LED Chips Market – Expected to Grow at a Double Digit CAGR by 2019

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There are different lighting sources that are available in market such as tungsten photonic lighting, LED lighting, fluorescent lighting and incandescent lighting. The market growth for LED chips-based lighting is expected to overpower the waning of glowing lighting.
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LED chips are used in wide range of applications that range from backlighting in consumer electronics such as LCD TVs, laptops, and phones to lighting (street lighting, general illumination and automotive lighting). LED chips are available in different colors such as red, yellow, green, infrared, blue and white. The blue LED chip market represents highest share and red LED is second largest segment in market.
LED screens offer good quality of picture owing to higher degree of power efficiency and brightness. LED backlit provides LCD televisions better brightness than CCFL television. Hence, delivers better picture quality. There is an increase demand for energy efficient and cost effective lighting and number of other factors that boost the growth of this market. Therefore, developments in LED chip market focus at offering efficient and advanced products that would offer not only more brightness but also consumes less power.
The LED chips market is expected to grow at a double digit CAGR by 2019. Backlighting is expected to represent the largest application in coming years. This majorly owns to the growing demand of LED backlighting in LCD panels such as PC monitors, televisions and netbooks.  High brightness LED chips enjoy high growth market due to backlighting application in TVs is shifting from CCFL to LED technology.
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