(LED) Light Emitting Diode Market To Grow At A CAGR 15.97% during 2019-2023

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The global light emitting diode (LED) market was worth $68.5 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 15.97% and reach $123.89 billion by 2023.

— Abdul Wasay

LONDON, GREATER LONDON, UK, March 26, 2020 /EINPresswire.com/ — The global light emitting diode (LED) market is expected to grow at a rate of about 15.97% and reach $123.89 billion by 2023. The increased government focus on saving energy contributed to the growth of the light emitting diode (LED) market. LED lamps are more efficient in terms of energy consumption and provides high luminous intensity. However, the harmful effects of LEDs on human health restricts the growth of light emitting diode (LED) market. LEDs use shortwave light and prolonged exposure can damage the vision of a person.
The light emitting diode (LED) market consists of sales of LEDs and related services. It is widely used in backlighting of TV, mobile phones, automotive lighting and display boards. An LED emits light as electrical current passes through it. LEDs are very small, consume less electric power and can emit lights of different colors based on the semiconductor used in them.

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The global light emitting diode (LED) market is further segmented based on type and geography.
By Type – The light emitting diode (LED) market is segmented into basic LED, high brightness LED, OLED, polymer, and ultra violet LED.
By Geography – The global light emitting diode (LED) is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific light emitting diode (LED) market accounts for the largest share in the global light emitting diode (LED) market.

Trends In The Light Emitting Diode (LED) Market
Production of LEDs specifically for horticulture is an emerging trend in the light emitting diode (LED) market. Light plays an important role in promoting the plant’s growth and LEDs have the capability to control the spectrum of the light provided to the plants, irrespective of the season.

Potential Opportunities In The Light Emitting Diode (LED) Market
With improved earning capacity and growing demand due to growing population, the scope and potential for the global light emitting diode (LED) market is expected to significantly rise in the forecast period.
Major players in the market are OSRAM Licht AG, Cree, Inc., Phillips Lighting Holding, and Lumiled holding B.V, Cooper Industries, Virtual Extension, Dialight plc, Zumtobel Group AG, Samsung, and Sharp Corporation.

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Light Emitting Diode (LED) Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides light emitting diode (LED) market overviews, analyzes and forecasts light emitting diode (LED) market size and growth for the global light emitting diode (LED) market, light emitting diode (LED) market share, light emitting diode (LED) market players, light emitting diode (LED) market size, light emitting diode (LED) market segments and geographies, light emitting diode (LED) market trends, light emitting diode (LED) market drivers and light emitting diode (LED) market restraints, light emitting diode (LED) market’s leading competitors’ revenues, profiles and market shares. The light emitting diode (LED) market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Where To Learn More
Read Light Emitting Diode (LED) Global Market Report 2020 from The Business Research Company for information on the following:
Markets Covered: global light emitting diode (LED) market
Data Segmentations: light emitting diode (LED) market size, global and by country; historic and forecast size, and growth rates for the world, 7 regions and 12 countries
Light Emitting Diode (LED) Market Organizations Covered: OSRAM Licht AG, Cree, Inc., Phillips Lighting Holding, and Lumiled holding B.V, Cooper Industries, Virtual Extension, Dialight plc, Zumtobel Group AG, Samsung, and Sharp Corporation.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Time Series: Five years historic (2015-19) and forecast (2019-23).

Place a Direct Purchase Order of Complete 150+ pages report with Table of Contents (Individual License USD 4000) @ https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=2767 .

Other Information And Analyses: PESTEL analysis, light emitting diode (LED) market customer information, light emitting diode (LED) market product/service analysis – product examples, light emitting diode (LED) market trends and opportunities, drivers and restraints, key mergers and acquisitions, key metrics covered: number of enterprises, number of employees, global light emitting diode (LED) market in 2020 – countries offering most new opportunities
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.

Strategies For Participants In The Light Emitting Diode (LED) Industry: The report explains a number of strategies for companies in the light emitting diode (LED) market, based on industry trends and company analysis.
Opportunities For Companies In The Light Emitting Diode (LED) Sector: The report reveals where the global light emitting diode (LED) industry will put on most $ sales up to 2023.

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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. Here is a list of reports from The Business Research Company similar to Light Emitting Diode (LED) Global Market Report 2020:

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Source: EIN Presswire