Global Backlight Led Market 2024 , Forecast To 2033
7 Mar, 2024
The backlight LED market has experienced a marginal decline in recent years, with its size decreasing from $0.85 billion in 2023 to $0.84 billion in 2024 at a compound annual growth rate (CAGR) of -1.6%. This decline in the historic period is attributed to the impacts of COVID-19 and the conflict between Russia and Ukraine. Looking ahead, the market is anticipated to continue its marginal decline, reaching $0.8 billion in 2028 at a CAGR of -1.1%, primarily due to the high cost of production and pricing factors. Major trends expected in the forecast period include the adoption of mini-LED and micro-LED displays, the demand for high-dynamic-range (HDR) and wide color gamut displays, advancements in edge-lit and direct-lit backlighting, customization and flexibility in displays, and integration with smart and IoT devices.
Global Backlight LED Market Key Driver
The backlight LED market is projected to expand owing to increasing demand in the advertising industry. Backlight LEDs offer advantages such as high flash and fade frequencies, even light production with minimal power consumption, and low maintenance costs, making them preferable for advertising displays. These attributes position backlight LEDs as a preferred choice in the advertising industry, driving market growth in the forecast period.
Get A Free Sample Of The Global Backlight LED Market ReportGlobal Backlight LED Market Segments
The backlight led market covered in this report is segmented –
1) By Product Type: Small-Sized Backlight LED, Mid And Large Sized Backlight LED
2) By Color: Red LED, White LED, RGB LED
3) By Application: Phone, Television, Computer, Instruments, Other Applications
By Geography: The countries covered in the backlight led market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada
Asia-Pacific was the largest region in the backlight LED market in 2023. North America is the second-largest region in the backlight LED market report. The regions covered in the backlight led market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Backlight LED Industry Players
Samsung Electronics Co. Ltd.; NICHIA CORPORATION; LG Innotek Co. Ltd.; Epistar Corporation; Lumileds Holding B.V.; OSRAM GmbH; Koninklijke Philips N.V.; Cree Inc.; LG Corporation; Sharp Corporation; Everlight Electronics Co. Ltd.; AU Optronics Corp.; NEC Corporation; Mitsubishi Electric Corporation; Sony Group Corporation; JF Technology Berhad; Broadcom Inc.; ON Semiconductor Corporation; Texas Instruments Incorporated; Analog Devices Inc.; Infineon Technologies AG; STMicroelectronics N.V.; NXP Semiconductors N.V.; Renesas Electronics Corporation; Maxim Integrated Products Inc.; Microchip Technology Inc.; Silicon Laboratories Inc.; Skyworks Solutions Inc.; Qorvo Inc.; Murata Manufacturing Co. Ltd.; TDK Corporation; Panasonic Corporation; Toshiba Corporation; Hitachi Ltd.
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Backlight LED Market Overview
A light emitting diode (LED) is a semiconductor device that emits light as an electrical current pass through it. LED-backlit displays use TFT LCD (thin-film-transistor liquid-crystal display) technologies that offer reduced energy consumption, better contrast and brightness, a greater color range, a more rapid response to changes in the scene, and photorefractive effects.