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LED manufacturers are branching into the niche application markets as the competition in their industry expands. Currently, entering the automotive LED market is regarded as a blue ocean strategy because the market has relatively few contestants and allows for higher pricing. According to the latest Gold Member Report – 2016 LED Market Demand and Supply Analysis by LEDinside, a division of TrendForce, the worldwide market value of exterior automotive LEDs for 2015 is expected to reach US$1.21 billion.
The latest report from LEDinside, a division of TrendForce, finds that the global average price of 40W LED replacement light bulbs fell 3.4% monthly to US$10.8 in November, while the 60W counterparts saw a 3% drop to US$14.6.
Light-emitting diode (LED) manufacturers are now looking to develop niche application markets that can provide higher margins as the price competition in the LED lighting market has become too difficult for them. Among these niche application markets, ultraviolet (UV) LED has attracted investments from many manufacturers because of its enormous market value.
Light-emitting diode (LED) manufacturers had an especially tough year in 2015. “Despite rising LED lighting market demand and the large scale replacement of traditional lighting products, the oversupply situation has caused the average LED sales prices (ASPs) to plunge 30% to 40% year on year,” said Roger Chu, research director for LEDinside, a division of TrendForce.
The scale of the LED lighting market is growing steadily, according to 2016 Global LED Lighting Market Trends Report by LEDinside, a division of TrendForce. LEDinside estimates that the scale of the LED lighting market will reach US$25.7 billion in 2015 and expand to US$30.5 billion in 2016. The penetration rate of LED lighting is also projected to climb from 31% in 2015 to 36% in 2016.
