About Packaged GaN LED
A packaged GaN LED comprises an encapsulation made of bonding wires, an optical lens, electrodes, and resist. GaN LEDs can emit blue, green, and pure green light. They were invented by Nichia in Japan in 1993 and made available in the market in late 1990s. They are widely used for general lighting in residential complexes, offices, retail stores, hospitals, and industries. Compared to other types of LED, packaged GaN LEDs have some unique advantages, such as higher luminosity and power efficiency. However, they are costlier than standard LEDs.
Technavio’s analysts forecast the global packaged GaN LED market to grow at a CAGR of 5.02% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global packaged GaN LED market for the period 2016-2020. To calculate the market size, the report considers the revenue generated from the sales of packaged LEDs to end-users.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Packaged GaN LED Market 2016-2020
Technavio recognizes the following companies as the key players in the Global Packaged GaN LED Market: Cree, Epistar, OSRAM Opto Semiconductors and Samsung.
Other Prominent Vendors in the market are: De Core Nanosemiconductors, LG Innotek, Nichia, Philips Lumileds, Seoul Semiconductor and Soraa.
Commenting on the report, an analyst from Technavio’s team said: “The global packaged GaN LED market is predicted to grow due to trends such as rising demand for low-cost, power-efficient LEDs in the automotive sector for headlights, indicator lights, and dashboard lighting. Vendors are entering into strategic collaborations to capture larger shares of the market. These collaborations allow them to obtain better technologies, enhance their customer base, and meet the growing demand in the coming years.”
According to the report, LEDs are efficient in terms of lighting and power consumption. They limit power consumption more effectively and are more durable than conventional incandescent bulbs. This is expected to drive the market for GaN-based LEDs during the forecast period.
Further, the report states that one of the major challenges faced by the market is the presence of technical hurdles in manufacturing of LEDs using GaN.
Cree, Epistar, OSRAM Opto Semiconductors, Samsung, De Core Nanosemiconductors, LG Innotek, Nichia, Philips Lumileds, Seoul Semiconductor, Soraa.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook