Demand Rebounds, Global LED Industry Revenue Expected to Grow 3% in 2024 with Market Focus on Automotive Displays, Says TrendForce

Apr. 1, 2024 ---- TrendForce’s latest LED industry report indicates that the global market is set to recover in 2024, with estimated revenues reaching US$13 billion—marking a YoY growth of 3%. This resurgence is primarily driven by demand across various sectors, including automotive lighting and displays, general/architectural/agricultural lighting, LED video walls, and UV/IR LEDs. Additionally, the successful deployment of Micro LEDs in large displays by Samsung and luxury watches by Tag Heuer has played a significant role in this growth. TrendF...
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TrendForce 2024 Deep UV LED Market Trend and Product Analysis- Technological Innovations to Drive Expanded Applications

According to TrendForce’s report “2024 Deep UV LED Market Trend and Product Analysis", the UV LED market value is expected to reach USD 309 million in 2028, thanks to application expansion to fields such as curing, medical, disinfection/purification, photocatalytic air purification, and tanning/horticultural lighting/food preservation. Seoul Viosys continued to generate the highest UV LED revenue between 2019 and 2023 in consecutive, securing its top position. Furthermore, ams OSRAM saw an increase in revenue from UV-C LED business ...
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TrendForce: LED Market Value to Grow to USD 13.003 Billion in 2024

According to TrendForce’s latest report “Gold+ Member: Global LED Market Demand and Supply Database and LED Industry Quarterly Update”, the market value of LEDs shrunk to USD 12.608 billion in 2023 due to multiple negative factors such as sluggish end-market demand, slow inventory depletion for LEDs, and fierce price wars. Entering 2024, the market demand for automotive lighting and displays, lighting (i.e., general, architectural, and agricultural lighting), LED video walls, UV/IR LEDs are likely to recover gradually. Additionally...
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Global LED Lighting Industry Set to Benefit from an Estimated 5.8 Billion Units of Secondary Replacement Demand for LED Lamps and Luminaires in 2024, Says TrendForce

Mar. 4, 2024 ---- TrendForce’s latest reports indicate a significant turning point for the LED lighting market in 2024, as an estimated quantity of 5.8 billion LED lamps and luminaires reach the end of their lifespan. This milestone is set to trigger a substantial wave of secondary replacements, breathing new life into the market and boosting total LED lighting demand to an impressive 13.4 billion units. Currently, LED lamps and luminaries account for about 70% of all lighting solutions in use worldwide, narrowing the scope for replacing traditional fixtures with L...
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TrendForce: Global LED Lighting Market Value Likely to Increase 4% To USD 60.9 Billion in 2024

According to TrendForce’s latest market research report "TrendForce 2024 Global LED Lighting Market Analysis-1H24", the lighting market demand in 2023 did not experience the expected rebound due to numerous factors. TrendForce once again revised down the LED lighting market value for 2023 to USD 58.5 billion (-5% YoY). In 2024, about 5.788 billion LED lamps and luminaires will reach their service life limits and be phased out, leading to a considerable demand for second-time replacements. This is expected to reverse the declining trend in the LED...
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Benefited from Enhancing Bio-Sensing Technology, the Market in Wearable Device Applications to Reach US$422 Million, Says TrendForce

Jan. 22, 2024 ---- In a pivotal ruling, the U.S. Court of Appeals for the Federal Circuit has decided against Apple in its patent dispute with Masimo, mandating a halt in sales of the Series 9 and Ultra 2 in the US due to their blood oxygen features. This decision pushes Apple to potentially remove these features via software updates temporarily. Despite this setback, TrendForce maintains a positive outlook on bio-sensing tech in the wearables market. Substantial growth is predicted, with the market value for bio-sensing in smartwatches and smart bands expected to reach U...
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Market Value of Consumer Electronics 3D Sensing VCSEL Forecast to Soar to US$1.404 Billion by 2028, Says TrendForce

Jan. 10, 2024 ---- TrendForce’s latest report, “TrendForce 2024 Infrared Sensing Application Market and Branding Strategies” reveals a market decline for consumer electronics 3D sensing VCSEL in 2023 to US$847 million. This downturn has been attributed to a weak consumer market and pricing pressure. Major brands incorporating 3D sensing in their 2023 consumer electronics include Apple (smartphones and tablets), Honor (smartphones), Meta Quest 3, and Magic Leap 2. The iPhone 15 Pro, featuring Sony’s stacked technology, integrates VC...
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TrendForce 2024 Infrared Sensing Application Market and Branding Strategies- Envision the Future

