According to a market research report from BCC Research, the total global market for high-brightness light emitting diodes is set to increase from $5.8bn in 2005 to $6.6bn in 2006.
The report, “Light Emitting Diodes for Lighting Applications”, projects an increase to $10.6bn by 2011, an average annual growth rate (AAGR) of 10.2 per cent.
Shipments of high-brightness light-emitting diodes (LEDs) reached $4.8bn in 2005. They are projected to grow to $6.5bn in 2006 and then increase at an AAGR of 10.3 per cent to reach $8.8bn through 2011. Substrate materials for LEDs were worth more than $1.0bn in 2005 and $1.1bn in 2006. At an AAGR of 9.7 per cent, this sector of the market would eventually cross $1.8bn in 2011
High-brightness light emitting diodes operate much more efficiently than traditional bulb products. They use a fraction of the power needed for bulb technology, have much longer operating lifetimes, and are considered more environmentally friendly. LEDs have a wide range of uses in the photonic industry, solid state devices, microelectronics, automotive lighting systems, display manufacturers, mobile devices, and other applications.