LED surge driven by general lighting applications, says Yole
General lighting applications are driving the LED industry, says Yole Développement.
“In 2012, most companies have moved to the new “El Dorado” of LED business: general lighting, which represents the next killer application for LEDs. But enabling massive adoption of the technology for such an application still requires a large decrease in the cost of LED-based products…,” says Yole’s Pars Mukish.
Initially LED growth came from small display application and has been driven forward by the LCD display application. LED TV was expected to be the LED industry driver for 2011 but the reality was quite different.
Lower adoption of LEDs in the TV market and the entry of several new players, mostly from Asia, created overcapacity, price pressure and strong competition. As a consequence, packaged LED volume was about 30% lower than expected and revenue shrank due to strong ASP pressure.
LED revenue will increase to $11.4bn in 2012 and will peak at $17.1bn by 2018, says Yole.
Growth will be driven both by the display (LCD TV) and general lighting applications until massive adoption of LEDs in lighting. From 2014, the third growth.