TrendForce 2024 Infrared Sensing Application Market and Branding Strategies focuses on four fast-growing application segments, namely the 1) Consumer Electronics, 2) Smart Cabin / ADAS (DMS / OMS), 3) Autonomous Driving, and 4) Industrial / Logistics / Home Appliance Automation. Additionally, TrendForce will explore business opportunities and analyze technical specifications associated with SWIR light sources (LED / VCSEL / EEL) and SWIR CMOS image sensors / photodetectors as their technologies become increasingly mature. According...
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TrendForce 2023 Micro LED Market Trend and Technology Cost Analysis-2H23 Gives Comprehensive Updates on the Micro LED Industry in 2H23

Market Scale Analysis The year 2023 marks the commercialization of Micro LED as a display technology. For example, Samsung announced large-sized Micro LED displays. Although less than a hundred of such displays have been shipped throughout the year, the shipment of Micro LED displays is likely to jump by 10 times in 2024 with an expected increase in the yield rate of relevant components. Despite its mass production being postponed to 2026, the high-profile Micro LED Apple Watch has prompted the entry of 8-inch production lines into the Micro LED manufacturing p...
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Rebound in Mini LED Product Shipments to 13.79 Million Units in 2024, Continued Growth Expected Until 2027, Says TrendForce

TrendForce's "2024 New Mini LED BLU Display Trend Analysis" report reveals that due to declining demand in consumer electronics, shipments of Mini LED products are expected to decrease to 13.337 million units in 2023. However, the market is projected to rebound in 2024, with shipments estimated at 13.792 million units, and the growth trend is expected to continue through 2027. This decline is part of a larger trend of decreasing prices for Mini LED products, setting the stage for sustained growth in shipments. The report predicts that by 2027, shipments ...
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New Arrival! TrendForce 2024 Global LED Video Wall Market Outlook and Price Cost Analysis- To Infinity and Beyond

The LED video wall market in China has recovered slower than expected in 2023 following the country’s reopening. Compared to the low point in 2022, however, the end-market demand shows an upward trend overall, particularly the demand in the Corporation & Education, Broadcast, and Retail & Exhibition sectors. North America is booming, with demand in the outdoor display, retail & exhibition, and virtual production sectors being major contributors for the growth momentum. Hit by the Russia–Ukraine war and soaring inflation, demand in Europe is returning ...
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Japanese Watchmakers and Western Automakers Boost Micro LED Market to Near US$600 Million by 2027, Says TrendForce

Aug. 10, 2023 ---- Mass production of large displays and wearable devices is propelling the Micro LED market. TrendForce predicts that the market value of Micro LED chips will reach $27 million in 2023, indicating a YoY growth of 92%. With the scaling of existing application shipments and the introduction of new applications, it’s projected that the market value of Micro LED chips will approach $580 million in 2027, representing a CAGR of approximately 136% from 2022 to 2027. Alongside the consistent growth in chip values, ancillary industries—such as tran...
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【New Arrival】2023 Global Automotive LED Product Trend and Regional Market Analysis- Usher in Golden Era of Innovation

According to TrendForce’s analysis of car market demand in 2023, the global economy remains weak although inflation is slowing down in Europe and North America. Car manufacturers have been cutting vehicle prices to stimulate sales, but the act has caused fierce price competition. Due to fierce competition in the vehicle market, prices of automotive LEDs have dropped noticeably, consequently delaying several projects for LED product development. That being said, advanced technologies related to ADB headlights, Mini LED taillights, full-width taillights, logo lamps,...
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TrendForce’s Outlook on 2023 Mini/Micro LED Technologies

To date, Mini/Micro LED hasn’t went into mass production, which is not as planned but in line with expectation. Anyhow, what matters is that the path to success has become much clearer even though arriving the destination of full-scale production still takes a period of time. In 2022, amid macroeconomic headwinds, Mini/Micro LED faced complicated challenges while embraced more opportunities. To some extent, the industry found silver linings in addressing problems at both supply and demand sides, including technical hurdles, cost issue, terminal applications and demands pr...
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LED Chip Prices See 3–5% Surge, Predicted to Boost Annual LED Chip Market Value to US$2.9 Billion, Says TrendForce

Jun. 1, 2023 ---- TrendForce has reported a significant decline in global LED demand throughout 2022, resulting in a noticeable downturn in both LED lighting and video wall markets. The industry was faced with an LED chip surplus, which led to a continuous drop in prices throughout the year. The combined impact of volume and price reduction resulted in a sharp 23% annual decrease in the market value of global LED chips in 2022, shrinking to just US$2.78 billion. Despite this challenging landscape, it is predicted that the LED industry will recover in 2023, primarily...
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【New Arrival】Micro LED Report- The Rise of Micro LED Smartwatches: Wearable Chip Revenue to Hit USD 463 Million in 2025

