Automotive sector is expected to boost the overall LED industry’s market value by 14% in 2017
By: Matthew Lubin, Taiwan News, Staff Writer
TAIPEI (Taiwan News) — Taiwanese LED manufacturers are set to benefit from the
global automotive industry’s demand for LED lighting, according to a report by LEDinside, Trendforce’s LED industry data and analysis publication.
The company’s report states that the automotive LED industry will benefit from stable prices and rapid growth, which will boost the market’s value by over 14 percent to US$2.817 billion (NT$86 billion) this year. The sector will outpace the overall LED industry, which will record a compound annual growth rate (CAGR) of only 3 percent in 2016-2021, as the LED uses in panel backlights will be replaced by OLED.
The niche automotive lighting subsector will help related manufacturers grow as the LED home lighting industry has slowed due to market saturation and competition.