LED Chip Market
by Rahul Rastogi Market Research Analyst
LED chip market is projected to exceed US$ 37.0 Billion by 2024, expanding at a CAGR of around 14% during 2019-2024.
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- Based on the product, the market has been segregated into blue, red, green, infrared, yellow, white and other LED chips.
- On the basis of the application, the market has been segmented into backlighting, illumination, automotive, signs and signal, and others.
- Region-wise, Asia Pacific represents the largest market for LED chips around the world, owing to a large number of industry participants in the region.
- The competitive landscape of the market has also been examined with some of the key players being AVA Technologies Inc., Bright LED Electronics Corporation, Cree, Bridgelux, Hitachi Cable, Huga Optech
- The LED chip market is presently witnessing double-digit growth owing to the strong demand for LED lighting products.
Review on LED Chip Market
The LED chip market is presently witnessing double-digit growth owing to the strong demand for LED lighting products. These lights are more energy-efficient in terms of power consumption and offer a high luminous intensity. Moreover, LED lights utilize electroluminescence to produce light by converting electricity into visible light with minimum wastage and heat generation.Related to LED Chip Market
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