January 18, 2022



LED market to grow 8.1% to $16.53bn in 2021

Due to the impact of the COVID-19 pandemic in 2020, not only did LED revenue experience a downward trajectory but this decline also reached a magnitude rarely seen in recent years, according to market research firm TrendForce. However, as vaccinations begin taking place in first-half 2021, the LED market’s long-stifled demand is expected to rebound from rock bottom. Hence, global LED market revenue (i.e. revenue from packaged LEDs, plus revenue from mini/micro-LED chips directly used in backlighting and other self-emitting products) will likely undergo a corresponding recovery this year as well, growing by 8.1% to a forecasted $16.53bn in 2021. Most of this increase can be attributed to four major categories, including automotive LEDs, mini/micro-LEDs, video wall LEDs, and ultraviolet/infrared (UV/IR) LEDs…