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Global LED Market Report Predicts Remarkable Growth for the High Brightness LED Products by 2022

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Chicago, IL -- (SBWIRE) -- 09/20/2016 -- According to the report, "Global LED Market (2014 - 2022) By Technology (Basic LED, High brightness LED, Organic LED, Ultraviolet LED, Polymer LED), Applications (Automotive, General Lighting, Backlighting, Mobile Device, Signals and Signage, Others), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, Latin America)", the LED market is expecting impressive growth in revenue by 2022.

The global LED market report provides in-depth information about the key players, major drivers and restraints, market share, geographic regions, and growth opportunities in this market during the forecast period of 2014 to 2022.

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Cost effectiveness and rising demand to drive the market:

According to the global LED market report, the key players in this market are set to witness impressive growth over the next three to four years. By the end of the year 2022, the global market is expected to gain major traction across the emerging geographic regions, thanks to the steady rise in demand. The report highlights various driving factors for this market, which mainly include rapidly decreasing costs of the LED products, longevity, and trending energy efficient lifestyle. Growth in the large screen backlighting and display market is also expected to play a significant role in the overall growth of this industry. Eco-friendly usage and growth in the demand for energy conserving products are also expected to create business opportunities for this market.

The report segments the global market based on the types of technologies and their applications. It also offers in-depth analysis of the major geographic regions of the market, which emphasizes on the global LED market share distribution. According to the report, Europe is expected to dominate the global market with the largest share. The strong production and distribution model is expected to be the primary reason for the dominance of Europe over the market, during the forecast period. Asia-Pacific is expected to become the fastest-growing region with increasing demand for this technology. Government initiatives about energy conservation are also expected to create major growth opportunities for this market across the emerging markets.

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According to report, the high brightness LED products are expected to dominate the application segment. Better brightness and energy efficiency are expected to be the key drivers for this application segment. The global LED market report also analyzes the prominent players in this market, which include American Bright Optoelectronics Corporation, Cree Corporation, GE Lighting Solutions, International Light Technologies, Ledtronics, OSRAM Licht AG, Philips Lumeleds Lighting Company, Samsung Electronics Co. Ltd., Toyoda Gosei Co. Ltd., and such others.

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