LED Packaging Market worth USD 34.29 Billion by 2026


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LED Packaging Market – Industry Analysis and Forecast (2017-2026) _ by Type (SMD, COB, CSP, and Others), by Packaging Material (Lead Frames, Substrates, Ceramic Packages, Bonding Wire, Encapsulation Resins, and Others), by Application (General Lighting, Automotive Lighting, Backlighting, and Others), and by Geography (North America, Europe, Asia Pacific, Middle East & Africa and Latin America).

The new LEDs or light emitting devices show the advancements being made in COB packaging that are manufactured in parallel with advancements made in emitting architecture and performance.

LED Packaging Market valued USD 18.2 Billion in 2016 and expected to reach USD 34.29 Billion by 2026, at a CAGR of 6.54%.

Report includes assessment of LED Packaging Market definition along with the identification of key players and analysis of their strategies, complete quantitative analysis of the industry from 2016 to 2026 to enable the stakeholders to capitalize on the prevailing market opportunities, market analysis and comprehensive segmentation with respect to the type, packaging material, application, and geography to assist in strategic business planning.

The factors such as increasing demand for high power grade LED packages for lighting applications, rising demand for LED packages in the display panel market, growing government initiatives and regulations for adoption of energy-efficient LED lighting and increasing demand for smart LED Packaging Market solutions are some of the driving factors that have boosted the overall market growth. The LED performance mostly depends on the ambient temperature of the functioning environment. The over-driving of the LED in high temperatures may result in overheating of the complete LED Packaging Market that eventually leads to device failure. These act as some of the major restraints for the overall market growth.

The COB segment is expected to witness huge market growth and a large market share:

The COB segment has seen huge growth owing to its rising use for lighting applications. The rising focus on smart lighting, along with increasing focus on building technologies further act as drivers for the growth of COB market segment.

Asia Pacific is expected to hold a major share of the market during the forecast period:

The demand for LED packaging materials in China has increased exceptionally and is likely to witness growth in the future as well owing to continuous government efforts to introduce subsidies and incentives for increasing production capacity, thereby boosting the growth of the LED Packaging Market in Asia Pacific region. .

Scope of the Report:

LED Packaging Market, by Type: SMD, COB, CSP, and Others

LED Packaging Market, by Packaging Material: Lead Frames, Substrates, Ceramic Packages, Bonding Wire, Encapsulation Resins, and Others

LED Packaging Market by Application: General Lighting, Automotive Lighting, Backlighting, and Others

LED Packaging Market, By Geography: North America, Europe, Asia Pacific, Middle East, Africa and Latin America
For more information, visit: https://www.maximizemarketresearch.com/market-report/led-packaging-market/872/

LED Packaging Market, Market research company


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