DUBLIN--(BUSINESS WIRE)--The "LED Packaging Market by Package Type (SMD, COB, CSP), Packaging Material (Lead Frames, Substrates, Bonding Wire, Encapsulation Resins), Application (General Lighting, Automotive Lighting, Backlighting), and Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global LED packaging market is projected to be valued at USD 26.39 Billion by 2023, at a CAGR of 6.2% from 2017 to 2023. The growth of the LED packaging market is expected to be driven by the increasing use of LEDs in various end-user industries such as automotive, backlighting, and other products.
The major factors driving the growth of the LED packaging market include increasing demand for high power grade LED packages for lighting applications, rising demand for LED packages in the display panel market, growing government initiatives and regulations to adopt energy-efficient LEDs, and increasing demand for smart lighting solutions. The value chain of LED packaging market comprises R&D activity, original equipment manufacturers, system integrators, marketing and sales, and after-sale service.
The LED packaging market is segmented on the basis of package type: surface mount device packages (SMD), chip on board package (COB), chip scale package (CSP), and others. Currently, the market is dominated by SMD packaging LEDs; however, the market for CSP LEDs is expected to register the highest growth rate during the forecast period. Increased adoption of chip scale package is mainly due to its advantages, such as reduced package footprint, thin profile, reduced weight, better electrical performance, and area array distribution of connections, over SMD packages.
Market Dynamics
Drivers
- Increasing Demand for High Power Grade LED Packages for Lighting Applications
- Rising Demand for LED Packages in the Display Panel Market
- Government Initiatives and Regulations to Adopt Energy-Efficient LEDs
- Increasing Demand for Smart Lighting Solutions
Restraints
- Saturation in the Market
Opportunities
- Growing Demand from Horticulture Markets
- Growth in the LED Filament Bulb Market
Challenges
- Lack of Common Open Standards
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 LED Packaging Market, by Package Type
7 LED Packaging Market, by Packaging Material
8 LED Packaging Market, by Application
9 Geographic Analysis
10 Competitive Landscape
11 Company Profiles
- Cambridge Nanotherm
- Citizen Electronics
- Cree
- Dow Corning
- Epistar
- Everlight Electronics
- Kaistar Lighting
- Kulicke & Soffa
- LG Innotek
- Lumileds
- Momentive
- Nichia
- Osram
- Samsung
- Semileds
- Seoul Semiconductor
- Stanley Electric
- Toyoda Gosei
- TT Electronics
- Xiamen Xindeco Optoelectronics
For more information about this report visit https://www.researchandmarkets.com/research/g5fhxp/global_led?w=4
