Chip Scale Package (CSP) LED Market expected to be worth $1,744.8 million by 2023
Chip Scale Package (CSP) LED Market by Application (Backlighting Unit (BLU), Flash Lighting, General Lighting, Automotive, Others), Power Range (Low- & Mid-Power, and High-Power), and Geography (APAC, North America, Europe, RoW) - Global Forecast to 2023
(EMAILWIRE.COM, October 05, 2018 ) According to the new research report "Chip Scale Package (CSP) LED Market by Application (Backlighting Unit (BLU), Flash Lighting, General Lighting, Automotive, Others), Power Range (Low- & Mid-Power, and High-Power), and Geography (APAC, North America, Europe, RoW) - Global Forecast to 2023", the CSP LED market is estimated to be USD 757.7 million in 2018 and is likely to reach USD 1,744.8 million by 2023, at a CAGR of 18.2% between 2018 and 2023. The low-cost potential of CSP LEDs with a low bill of materials, which is because of the manufacturing process, where several packaging steps are omitted, is a major factor driving the growth of the CSP LED market. High competition in the packaged LED market has led to the development and launch of new and innovative CSP LEDs with improved designs and high-end specifications.
Don’t miss out on business opportunities in Chip Scale Package (CSP) LED Market. Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalyst.asp?id=117133318
General lighting and automotive segments to define the growth of CSP LED market in next 5 years
The adoption of CSP LEDs in general lighting and automotive will play a crucial role in the growth of the market during the forecast period. Demand for CSP LEDs is expected to increase rapidly in the next 5 years mainly from these two segments offering growth opportunities to CSP LED manufacturers. The market for automotive is expected to grow at the highest CAGR during the forecast period. There is negligible adoption of CSP LEDs in automotive segment, majority of which is in replaceable headlights, which are being supplied by local/regional vendors by utilizing CSP LEDs from manufacturers such as Seoul Semiconductor. Though, the market size for CSP LEDs in the automotive segment is very small, it is expected that demand for mid- and high-power CSP LEDs will increase exponentially 2018 onwards when automotive manufacturers and automotive lighting suppliers start adopting CSP LEDs for new installations.
Browse and in-depth TOC on "Chip Scale Package (CSP) LED Market"
34 - Tables
53 - Figures
128 - Pages
View more detailed TOC @
https://www.marketsandmarkets.com/Market-Reports/chip-scale-package-led-market-117133318.html
High-power CSP LEDs to be the main focus of CSP LED suppliers during the forecast period
High-power CSP LEDs are expected to dominate the CSP LED market during the forecast period. With the exponential growth in demand for CSP LEDs in automotive and general lighting during the forecast period, high-power CSP LEDs will find use in several applications such as automotive headlight, high bay lighting, street lighting, and architectural lighting.
APAC to account for the highest demand for CSP LEDs in the next 5 years
A majority of LCD displays are produced in APAC, especially in South Korea, Taiwan, China, and Japan; owing to which, this region registered the largest shipment of CSP LEDs. The dominance of APAC is mainly due to South Korea, followed by China, Japan, and Taiwan with high demand for CSP LEDs for display backlighting, mobile flash, and other applications. CSP LEDs reduce the total number of LEDs required per backlighting panel along with the form factor of the BLU. The presence of leading CSP LED manufacturers and customers (i.e. smartphone vendors, backlighting panel integrators, and display panel manufacturers) in APAC is the reason for the dominance of the region in the market. The growth in APAC will also be driven by the rise of newer CSP LED applications in general lighting and automotive. Surge in demand for these applications will be because of high economic growth in the region and focus of governments towards energy efficient lighting solutions.
Request for Free Sample Report @ https://www.marketsandmarkets.com/requestsample.asp?id=117133318
Major players in the market are Lumileds (The Netherlands), Samsung (South Korea), Seoul Semiconductor (South Korea), LG Innotek (South Korea), OSRAM (Germany), Nichia (Japan), EPISTAR (Taiwan), Cree (US), Genesis Photonics (Taiwan), and Lumens (South Korea).
Browse Adjacent Markets @ Semiconductor and Electronics Market Research Reports & Consulting
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Don’t miss out on business opportunities in Chip Scale Package (CSP) LED Market. Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalyst.asp?id=117133318
General lighting and automotive segments to define the growth of CSP LED market in next 5 years
The adoption of CSP LEDs in general lighting and automotive will play a crucial role in the growth of the market during the forecast period. Demand for CSP LEDs is expected to increase rapidly in the next 5 years mainly from these two segments offering growth opportunities to CSP LED manufacturers. The market for automotive is expected to grow at the highest CAGR during the forecast period. There is negligible adoption of CSP LEDs in automotive segment, majority of which is in replaceable headlights, which are being supplied by local/regional vendors by utilizing CSP LEDs from manufacturers such as Seoul Semiconductor. Though, the market size for CSP LEDs in the automotive segment is very small, it is expected that demand for mid- and high-power CSP LEDs will increase exponentially 2018 onwards when automotive manufacturers and automotive lighting suppliers start adopting CSP LEDs for new installations.
Browse and in-depth TOC on "Chip Scale Package (CSP) LED Market"
34 - Tables
53 - Figures
128 - Pages
View more detailed TOC @
https://www.marketsandmarkets.com/Market-Reports/chip-scale-package-led-market-117133318.html
High-power CSP LEDs to be the main focus of CSP LED suppliers during the forecast period
High-power CSP LEDs are expected to dominate the CSP LED market during the forecast period. With the exponential growth in demand for CSP LEDs in automotive and general lighting during the forecast period, high-power CSP LEDs will find use in several applications such as automotive headlight, high bay lighting, street lighting, and architectural lighting.
APAC to account for the highest demand for CSP LEDs in the next 5 years
A majority of LCD displays are produced in APAC, especially in South Korea, Taiwan, China, and Japan; owing to which, this region registered the largest shipment of CSP LEDs. The dominance of APAC is mainly due to South Korea, followed by China, Japan, and Taiwan with high demand for CSP LEDs for display backlighting, mobile flash, and other applications. CSP LEDs reduce the total number of LEDs required per backlighting panel along with the form factor of the BLU. The presence of leading CSP LED manufacturers and customers (i.e. smartphone vendors, backlighting panel integrators, and display panel manufacturers) in APAC is the reason for the dominance of the region in the market. The growth in APAC will also be driven by the rise of newer CSP LED applications in general lighting and automotive. Surge in demand for these applications will be because of high economic growth in the region and focus of governments towards energy efficient lighting solutions.
Request for Free Sample Report @ https://www.marketsandmarkets.com/requestsample.asp?id=117133318
Major players in the market are Lumileds (The Netherlands), Samsung (South Korea), Seoul Semiconductor (South Korea), LG Innotek (South Korea), OSRAM (Germany), Nichia (Japan), EPISTAR (Taiwan), Cree (US), Genesis Photonics (Taiwan), and Lumens (South Korea).
Browse Adjacent Markets @ Semiconductor and Electronics Market Research Reports & Consulting
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact Information:
MarketsandMarkets™
Mr. Shelly Singh
Tel: 1-888-600-6441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results
MarketsandMarkets™
Mr. Shelly Singh
Tel: 1-888-600-6441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results