According to the report analysis, ‘Global LED Flip Chip Market 2019 by Manufacturers, Regions, Type and Application, Forecast to 2024’ states that in the worldwide LED Flip Chip market there are several entities which presently performing more actively for leading the fastest market growth and registering the handsome value of market share around the globe over the coming years while increasing the productivity of the product, advancing the technologies of production, employing the young workforce, delivering the better consumer satisfaction and studying and analyzing the government regulations includes Lumileds, NiChia, Lextar (AU Optronics), Genesis Photonics, Epistar, San'an Opto, ETI, Lattice Power, HC SemiTek and several others. Nonetheless, few of the prominent merchants are effective growing their investment in such technologies, thereby enlarging their scope of the studied market during the coming years.
Although, the worldwide market for LED Flip Chip is predicted to increase at an efficient CAGR of roughly 12.6% over the next five years, will reach 900 million USD in 2024, from 440 million USD in 2019. However, the Light Emitting Diode (LED) is a solid-state semiconductor device, which can renovate the energy from an electric current into the light. LED chip is a core component of LED, denoting to the PN junction.
The effective growth in the requirement for the wearable devices is influencing the market as the flip chip technology is broadly utilized in the several high-performance application to meet the needs of the electronics industry for the greater density, robust speed, developed performance, and miniaturized packaging, which is the foremost aspect for its utilization in the wearable electronics.
Based on the type, the worldwide market of LED flip chip is divided into different sectors such as 1.4mm and 1.1mm. In addition, on the basis of applications, the global market of LED flip chip is fragmented into several regions such as mobile phones, automobiles, daylight lamps, high power lighting devices and several others.
Whereas, the implementation of the LED flip chip across the automotive segment is slowly obtaining the momentum, due to the effective augment in the interest for the great power LED modules among the automobile producers and developed brightness, among the other applications. The other general factors behind the global LED flip chip growth is the effective increase of the LED niche lighting, in the areas of the fishing lighting, healthcare lighting, marine, harbor lighting and horticulture lighting, in the addition to their capability to be propelled at the greater current, the free of the wire-bonding, and are smaller packages offerings.
Based on the region, the market of LED flip chip is spread across the globe which majorly involves North America, Europe, Asia Pacific, South America and Middle East and Africa. Whereas, due to the effective developments in the technologies in underdeveloped regions the Asia Pacific region predicted to dominates the market. The efforts of North America can’t be ignored as the large players are positively investing for gaining the competitive edge. Therefore, in the near years, it is anticipated that the market of LED flip chip will increase around the globe over the coming years more significantly.
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Ankur Gupta, Head Marketing & Communications