As TrendForce specifies in its latest report “TrendForce 2023 Micro LED Market Trend and Technology Cost Analysis”, although revenue from Micro LED chips installed in wearables (mainly smartwatches) are estimated to be only USD 3 million in 2023, the number will skyrocket to USD 172 million and USD 463 million in 2024 and 2025, respectively, as Apple starts to adopt Micro LED displays for its new watches. The new Apple Watch will likely prompt other brands to develop and promote Micro LED wearables. Micro LED chip market value from weara...
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2023 Deep UV LED Market Trend and Product Analysis- Ready for a Comeback

According to TrendForce’s 2023 Deep UV LED Market Trend and Product Analysis, the pandemic woes in China affected both supply chains and new project investments across the UV-A LED sector in 2022, where the market demand for PCB exposure machines and LCD lamination equipment—related to consumer electronics—dropped dramatically. In the UV-C LED sector, most home appliance manufacturers delayed product development plans due to weak consumer spending, indicating their lower willingness to introduce UV-C LED products. Further, UV LED...
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TrendForce: LED Market Value Likely to Hit USD 21.013 Billion in 2027

According to TrendForce’s latest report “Gold+ Member: Global LED Industry Data Base and LED Player Movement Quarterly Update”, soaring raw material costs and high inflation caused by the Russia–Ukraine war and pandemic woes in China have slashed consumer market demand and increased end product inventories. Therefore, TrendForce analyzes that the LED market value shrunk to USD 14.214 billion in 2022 (-19% YoY). Except for the 40% growth rate of the Mini LED backlight market, general lighting, architectural lighting, agricultural l...
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TrendForce: Global Lighting LED Market Value Likely to Increase 4% To USD 6.38 Billion in 2023

  Chapter 1. Global Lighting Market Trend •       TrendForce LED Lighting Market Scale- Methodology •       TrendForce LED Lighting Market- Product Definition •       TrendForce LED Lighting Market Product Definition- Lamps •       TrendForce LED Lighting Market Product Definition- Luminaires •       Connected Lighting to Create Second Growth Curve for ...
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ams OSRAM Stands to Benefit from Apple Adopting Micro LED for Its Products, Says TrendForce

According to TrendForce, Apple is expected to adopt Micro LED for its consumer electronic products in the close future. The Apple Watch will likely be the first among Apple’s products to feature a Micro LED display, and the adoption is anticipated to occur in 2024. Then, during the period from 2026 to 2030, the application scope of Micro LED could expand to encompass AR headset displays, smartphone displays, automotive displays, etc. The Apple Watch as a product line was launched in 2015 and has been in the market for more than eight years. The Apple Wat...
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Shipments of Monitor Panels Are Projected to Show YoY Decline of 8.8% for 2022 and Diminished YoY Growth of 5.8% for 2023 Due to Turbulences in Global Economy and Politics, Says TrendForce

Shipments of monitor panels have fallen over the quarters this year due to various factors that have caused disruptions across the global economy and politics. TrendForce projects that shipments of monitor panels will total just around 158 million pieces for 2022, showing a YoY decline of 8.8%. According to TrendForce’s research on the market for display panels, monitor panels experienced a large downward shipment correction later than did TV and NB panels. For TV panels, the correction phase began in 3Q21. Turning to NB panels, a steep decline in shipments occurr...
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TrendForce 2023 Infrared Sensing Application Market and Branding Strategies- Sensing is the Future

TrendForce 2023 Infrared Sensing Application Market and Branding Strategies focuses on four sectors with strong growth momentum, namely the consumer electronics, smart cockpit (DMS / OMS), advanced driver assistance system (ADAS) / autonomous driving, and industrial / logistics automation. As SWIR LED / VCSEL / EEL become increasingly mature, TrendForce has also explored its business opportunities, techniques, as well as product specifications and prices.     According to TrendForce 2023 Infrared Sensing Application Mar...
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Estimated Shipments of iPhone 14 Devices in 2022 Have Been Lowered to 78.1 Million Units Due to Impact of COVID-19 Lockdown on Foxconn’s Base in Zhengzhou, Says TrendForce

The operation of Foxconn’s major manufacturing base in the Chinese city of Zhengzhou has been affected by a local COVID-19 outbreak since this October. As a result, the capacity utilization rate of the base has yet to risen above the level of 70%. The outbreak in Zhengzhou was at its worst just as Apple was trying to ramp up sales of the new iPhone models for this year (i.e., the iPhone 14 series) to a peak. Furthermore, the new Pro models have been in high demand, so Apple has kept raising their share in the overall iPhone production. Hence, Foxconn as the sole a...
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NB Panel Shipments in October Dropped to a Decade Low for That Month and Will Remain in a Slump in 4Q22, but Growth Will Return in 1Q23, Says TrendForce

Nov. 28, 2022 ---- TrendForce’s latest research finds that shipments of display panels used in notebook computers (NB panels) came to 13.5 million pieces (pcs) in this October, showing a MoM drop of 16.1% and a YoY drop of 45.0%. Based on TrendForce’s tracking of NB panel shipments, this figure is a 10-year low for the month of October. Moving into 4Q22, TrendForce expects NB panel shipments to remain in a slump because of uncertainties in the global economy and inventory adjustments that are taking place across the entire supply chain. Fourth-quarter shipm...
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Ennostar and PlayNitride Join Forces to Develop Micro LED, and Value of Market for Display-Related Micro LED Chips Will Reach Around US$542 Million in 2024, Says TrendForce

Nov. 11, 2022 ---- Ennostar’s subsidiary Epistar and PlayNitride’s wholly-owned subsidiary PlayNitride Display have announced that they have teamed up to build a production line for 6-inch Micro LED epi-wafers. Looking at the latest progress in the development of Micro LED, large-sized displays are regarded as the forerunners to the more advanced end products. Even though Micro LED has unresolved technological bottlenecks and cost-related issues, TrendForce is optimistic that this technology will eventually be adopted for the development of different kinds...
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BOE Becomes Largest Shareholder in HC Semitek with Capital Investment of Around RMB 2.1 Billion, and Both Parties Will Jointly Develop Micro/Mini LED Businesses, Says TrendForce

Nov. 8, 2022 ---- BOE has become the largest shareholder in HC Semitek following a RMB 2.1 billion capital investment deal, and they are now in a partnership with respect to the development of Micro/Mini LED businesses. BOE has been involved in Micro/Mini LED since 2017 and now possesses related offerings such as displays and backlight solutions. In 2020, BOE established BOE MLED Technology as a subsidiary dedicated to the R&D and manufacturing of Micro/Mini LED products. As for HC Semitek, it is a major Chinese LED chip supplier and has ...
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iPhone 14 Pro Sales Favorable Yet Cannot Vanquish Rising Inflation, Apple Cuts 1Q23 Production to 52 Million Units, Says TrendForce

Looking at Apple's 2022 sales, the company began adjusting the proportion of new products after the initial wave of pre-orders. The market response after the release of the iPhone 14 Plus was lukewarm, escalating Apple's product adjustment process. The iPhone 14 Pro series boasts improved specifications yet unit prices are the same as last year's models, making pre-orders for the Pro series highly popular. In the past, the Pro series was the first choice for the earliest wave of users. In addition, the delayed launch of the 14 Plus this year has led to more concentr...
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Virtual Production LED Video Wall Market Estimated to Reach US$431 Million in 2022, with Mainstream Applications in Entertainment and Audio-visual Industries, Says TrendForce

According to TrendForce's latest "2023 Global LED Video Wall Market Outlook and Price–Cost Analysis" report, the global LED video wall market for virtual production applications in 2021 was worth approximately US$283 million, an annual increase of 136%. Despite being affected by inflation and the global economic downturn, the value of the virtual production LED video wall market is estimated to grow steadily to US$431 million in 2022, or 52% YoY, thanks to the adoption of virtual production technology by more studios.   According ...
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TrendForce Announces 10 Tech Industry Trends for 2023

In this press release, TrendForce details 10 major trends that are expected to take place across various segments in the tech industry, as follows: Advanced Foundry Processes Reach Transistor Structure Transition Period, Mature Processes Focus on Diversified Specialized Development Pure foundry processes transitioned from Planar Transistor to the FinFET generation starting from the 16nm node. After the development of the 7nm process and the introduction of EUV lithography technology, FinFET structure encountered physical limits at the 3nm node. Since th...
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As Operating Pressures Rise, Panel Manufacturers Enact Strict Production Controls to Balance Supply/Demand, 4Q22 Utilization Rate Forecast to Drop to 60%, Says TrendForce

TrendForce indicates, overall utilization rate of LCD large generational fabs of Gen.5 and above (in terms of wafer starts) slipping to 60% in 4Q22 cannot be ruled out, which would be the lowest level in the past ten years. Sluggish panel demand and the fact that most panel makers have officially turned from profit to loss in 2Q22 are the key factors forcing panel makers to take a more rigorous approach to production control in 2H22. TrendForce states that the timing of purchasing volume adjustment on the part of IT brands lags relatively and its effect of shrinking orders q...
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