Double-Digit Growth Ahead for Global LED Chip Market
The global LED chip market is growing well with government support and declining ASP per unit of LEDs that will help achieve 12.89% CAGR in terms of revenue and 30.20% CAGR in terms of unit shipment for the LED chips market during 2014 to 2019.
Complete report on LED chip market spread across 78 pages, analyzing 5 key companies as well as supported with 30 data exhibits is now available at http://www.rnrmarketresearch.com/global-led-chip-market-2015-2019-market-report.html .According to this LED chip market report, one key driver of this market is the declining ASP per unit of LEDs. Due to increased R&D by the LED and component manufacturers, along with advancement in the processes, the manufacturing cost of LED per kilo lumen has gradually decreased. Due to this the ASP per unit of LED lighting devices has simultaneously gone done. In the recent past, increasing support of government organizations to lift the LED lighting market has been witnessed. Governments in both emerging and developed economies have been seen issuing regulations to enhance the demand for LED lighting among various industries that will help push the LED chip market growth.