The market for packaged high-brightness LEDs is set to grow by 12% in 2008, according to a market update presented by Bob Steele at the Strategies in Light 2008 conference in Santa Clara, California (see page 26 for our full conference report).
Steele said that the market grew by 9.5% in 2007 to reach $4.6 billion, somewhat higher than the 6% growth seen in 2005 and 2006. In the next five years, further acceleration in growth is expected as applications outside the mobile phone market come to the fore, principally LED backlighting for LCDs, and of course solid-state illumination. Overall, Steele predicted a compound annual growth rate (CAGR) of 20% in the next five years, with a total market of $11.4 billion in 2012.
This article was published in the April 2008 issue of LEDs Magazine.
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