The LED industry is expected to expand in the market of new application fields this year, prompting LED factories to get rid of the consumer lighting and backlight field of the Red Sea application. Research institute LEDinside expects the industry's three major development trends to be Micro LED, automotive and infrared sensing.
LEDinside estimates that the size of the Micro LED market will reach 2.891 billion US dollars in 2025. The estimated applications include mobile phones, wearable watches, automotive displays, virtual reality, television, etc., but currently Micro LED faces technical bottlenecks, including Lei Crystal and chip, transfer, full color, power drive, backplane and detection and repair technology, manufacturers must achieve breakthrough development in key technologies this year.
Compared with Micro LED, this year is still in the technology development period. The infrared sensing application market will continue to develop business opportunities this year. Recently, biometrics has become the mainstream of security protection, including the introduction of consumer electronic products into iris and face recognition. In addition, security monitoring and infrared touch panels are the main growth drivers for infrared applications, while the latter digital medical, automotive light, and drones are all infrared applications.
Car use is also a market growth area that can be foreseen this year. LEDinside pointed out that due to the increase in high-power LED technology and the fall in LED prices, LED lighting outside the car has gradually shifted from high-end models to mid-range models. The growth of the far and near light market is the most amazing. The market output value of LED in the near-light lamp application will reach 1.462 billion US dollars in 2020, and the composite growth rate (CAGR) in 2016-2020 will reach 15.8%.
In addition, the demand for head-up displays, central control panels, instrument panels, and entertainment panels in vehicle panels has also increased rapidly. Estimating the output value of automotive panel LEDs will also grow from $42 million last year to $087 million in 2020. The five-year CAGR is 25%. Last year, the proportion of new car models equipped with vehicle panels was 13%, and it is estimated that it will reach 18% in 2020, which will simultaneously boost LED backlight demand.
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