The LED market is expected to decline by 3.7% this year, but the fundamental drivers for LED adoption have not weakened, says BOB STEELE of STRATEGIES UNLIMITED.
The worldwide economic recession has had a negative impact on many industries, including high-brightness LEDs. Although market growth for 2008 was positive (+11%) despite a shaky fourth quarter, a decline of 3.7% is expected for this year, resulting in a market size of $4.9 billion.
However, this decline will not affect all LED market segments equally. For example, although some of the more mature markets such as automotive lighting and mobile phones are experiencing substantial downturns, other emerging segments, such as backlights for LCD displays in notebook computers and TVs, are showing strong growth. Moreover, the LED lighting market is also continuing to grow, although at a somewhat slower pace than in recent years.
