MOUNTAIN VIEW, Calif.
Feb. 12, 2013
/PRNewswire/ -- LED component revenue for lighting applications reached
in 2012, narrowly dethroning the Large Area Display Backlight segment at
, according to Strategies Unlimited, the leading market research firm covering the LED industry. The worldwide market for LED components was
and is expected to grow to
in 2017, for a CAGR of 3.7%.
The total illumination market for 2012 is estimated at
. LED lighting includes LED replacement lamps and luminaires is estimated at
billion—an increase of 26% between 2011 and 2012—and it is forecast to grow at a CAGR of 12% over 2012-2017.
LEDs used in large display (TV and monitors) backlights also reached a new record at
in 2012. This is chiefly due to the success in penetrating the CCFL stronghold of the 32-inch TV.
Chubby TVs will spread from 32 inches in both directions in size. It is expected to reach TVs 42 to 50 inches size in 2013-2014. With drastic reduction in number of LEDs used and rapid price erosion, the large display market for LEDs is expected to decline to
The total market for LEDs in the automotive segment was
in 2012, and is projected to grow to
in 2017. The number of cars with LED headlights nearly doubled in 2012. Revenue for 2012 was
and the five-year CAGR is projected to be 36%.
While LED revenue from tablets grew 54% to
, the overall mobile segment dropped 3%. The drop in notebook backlight demand, the OLED success in smart phone display, and the general demand decline for other small and medium display will take the segment down to
in 2017, for a 5 year CAGR of -7%.
The signage segment is expected to grow to
in 2017, for a CAGR of 7%. Use of LEDs in signage and channel letters grew 7% to
in 2012. Full-color signs contributed more than 80% of the revenue.
On the supply side, 11 companies accounted for more than 72% of the LED market. Strategies Unlimited arrived at these figures after analyzing market demand as well as the supply-side activity of more than 54 LED component suppliers. The rank order of the top 11 suppliers in the LED market for 2012, by revenue of packaged LED components, is: