According to a new report by ApacMarket.com, "Asia-Pacific Light Emitting Diodes (LED) ( China, Japan, South Korea, India) Market (Technology, Application and Countries) - Analysis, Segmentation and Forecast, 2014 - 2020", the Asia-Pacific LED market is expected to reach $35.79 billion by 2020, at a CAGR of 15.7% during the forecast period (2015-2020). The high brightness LED segment is expected to grow swiftly and continue to account for the highest market share, contributing to over 60% of the total market revenue, throughout the forecast period (2015-2020).
Asia-Pacific is the largest market for LEDs in the world. The market scenario in this region features aggressive expansions of production facilities by manufacturers and projects an optimistic outlook. Major companies such as Samsung SDI and RIT Display are investing substantially on the development of advanced OLED display technologies. The UV LED segment, though at nascent stage currently, is forecast to grow at a rapid rate due to its increasing application in medical treatments and forensic tests. Early adoption of UV LED technology in Japan and China, and growing prospects in healthcare sector across developing regions such as India, are expected to largely contribute to the growth of UV LED technology. Growth in medical tourism and the lower cost of treatments are expected to further strengthen the adoption of UV LED technology, especially in developing countries of the region.
General lighting and mobile devices are the two largest segments where LED technology is implemented. Mobile devices segment accounts for about 27% of the total LED market revenue in 2014 and would remain the top segment throughout the forecast period. On the other hand, general lighting segment accounts for nearly 25% of the total revenue of Asia-Pacific LED market in 2014. Both residential and commercial applications will boost the market for general lighting during the forecast period. However, residential users are expected to drive the market with a slower adoption rate than commercial applications in offices, hotels, hospitals and other areas.