Global Light Emitting Diode (LED) Phosphor Market 2017-2021
About LED Phosphor
Increased use of LED lights owing to their multiple benefits drives the LED market. LED lights are preferred over incandescent and compact fluorescent lamps (CFLs) as they provide improved efficiency. LEDs consume less than 75% of energy when compared to other bulbs. They exhibit longer life span, which is more than 50,000 hours in comparison to 1,500 hours of incandescent bulbs and 8,000 hours of CFLs. LEDs are also known as green lighting signals, as they have energy-efficient features. Countries such as China, India, and Japan have started multiple promotional campaigns to make LEDs available at subsidized rates to the domestic markets. The governments of these countries are also providing lands at a lower price to the foreign investors to set up LED factories.
Technavio’s analysts forecast the global LED phosphor market to grow at a CAGR of 19.73% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global LED phosphor market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global LED Phosphor Market 2017-2021
Technavio recognizes the following companies as the key players in the global LED phosphor market: GE Lighting, Lumileds, OSRAM, Cree, Seoul Semiconductor, and Nichia.
Other Prominent Vendors in the market are: Broadcom, Bridgelux, CITIZEN ELECTRONICS, Dialight, Epistar, EVERLIGHT ELECTRONICS, Edison Opto, Intematix, NationStar, Stanley Electric, and Toshiba Lighting and Technology.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is growing usage of smart lighting systems. Smart lighting systems are increasingly used for the well-being of the environment. The shift from using conventional lighting to smart lighting increases the focus on energy consumption. The lighting industry is fueled by the rapid improvisation and development in the semiconductor technology and LED lighting systems, as the demand for energy-efficient and sustainable solutions is ever-increasing.”
According to the report, one driver in market is strong government initiatives to promote use of LEDs. The LED market is one of the fastest growing markets across the world. Governments across the globe are promoting the use of LEDs by taking strong initiatives and providing subsidies for the manufacturers of LEDs. Use of various lighting systems in applications such as street lighting, industrial, and commercial applications are promoting the use of LED lights. Lighting companies are offering professional lighting solutions to the developed markets such as the US and Europe. China is one of the largest LED industries in the world, as the Chinese government provides tax benefits and subsidies to the manufacturers. It also provides low cost lands for the establishment of LED manufacturing facilities.
Further, the report states that one challenges in market is drawbacks using YAG phosphor in LEDs. YAG phosphor LEDs, despite exhibiting improved performance, have low chemical stability. At around 200°C, the YAG phosphor suffers from temperature quenching. Also, the material's low chemical stability puts a limit on the lifetime of LED. Some customers also complain that white LEDs produce a harsh light with little warmth when compared to incandescent lights. This is mainly because the YAG phosphor produces bluish white light with little red content. The lack of red wavelengths also leads to poor CRI, which measures the capability of an illumination source to reproduce the object's color against sunlight. Improving white efficiency is crucial as waste heat raises the temperature and degrades the efficiency of the LEDs and phosphor.
GE Lighting, Lumileds, OSRAM, Cree, Seoul Semiconductor, Nichia, Broadcom, Bridgelux, CITIZEN ELECTRONICS, Dialight, Epistar, EVERLIGHT ELECTRONICS, Edison Opto, Intematix, NationStar, Stanley Electric, and Toshiba Lighting and Technology.
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