According to TrendForce’s latest report “Gold+ Member: Global LED Market Demand and Supply Database and LED Industry Quarterly Update”, the market value of LEDs shrunk to USD 12.608 billion in 2023 due to multiple negative factors such as sluggish end-market demand, slow inventory depletion for LEDs, and fierce price wars. Entering 2024, the market demand for automotive lighting and displays, lighting (i.e., general, architectural, and agricultural lighting), LED video walls, UV/IR LEDs are likely to recover gradually. Additionally...

According to TrendForce’s latest report “Gold+ Member: Global LED Industry Data Base and LED Player Movement Quarterly Update”, soaring raw material costs and high inflation caused by the Russia–Ukraine war and pandemic woes in China have slashed consumer market demand and increased end product inventories. Therefore, TrendForce analyzes that the LED market value shrunk to USD 14.214 billion in 2022 (-19% YoY). Except for the 40% growth rate of the Mini LED backlight market, general lighting, architectural lighting, agricultural l...

According to TrendForce’s latest report “Gold+ Member: Global LED Industry Data Base and LED Player Movement Quarterly Update”, economic activities have returned in all aspects as the COVID-19 pandemic began slowing down in 2021, boosting the global LED market scale to USD 17.65 billion (+15.4% YoY), a growth rate that beats expectations. Looking to the future, market value of Mini LED backlights and video walls will continue going up, along with increased automotive LED penetration, rising demand for high-end lighting, and expanded v...

According to TrendForce latest report Gold+ Member: Global LED Industry Data Base and LED Player Movement Quarterly Update, the COVID-19 pandemic is expected to be eased in 2021. Automotive LED, video wall and lighting market demand is expected to recover, and demand for Mini LEDs will take off as well. In addition, horticultural lighting and UV LED market demand will consistently grow quickly. According to TrendForce, the LED market value in 2021 is expected to increase to 16.531 billion. TrendFoce summarized seven major applications. Me...