Bi-Color Light-Emitting Diode(LED) Market Trends and Forecast
The future of the global bi-color light-emitting diode(LED) market looks promising with opportunities in the indicator light, display screen, and decorative lighting markets. The global bi-color light-emitting diode(LED) market is expected to grow with a CAGR of 11.0% from 2024 to 2030. The major drivers for this market are rising demand for energy-efficient lighting solutions, increasing adoption in automotive and signage applications, and growing focus on compact and durable lighting solutions.
• Lucintel forecasts that through hole is expected to witness higher growth over the forecast period.
• Within this market, indicator light is expected to witness the highest growth.
• APAC is expected to witness the highest growth over the forecast period.
Country Wise Outlook for the Bi-Color Light-Emitting Diode(LED) Market
• United States: Companies like Cree Inc. and Lumileds announced new bi-color LED product lines targeting energy-efficient lighting solutions, supported by federal initiatives promoting sustainable technologies.
• China: Government-backed initiatives in Shenzhen and Shanghai are driving local companies like MLS Co. to ramp up production of bi-color LEDs, aligning with national targets for energy conservation and emission reduction.
• Germany: Osram GmbH launched bi-color LED modules for automotive applications, in line with EU directives promoting eco-friendly automotive lighting solutions, supported by subsidies under the European Green Deal.
• Japan: Nichia Corporation introduced bi-color LEDs optimized for display applications, supported by government incentives encouraging innovation in semiconductor technologies to boost domestic manufacturing capabilities.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Bi-Color Light-Emitting Diode(LED) Market by Segment
The study includes a forecast for the global bi-color light-emitting diode(LED) market by type, application, and region.
Bi-Color Light-Emitting Diode(LED) Market by Type [Value from 2018 to 2030]:
• Through Hole
• SMD
Bi-Color Light-Emitting Diode(LED) Market by Application [Value from 2018 to 2030]:
• Indicator Light
• Display Screen
• Decorative Lighting
• Others
Bi-Color Light-Emitting Diode(LED) Market by Region [Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Bi-Color Light-Emitting Diode(LED) Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies bi-color light-emitting diode(LED) companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the bi-color light-emitting diode(LED) companies profiled in this report include-
• Vishay
• VCC
• Bivar
• Kingbright
• Lumex
• Dialight
• Rohm Semiconductor
• Harvatek
• QT-Brightek
• Sanken
Recent Development in the Bi-Color Light-Emitting Diode(LED) Market
• Osram Opto Semiconductors: Recently launched a new series of bi-color LEDs for automotive applications, focusing on energy efficiency and durability, with a target to increase market share by 20% next fiscal year.
• Cree, Inc.: Announced a strategic partnership with Samsung Electronics to develop bi-color LEDs with improved brightness and color rendering index (CRI), aimed at expanding their presence in architectural lighting.
• Nichia Corporation: Introduced a groundbreaking bi-color LED technology offering tunable color temperatures for horticultural lighting, aligning with sustainable agricultural practices.
• Seoul Semiconductor: Expanded production capacity for bi-color LEDs to meet rising demand from the consumer electronics sector, particularly for high-definition displays and smart devices.
• Lumileds: Secured a significant contract to supply bi-color LEDs for a large-scale outdoor signage project, demonstrating their expertise in providing customizable lighting solutions for urban environments.
Features of the Global Bi-Color Light-Emitting Diode(LED) Market
Market Size Estimates: Bi-color light-emitting diode(LED) market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Bi-color light-emitting diode(LED) market size by type, application, and region in terms of value ($B).
Regional Analysis: Bi-color light-emitting diode(LED) market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different types, applications, and regions for the bi-color light-emitting diode(LED) market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the bi-color light-emitting diode(LED) market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for bi-color light-emitting diode(LED) market?
Answer: The global bi-color light-emitting diode(LED) market is expected to grow with a CAGR of 11.0% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the bi-color light-emitting diode(LED) market?
Answer: The major drivers for this market are rising demand for energy-efficient lighting solutions, increasing adoption in automotive and signage applications, and growing focus on compact and durable lighting solutions.
Q3. What are the major segments for bi-color light-emitting diode(LED) market?
Answer: The future of the bi-color light-emitting diode(LED) market looks promising with opportunities in the indicator light, display screen, and decorative lighting markets.
Q4. Who are the key bi-color light-emitting diode(LED) market companies?
Answer: Some of the key bi-color light-emitting diode(LED) companies are as follows:
• Vishay
• VCC
• Bivar
• Kingbright
• Lumex
• Dialight
• Rohm Semiconductor
• Harvatek
• QT-Brightek
• Sanken
Q5. Which bi-color light-emitting diode(LED) market segment will be the largest in future?
Answer: Lucintel forecasts that through hole is expected to witness higher growth over the forecast period.
Q6. In bi-color light-emitting diode(LED) market, which region is expected to be the largest in next 5 years?
Answer: APAC is expected to witness the highest growth over the forecast period.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the bi-color light-emitting diode(LED) market by type (through hole and SMD), application (indicator light, display screen, decorative lighting, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Bi-Color Light-Emitting Diode(LED) Market, Bi-Color Light-Emitting Diode(LED) Market Size, Bi-Color Light-Emitting Diode(LED) Market Growth, Bi-Color Light-Emitting Diode(LED) Market Analysis, Bi-Color Light-Emitting Diode(LED) Market Report, Bi-Color Light-Emitting Diode(LED) Market Share, Bi-Color Light-Emitting Diode(LED) Market Trends, Bi-Color Light-Emitting Diode(LED) Market Forecast, Bi-Color Light-Emitting Diode(LED) Market Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.