American Made Advocacy: Lobbying Congress Supports the Supply Chain
Defense Speak Interpreted: Is There Still a CHIPS Act?
Beyond the Board: Empowering the Next Generation of Tech Innovators in Electronics
Demand Rebounds, Global LED Industry Revenue Expected to Grow 3% in 2024 with Market Focus on Automotive Displays
April 1, 2024 | TrendForceEstimated reading time: 1 minute
TrendForce’s latest LED industry report indicates that the global market is set to recover in 2024, with estimated revenues reaching US$13 billion—marking a YoY growth of 3%. This resurgence is primarily driven by demand across various sectors, including automotive lighting and displays, general/architectural/agricultural lighting, LED video walls, and UV/IR LEDs. Additionally, the successful deployment of Micro LEDs in large displays by Samsung and luxury watches by Tag Heuer has played a significant role in this growth.
TrendForce points out that automotive displays present significant growth potential this year. Thanks to momentum from the NEV market, advanced technologies like ADB headlights, Mini LED taillights, full-width taillights, smart ambient lighting, and Mini LED backlit displays are set to propel the automotive LED market value to $3.4 billion. Furthermore, Micro LED is making inroads into reading lights and control knobs in European OEMs.
Meanwhile, European, American, and Japanese automakers plan to introduce Micro LED transparent displays. With automakers requiring Micro LED HUDs to achieve a transparency rate exceeding 70% and accommodate curved designs, the automotive market is set to embrace transparent Micro LED displays for AR-HUD or window displays by 2026–2027 as the technology matures and becomes more cost-effective.
The Mini LED video wall market is witnessing rapid growth, propelled by leading manufacturers like Samsung, LG Electronics, Leyard, Unilumin, and Absen.
In the UV LED segment, manufacturers continue to roll out high-power sterilization and purification products to meet market demands. The application of UV-C LED in air sterilization by Huawei AITO—with orders spanning 2023 to 2025—is poised to hasten the adoption of automotive air sterilization applications. Compared to traditional UV lamps, UV LEDs offer a longer lifespan and simpler optical design. Companies such as Nichia, Seoul Viosys, and Violumas have launched comprehensive UV-A/B/C LED product lines to satisfy the demand for UV lamp alternatives.
Agricultural lighting is gaining momentum in Central and Eastern Europe, particularly in Czechia and Poland, where the cost reduction of horticultural lighting end products has improved the ROI of plant factory solutions. Furthermore, investments in horticultural lighting for cultivating vegetables and fodder in high-latitude Asian and Nordic regions aim to mitigate the adverse effects of prolonged winters on food suppliers, promising to uplift the horticultural lighting LED market in 2024.
Share on:
Suggested Items
Micro LED Expands Beyond Displays, Unlocking New Opportunities in Transparent and Non-Display Applications
05/30/2025 | TrendForceTrendForce forecasts that the chip market value for Micro LED display applications will reach US$740 million by 2029, with a CAGR of 93% from 2024 to 2029.
Hon Hai Research Institute Partners with Taiwan Academic Research Institute and KAUST to Participate in CLEO 2025
05/30/2025 | FoxconnThe research team of the Semiconductor Division of Hon Hai Research Institute, together with the research teams of National Taiwan University and King Abdullah University of Science and Technology in Saudi Arabia, has successfully made breakthroughs in multi-wavelength μ -LED technology to achieve high-speed visible light communication and optical interconnection between chips.
JBD Sets a New Benchmark for MicroLED Micro-Display Technology
05/29/2025 | PRNewswireAt this pivotal juncture when near-eye display technologies are rapidly advancing toward large-scale deployment, JBD, through sustained technological innovation, has succeeded in reducing the number of defective pixels in its MicroLED micro-displays from ≤100 to ≤3 per panel.
Connect the Dots: Proactive Controlled Impedance
05/29/2025 | Matt Stevenson -- Column: Connect the DotsFrom data centers to smartphones, designers know that the ohms have it. Getting impedance right ensures all-important signal integrity and delivers high-performing boards. Our designers understand the importance of controlled impedance, but not everyone addresses it in their designs. The most common and important controlled impedance types we see include microstrip, stripline, embedded microstrip, and differential pairs.
SMTA Symposium on Counterfeit Parts & Materials Program Finalized
05/21/2025 | SMTAThe SMTA is pleased to announce the technical program for the Symposium on Counterfeit Parts & Materials. Co-organized by SMTA and the Center for Advanced Life Cycle Engineering (CALCE), the event will be held June 24-26, 2025 in Hyattsville, Maryland at the College Park Marriott Conference Center.