LED FlashLight Market Outlook 2020-2025 | Industry Opportunity & Growth Analysis
According to the latest report by IMARC Group titled, “LED FlashLight Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the market grew at a CAGR of around 9% for the period spanning 2014-2019.
A flash LED is a light-emitting component that illuminates different objects for capturing low-light images and videos. It provides improved mechanical stability, smaller dimensions, red-green-blue (RGB)-LED adjustable color temperature adaptable spectrum, and longer life and flash duration as compared to flash tubes. Owing to these advantages, it is nowadays commonly embedded in portable electronic devices, such as smartphones and digital cameras.
The increasing integration of flash LEDs in smart devices can be attributed to the high optical computability, excellent pulsing capacity and efficient module transfer for higher light output. This represents one of the key factors driving the market growth. Furthermore, the leading vendors operating in the industry are focusing on the introduction of innovative product variants, such as programmable and dual flash LED, which is further driving the market growth. Apart from this, the flash LED is finding applications as artificial light in the microalgal cultivation, which is projected to propel the market growth in the upcoming years.
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Insights on Market Segmentation:
Breakup by Power Consumption:
- Less than 1 A
- More than or Equal to 1 A
- Feature phone
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined with some of the key players being Cree Inc., Epistar Corporation, Everlight Electronics Co. Ltd., Shenzhen Jufei Optoelectronics Co. Ltd., Lumileds Holding B.V., LG Innotek, Osram Gmbh., Samsung, Semileds Corporation and Seoul Semiconductors Co. Ltd., etc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.