According to Taiwan's Photonics Industry and Technology Development Association (PIDA), due to a high-growth market demand worldwide, Taiwan's LED industry revenues are likely to reach $6.8 billion in 2012 from this year's projected $5.2 billion revenues, surging by 32 percent. This is double than last year's first-ever $3.4 billion turnover.

Both government and private sector incentives in many countries to boost the use of LED lighting has driven the high-growth market demand, analyzed by PIDA.

Taiwan ranks second among the world's largest LED industries with total 2010 LED production value of $5.43 billion dollars, nearly 25 percent of the world market.
 
PIDA pointed out that Japan's ECO-Point incentive program to encourage the use of LED bulbs and light tubes, Beijing's LED lighting promotions program under its 12th Five-Year Plan, and Taiwan's own grant of subsidies to LED-using consumers, are comprised of the force to push worldwide market demand.

In addition, Taiwan decades of transformation and upgrading which has earned global recognition for Taiwan's industrial technology as well as for its product innovation also contributes to its LED ranking around the world.

In PIDA’s opinion, the wide use of LED as backlights for cellphones, notebook computers and TV sets, and that the quality of Taiwan's LED products has "shown big improvement" as the technologies of high-power rating LED approach those of big LED manufacturers in industrial countries have influenced Taiwan's fast technological advancements in the LED industry.