Recent research from GBI Research has shown that the continuing popularity of tablets and similar mobile devices will be a key factor in the growth of the global light-emitting diode (LED) market.
The company’s latest findings state that the mobile devices segment of the global LED market is expected to account for 39 billion unit sales by the end of 2012, but will almost double to 75 billion by 2016, climbing at a compound annual growth rate (CAGR) of 14%.
The mobile devices portion contributed $4.7 billion to the total LED market in 2011 a share of 27% and the insatiable demand for tablets such as Apple’s iPad 3 and Google’s new Nexus is expected to be a major market catalyst.
LEDs are employed to reduce the power required to backlight tablet displays, which are typically the most battery-sapping components. Other tablet requirements, such as consistent brightness and lack of flicker during dimming, are also met by LED technology. As a result, the expected escalation in tablet shipments across the globe will lead to an increase in the demand for highly efficient LEDs.
According to GBI Research, the tablet market had a global sales volume of 73 million units in 2011, but this value is expected to explode in the near future, reaching 350 million units in 2016.
GBI Research’s report also explores the rising need for LEDs in horticultural applications, claiming the area has huge potential to enlarge the overall LED market value. The small size of LEDs, combined with their high efficiency and long lifespan, could see them play a big role in expanding plant cultivation and production.