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Worldwide LED Component Market Grows 9% With Lighting Ranking First Among All Application Segments, According To Strategies Unlimited

MOUNTAIN VIEW, Calif., Feb. 12, 2013 /PRNewswire/ -- LED component revenue for lighting applications reached $3.11 billion in 2012, narrowly dethroning the Large Area Display Backlight segment at $3.06 billion, according to Strategies Unlimited, the leading market research firm covering the LED industry.  The worldwide market for LED components was $13.7 billion and is expected to grow to $16.4 billion in 2017, for a CAGR of 3.7%.

The total illumination market for 2012 is estimated at $14.52 billion.  LED lighting includes LED replacement lamps and luminaires is estimated at $11.72 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 $3.06 billion 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 $1.7 billion in 2017.

The total market for LEDs in the automotive segment was $1.4 billion in 2012, and is projected to grow to $2.1 billion in 2017. The number of cars with LED headlights nearly doubled in 2012. Revenue for 2012 was $97 million and the five-year CAGR is projected to be 36%.

While LED revenue from tablets grew 54% to $578 million, 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 $958 million in 2017, for a 5 year CAGR of -7%.

The signage segment is expected to grow to $2.4 billion in 2017, for a CAGR of 7%.  Use of LEDs in signage and channel letters grew 7% to $1.7 billion 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:

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