TrendForce expect the global LED market to reach US$16.53 billion in 2021

The market research organization TrendForce recently released a global LED market survey report. According to the report, due to the global new crown epidemic in 2020, the LED market has experienced a significant decline.

However, the emergence of the new coronavirus vaccine in 2021 will help the LED market to recover. It is estimated that the global LED market revenue will reach 16.35 billion US dollars in 2021, an increase of 8.1% compared to last year. This benefited from the growth in sales of automotive LEDs, Mini/Micro LEDs, outdoor large-screen LED displays and UV/IR (ultraviolet, infrared) LEDs.

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TrendForce expects that the increase in sales of new energy vehicles will help increase the demand for LED lighting, and the industry’s market sales will reach 2.93 billion US dollars, a year-on-year increase of 13.7%.

Mini/Micro LED technology is mainly used for display screens. At present, the latest Apple iPad Pro and Samsung TVs use Mini LED backlight technology. Research institutes predict that the market in this area is expected to reach 380 million U.S. dollars in 2021, a year-on-year increase of 265%.

As for the LED array display, related products can be used in conference rooms, home theaters, and outdoor advertising. This year’s market revenue is expected to reach 1.78 billion U.S. dollars, a year-on-year increase of 12%.

TrendForce Consulting stated that due to the epidemic of the new coronavirus, the market demand for UV LEDs will increase significantly this year, and the power of UV-C UV LEDs will continue to increase.

More than 35 home appliance brands from China, European countries, South Korea and Japan plan to integrate UV-C LEDs into their products. This market capacity is expected to reach US$830 million.