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The Europe LED market is poised to reach a market value of $ 9,882.2 Million by 2022 growing at a CAGR of 10.8% during the forecast period. High brightness LEDs (HB-LEDs) are widely used in automotive, signals and signage's in the North American region. Major mobile companies such as Apple Incorporation have incorporated Organic LEDs (O-LED) in their mobile phones, which would contribute to the growth of the LED market.
The falling price of LED lamps has acted as a pivotal factor for the market growth. CFLs have gained prominence in the lighting world, and the developing nations are also quickly accepting the form of lighting. However, the LEDs would be a very strong competition to the CFL market in the lighting industry. Technological breakthroughs would lead to new backlighting applications, further adding to the market growth of LEDs.
As the adoption of LED's in LCD TVs and PC Notebooks, cellular phones, media devices, cameras, etc. is growing, the demand for them for large screen devices such as LCD TVs and PC notebooks has risen steadily. With declining price of LED backlight units, LED-backlit LCD TVs are gaining prominence. The Europe LED market is segmented into technology, application and geography. The technology segment is further divided into technologies used in manufacturing final products such as Basic LED, High Brightness LED (HB-LED), Organic LED (O-LED) and Polymer LED.
The application segment is divided into automotive, backlighting, general lightning, mobiles, signal and signage. Key Players profiled in the report includes Cree Incorportaion, Samsung Electronics, Nichia Corporation, LG Innotek, Philips, Toyoda-Gosei, Osram Light and Seoul Semiconductors.