LEDinside: Market for high-brightness LED products to grow just 2% this year as the industry prepares for consolidation next year Hot
This year has been very difficult for companies in the LED industry. While LED lighting products are seeing rising demands and have replaced numerous traditional products in different applications, their average selling prices have gone down by 30~40% due to oversupply. According to LEDinside, the value of the market for high-brightness LED products is projected to grow 2% year on year to US$14.52 billion in 2015.
Duff Lu, LEDinside research manager, notes that the industry will undergo consolidation next year with companies merging or being driven out of business. With uncompetitive players leaving, the industry will gradually reorganize itself.