Boston, MA -- (SBWIRE) -- 08/18/2015 -- An LED chip is a core component of the LED lighting system and is used as a base for the LED lighting device. LED chips are responsible for luminous efficacy, color, and brightness. These are highly energy-efficient and produce low carbon emissions compared to traditional technologies such as incandescent and halogen lighting. LED chips are seeing increasing demand, especially in the general lighting segment, which is growing year-on-year.

Technavio's analysts forecast the global LED chip market to grow at a CAGR of 12.89% in terms of revenue and 30.20% in terms of unit shipment over the period 2014-2019.

Commenting on the report, an analyst from Technavio's team said, "One major trend in this market is the production of laparotomy sponges by textile companies. In the recent past, increasing support of government organizations to lift the LED lighting market has been witnessed. Governments in both emerging and developed economies have been seen issuing regulations to enhance the demand for LED lighting among various industries. "

Get More Details on this Report and a Full Table of Contents at Global LED Chip Market 2015-2019

According to the report, one key driver of this market is the Declining ASP per unit of LEDs. Due to increased R&D by the LED and component manufacturers, along with advancement in the processes, the manufacturing cost of LED per kilo lumen has gradually decreased. Due to this the ASP per unit of LED lighting devices has simultaneously gone done.

Further, the report states that one of the major challenges is the emergence of OLED Panels. OLED is a niche and rapidly growing market. OLED panels are large-area lighting panels. The use of organic materials makes OLEDs energy efficient and raises demand for such technology. With better switching time and properties such as flexibility, transparency, and being a color-tunable and environment friendly source of lighting, OLED panels are being adopted fast in the industry.

The key players in the Global LED Chip Market are Cree, Epistar, Nichia, OSRAM Opto Semiconductors, Philips Lumileds Lighting Company while other prominent vendors include Bridgelux, Samsung Electronics, SemiLEDS, Seoul Semiconductors, Toyoda Gosei.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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