After wide general usage, LED module manufacturers are looking for new applications with higher margins.
The LED lighting module industry is showing an emergence of new market segments, including automotive, smart lighting, and horticultural markets, according to Yole Développement (Yole). This trend is outlined in its latest report titled, “LED Lighting Module Technology Industry & Market.”
According to Yole’s solid-state lighting team, the LED lighting module market, including flexible LED strips, reached nearly $4 billion in 2016 and is expected to grow to $13.8 billion by 2022.
“LED technology is increasingly penetrating general lighting applications, thanks to how easily integrators can use it,” said Pierrick Boulay, Technology & Market Analyst, Solid-State Lighting at Yole. “The LED lighting module market will, therefore, deliver a 22.6% CAGR between 2017 and 2022.”
This report provides a comprehensive overview of the LED lighting modules, including technologies, markets and applications, main functions, and integration into lighting systems. The company offers analysis of the positioning of each module type, including mid-power, high-power, COB and flexible strip and the main technologies in use. Industry structure, future trends, and market data are also analyzed in the report.
