The latest quarterly IMS Research report on the supply and demand of GaN LEDs shows that GaN LED package revenue in 2011 decreased by 6% from last year, mainly due to the following reasons:
• From 2010 to 2011, the growth rate of the supply side was almost three times that of the demand side, resulting in huge price pressures and lower levels of capacity utilization at various LED factories. The quantitative data in the report shows that the LED surplus will further increase in 2012.
• As panel shipments and LED penetration were all lower than expected, the average price of LEDs used for backlighting fell by 34%, and backlighting revenue dropped by 13% to $4.8 billion.
• LED revenue for TVs fell by 5% to US$1.9 billion in 2011, and the penetration rate was 39% lower than the original expectation of 43%.
IMS Research expects that the GaN LED market will gradually pick up from 2012 to 2015, and due to the accelerated development of the lighting market, there will be double-digit growth in 2013 and 2014. Highlights include:
• The market is expected to grow by 5% in 2012, but it is still below the 2010 level. Backlight growth is slow, and lighting will increase by 30%.
• It is expected that LED's revenue in lighting applications will exceed backlight applications in 2012, one year ahead of the original estimate. The main reason is that the demand for LED lighting increases, and the penetration rate of LED TVs decreases, and in order to exploit the developing market, TV manufacturers have introduced low-cost direct-entry LED backlight products.
• Due to reduced brightness, low-cost direct-down LED backlights use approximately half of the LED chips of conventional metering-type backlights. The cost difference between TV and CCFL TVs using this new type of backlight technology has been reduced.
• In the GaN LED market, the share of lighting is expected to increase from 21% in 2011 to 49% in 2016; lighting LED revenue is expected to grow by more than 300%.
• From 2010 to 2011, the growth rate of the supply side was almost three times that of the demand side, resulting in huge price pressures and lower levels of capacity utilization at various LED factories. The quantitative data in the report shows that the LED surplus will further increase in 2012.
• As panel shipments and LED penetration were all lower than expected, the average price of LEDs used for backlighting fell by 34%, and backlighting revenue dropped by 13% to $4.8 billion.
• LED revenue for TVs fell by 5% to US$1.9 billion in 2011, and the penetration rate was 39% lower than the original expectation of 43%.
IMS Research expects that the GaN LED market will gradually pick up from 2012 to 2015, and due to the accelerated development of the lighting market, there will be double-digit growth in 2013 and 2014. Highlights include:
• The market is expected to grow by 5% in 2012, but it is still below the 2010 level. Backlight growth is slow, and lighting will increase by 30%.
• It is expected that LED's revenue in lighting applications will exceed backlight applications in 2012, one year ahead of the original estimate. The main reason is that the demand for LED lighting increases, and the penetration rate of LED TVs decreases, and in order to exploit the developing market, TV manufacturers have introduced low-cost direct-entry LED backlight products.
• Due to reduced brightness, low-cost direct-down LED backlights use approximately half of the LED chips of conventional metering-type backlights. The cost difference between TV and CCFL TVs using this new type of backlight technology has been reduced.
• In the GaN LED market, the share of lighting is expected to increase from 21% in 2011 to 49% in 2016; lighting LED revenue is expected to grow by more than 300%.
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