LED sales growth predicted due to booming display industry
In 2010 the sales of LEDs utilised in signage and professional screens pulled in $1.5 billion (Â£964 million) and the latest figures, from ElectroniCast Consultants, indicate that 2011 saw this rise to Â£1.05 billion.
Analysts forecast that over the next five years, the market will continue to grow, with 2017 sales revenues expected to top $3.3 billion (Â£2.12 billion).
As is common with this type of market, the growth in sales and consumption will lead to a fall in the average prices, so in real terms, the number of LEDs being sold for use in displays will be considerably higher.
It is significant to note that these figures entirely ignore the consumer side of the market, so only LED displays which are used in a professional capacity, whether they are large scale and on the side of buildings or smaller LED backlit LCD panels, are included.
While in terms of raw sales the standard LEDs are still dominant, taking 95 per cent of the market, the difference in value between these and newer ultra high brightness (UHB) models, means that these lesser sold items are actually accountable for 67 per cent of the money spent.
The analysts do predict that average prices for UHB LEDs will fall between now and 2017, although the decline should be moderate, as demand is not expected to rise so exponentially.
Europe, the Middle East and Africa are accountable for 20 per cent of the market at the moment, with predictions suggesting that growth will keep them at about this point for the foreseeable future.
The real growth is going on in the Americas and the Asia Pacific region, although for the time being, it is relatively difficult to assess just what shape the market will take.