LED market surging
Global revenue for packaged LEDs used in lighting applications is set to soar to $7.1 billion in 2016, up from $3.6 billion in 2013, says IHS
In unit terms the market is expected to grow to 2.4 billion units in 2016, up from 520 million in 2013.
IHS forecasts average selling prices for packaged LEDs in lighting to fall to $0.19 in 2018, down from $0.25 in 2016 and $0.41 in 2013.
Packaged LED revenue in the residential sector is forecast to grow to nearly $2.7 billion in 2016, up from an estimated $850 million in 2013.