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The Global LED Packaging Market size is expected to reach $26.1 billion by 2023, rising at a market growth of 6.1% CAGR during the forecast period. The growth of the LED packaging market is due to rapid adoption of LEDs in various end-user segments such as automotive, backlighting, and others. The major factors contributing to the growth of the LED packaging market are growing demand for high power grade LED packages for lighting applications, escalating demand for LED packages in the display panel market, rising interest by governments around the world, stringent regulations to adopt energy-efficient LEDs, and growing demand for smart lighting solutions.
Based on Packaging Material, the market report segments the LED Packaging Market Size into Substrates, Ceramic Packages, Lead Frames, Bonding Wire, and Others. Based on Package Type, the market report segments the market into Surface Mount Device, Chip on Board, Chip Scale Package, and Other Package Types. Based on Application, the market report segments the market into General Lighting, Backlighting, Automotive Lighting, and Other Applications. Based on Regions, the Data Center Virtualization market segments the market into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
The LED Packaging Market Analysis report covers the analysis of key stake holders of the Data Center Virtualization Market. Key companies profiled in the report include Samsung Electronics Co., Ltd., Cree Inc., OSRAM Licht AG, Koninklijke Philips N.V. (Lumileds), Nichia Corporation, LG Corporation (LG Innotek), Epistar Corporation,Stanley Electric Co. Ltd., Everlight Electronics, and TT Electronics.