This week, LED lighting market research firm Strategies Unlimited announced some very positive research about LED lighting as well as the LED industry as a whole. Strategies Unlimited measured the LED component revenue for lighting applications and noted that it reached $3.11 billion in 2012, just beating out the large area display backlight segment at $3.06 billion for top LED application.
This is good news for sapphire, as the substrate for more than 80 percent of the world’s LEDs. The more demand for LEDs and LED lighting, the greater demand for sapphire. Examining lighting further, Strategies Unlimited said that the total illumination market for 2012 is estimated at $14.52 billion. LED lighting, including 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.
Another interesting area of growth is the automotive market. Beyond the Audi A8s with their signature eyebrow LED headlights, LEDs are catching on with other auto makers. Strategies Unlimited puts the total market for LEDs in the automotive segment at $1.4 billion in 2012 and estimates that it will grow to $2.1 billion in 2017. Where’s the growth? The firm says the number of cars with LED headlights nearly doubled in 2012. LED daytime running lights also contributed to the growth.
Here’s a look at how LED applications break out according to Strategies Unlimited:
Strategies Unlimited, WORLDWIDE LED COMPONENT MARKET GROWS 9% WITH LIGHTING RANKING FIRST AMONG ALL APPLICATION SEGMENTS,ACCORDING TO STRATEGIES UNLIMITED, http://www.strategies-u.com/articles/2013/02/worldwide-led-component-market-grew-9–to–13-7-billion-with-lig.html
Solid State Technology, Worldwide LED component market grows 9% with lighting, http://www.electroiq.com/articles/sst/2013/02/worldwide-led-component-market-grows-9-percent-with-lighting-.html?cmpid=EnlLedFebruary132013