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The LED packaging market is expected to reach USD 26.39 billion by 2023 from USD 18.41 billion in 2017, at a CAGR of 6.2%NEW YORK, Jan. 11, 2018 /PRNewswire/ -- Read the full report: https://www.reportlinker.com/p05281356 APAC expected to register the highest growth rate in LED packaging market during the forecast period APAC accounted for the largest market for LED packaging in 2016. It is expected to be the fastest-growing market owing to the growth of applications such as general lighting, automotive, and backlighting. The surge in demand for applications such as general lighting, automotive, and backlighting is driven by high economic growth in the region. This, in turn, favors the growth of the LED packaging market in this region. These factors are encouraging many established market players to expand their reach in the region. The growth of the market in APAC is mainly driven by China, Japan Taiwan, and South Korea as these countries account for the largest market share of LED packaging in this region. Germany, Italy, France, the UK, and Spain are some of the key European countries that contributed significantly to the use of LED packages in 2016. OSRAM and Lumileds are some of the major manufacturers present in this region. Europe is expected to hold a major share of the LED packaging market for the general lighting application owing to the high standard of living in these countries; with regard to the high GDP per capita rates, a large section of the population can afford energy-efficient lighting systems in their homes. The significant market share in the region is also attributed to the increasing awareness about energy conservation and implementation of various government initiatives toward the same. In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key experts. Following is the breakup of the profile of primary participants: • By Company Type: Tier 1 = 20%, Tier 2 = 39%, and Tier 3 = 41% • By Designation: C-Level Executives = 27%, Directors = 31%, and Others = 42% • By Region: North America = 39%, Europe = 27%, APAC = 18%, and RoW = 16% The major players in the LED packaging market include Nichia (Japan), Samsung (South Korea), Osram (Germany), LG Innotek (South Korea), and Cree (US). Research Coverage: The report estimates the market size and future growth potential of the LED packaging market across different segments such as package type, packaging material, application, and geography. Moreover, the report includes the industry trends, market dynamics, and competitive analysis of the key players in the market, along with their company profiles, and recent developments. Key Benefits of Buying the Report: The report would help the market leaders/new entrants by providing them the closest approximations of the revenue numbers for the LED packaging segments and subsegments. Moreover, this report would help stakeholders to understand the competitor landscape better and gain insights to strengthen their businesses and have suitable go-to-market strategies. Furthermore, this report helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities. Read the full report: https://www.reportlinker.com/p05281356 About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________ Contact Clare: [email protected] US: (646)-751-7922 Intl: +1 646-751-7922 View original content:http://www.prnewswire.com/news-releases/the-led-packaging-market-is-expected-to-reach-usd-2639-billion-by-2023-from-usd-1841-billion-in-2017-at-a-cagr-of-62-300581544.html SOURCE Reportlinker |