Date: 20/05/2021

LED market updates in 2nd Q 2021 from Trendforce

Trendforce reports global LED market revenue likely undergo a corresponding recovery in year 2021 with a forecasted US$16.53 billion, an 8.1% increase YoY, in 2021. Most of this increase can be attributed to four major categories, including automotive LED, Mini/Micro LED, video wall LED, and UV/IR LED.

Due to high growth of new energy vehicle sales and the accelerated adoption of LED lighting solutions in new models of conventional fossil fuel vehicles this year to result in a persistently rising penetration rate of automotive LED solutions since 2020. Automotive LED revenue for 2021 will likely reach $2.93 billion, a 13.7% increase YoY, making it the fastest growing sector among all LED applications, as per Trendforce.

Mini/Micro LED revenue for 2021 forecasted by Trendforce to reach $380 million with a growth of 265% YoY due to the latest 12.9-inch iPad Pro and Samsung TVs featuring Mini LED backlighting technology, says Trendforce.

Emerging solutions, such as all-in-one LED display for meeting and conference, 5G 8K ultra-high resolution video walls, home theaters, and virtual production to enable video wall LED revenue for 2021 is expected to reach $1.78 billion, a 12% increase YoY and the third-largest growing sector in the LED industry, according to Trendforce.

Due to Covid pandemic the ultraviolet LED market driven by demand for these devices in disinfection and sterilisation equipments. UV-C LED products have also been improving in terms of radiant power (optical power). Notably, home appliance brand manufacturers from China, Europe, Korea, and Japan are all planning to integrate UV-C LED technologies into their products, and over 35 manufacturers are introducing or planning to introduce UV-C LED in their products. All in all, various applications are expected to drive up UV/IR LED revenue to $830 million, a 27% increase YoY, as per Trendforce.