (HB) LEDs, defined by ElectroniCast for the purpose of this study as component-level bulbs (packaged LEDs) with a lumens/Watt rating of 30 lm/W and above. 

[1]  All values and prices in this report are at factory as-shipped levels, and are in current dollars, which include the effect of a forecasted 5 percent annual inflation rate over the forecast period.

Source: http://www.ledinside.com/news/2013/2/electronicast_consultants_hb_led_driver_ics_20130220
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Electronicast Consultants: Worldwide Use of Hb-LED Driver Ics Grow at 27% Per Year
Topics: Lighting