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North America LED Packaging Market - Growth, Trends and Forecasts (2020 - 2025)

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LED packaging refers to usage of Light Emitting Diodes in the products under consideration. The industry has seen a phenomenal growth from 2006 till 2015. Currently, the growth rate is marginal and is anticipated to decrease in the coming years. The North America revenue of LED packaging market was XX.XX billion in 2015 and is estimated to reach $ XX.XX billion by 2020, at a CAGR of XX.XX%.

In terms of applications, LED lighting leads the LED packaging market. Also, in the lighting market, the usage of LED is estimated to grow at a rate of 14% compounded annually for the period 2016-2020. But, on the other hand, the innovations in the industry are saturated and at the same time the market has over capacity. For the TV display application, the industry is moving from usage of LED to OLED (Organic Light emitting diode), which is the latest innovation. This is expected to penetrate more into the market. Added to this, the production costs of OLED displays will be decreased by 3 folds since fixed costs (equipment) is less and variable costs is also relatively less as more units can be produced within a given time.

To leverage on costs, the companies are focusing on operating through economies of scale. As such the industry is witnessing consolidation of players / manufacturers of LED packaging. But, on the other hand, some of the SME which are not able to merge are exiting from the market.  

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