Market research firm Strategies Unlimited expects the LED industry to be in a slow phase and the overall market will exceed $11 billion in 2012. High-brightness LEDs will grow by 12% in 2008.
Bob Steele said that in 2007 the market grew by 9.5% to $4.6 billion, which is 6% higher than in 2005 and 2006. In the next five years, the acceleration of the growth of applications outside of mobile phones is expected to accelerate further. Bob Steele expects a 20% compound annual growth rate over the next five years, while sales in 2012 are expected to climb to $11.4 billion.
Strategies Unlimited expects that the largest LED application market in 2012 will be 44% for indicator lights and display panels (including LCD monitors, LCD TV backlights). In 2007, the main application market for LEDs was mobile phones, with a market share of 44%. In addition, global sales of solid-state lighting in 2012 will climb from $320 million in 2007 to $1.37 billion.
During 2004 and 2007, shipments rose 26% annually to approximately 39 billion units, while average sales prices have fallen by approximately 16%. Overall, the product structure has changed. High power packages currently account for 10% of the market.
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