LONDON--(BUSINESS WIRE)--Technavio's latest market research report on the global CSP LED lighting module market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global CSP LED lighting module market will grow at a CAGR of close to 36% during the forecast period. Improvement in supply chain efficiency will result in overall cost optimization which in turn is expected to be a major factor driving the growth of the market.
The supply chain for a CSP LED lighting module differs from that of a traditional LED supply chain, mainly due to the elimination of the packaging process.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio's current offers
In this report, Technavio highlights the increasing interest in human-centric lighting as one of the key emerging trends driving the global CSP LED lighting module market:
Increasing interest in human-centric lighting
A major trend that has been identified by Technavio is the increasing interest in human-centric lighting. Human-centric lighting, as the name suggests, indicates that lighting should not be limited only to energy savings, but it should be used to improve the mental and physical condition of human beings. The proper use of dimming lights, along with continuous cooling transformation (CCT) shifting (more commonly known as Kelvin shifting) can be used for improving circadian rhythms, moods, performance, and visual acuity in a human being. An example is the use of different wavelengths of light to help balance children's mood (such as warm yellow light when it is quiet and cold, and blue hues of light when they require stimulating). Such lights tap into the hardwired circadian rhythms and have a positive effect on a human being.
The human body has evolved with Earth's natural lighting cycle. This includes low light levels in the morning, high light levels in the afternoon, low light levels in the evening and extremely low light levels in the night. These varying light levels are in accordance with the circadian rhythms in a human being. But, with the advent of artificial lighting, most of the lighting that humans use remains constant and does not vary with the Earth's cycle. With most humans spending time more time indoors, the light remains a constant. As a result, this can cause issues with the circadian rhythm, which can result in several health issues. With natural lighting, the body secretes several important hormones for day to day activities, some of which include cortisol, dopamine, melatonin, and serotonin.
According to a senior analyst at Technavio for lighting research, "Scientists are increasingly focusing on human-centric lighting to prevent health issues as this will help to improve the circadian rhythm to match earth's natural lighting cycle. Hence, the need for human-centric lighting will result in the growth of the global CSP LED lighting module market during the forecast period."
Looking for more information on this market? Request a free sample report
Technavio's sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Global CSP LED lighting module market - segmentation analysis
This market research report segments the global CSP LED lighting module market by application (smartphone flash and flashlights, backlighting, and others) and key regions (the Americas, APAC, and EMEA).
The backlighting segment dominated the market in 2017 with a market share of over 61% followed by the smartphone flash and flashlights segment. However, the backlighting segment is expected to witness a significant drop of over 10% in its market share by 2022.
In 2017, the global CSP LED lighting module market by geography was dominated by APAC with a market share of around 70% followed by the Americas and EMEA. The market share of APAC is expected to witness a further increase of over 3% by 2022, while the other two regions are expected to witness a decline in their market shares.
Technavio's best deals of the month!
Mark the beginning of spring with Technavio. Get 30% discount on all energy reports. Offer valid from 12th March for a limited period.
Get 20% off on all Media and Entertainment Services reports. Offer valid only till the 31st of March.
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at email@example.com.