According to the report, Technological advancement in various LEDs is one of the primary growth factors for the market. Factors such as high thermal conductivity, high light efficiency, high flexibility, and uniform light output that drive the packaged LED market
is also expected to contribute significantly to the Packaged LED market. Overall, Residential
applications of Packaged LED, and the growing awareness of them, is what makes this segment of the industry important to its overall growth. The Type, such as COB (Chip on Board) LED Package, is boosting the Packaged LED market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.The End-Use Industry, such as Manufacturing, is boosting the Packaged LED market. Additionally, the rising demand from SMEs and various industry verticals, macro-economic growth are the prime factors driving the growth of the market.
AMAs Analyst on the Global Packaged LED market identified that the demand is rising in many different parts of the world as "Increasing adoption in automotive application
". Furthermore, some recent industry insights like "July 21, 2021: Lumileds introduced the EU Ecodesign Tool. This tool provides detailed LED performance data for lighting manufacturers and supports lighting manufacturers." is constantly making the industry dynamic.
The report provides an in-depth analysis and forecast about the industry covering the following key features: o Industry outlook including current and future market trends, drivers, restraints, and emerging technologies o Analyses the Global Packaged LED market according to Type, Application, and regions o Analyzes the top 10 players in terms of market reach, business strategy, and business focus o Provides stakeholders insights and key drivers & trends of the market
Market Size Estimation In market engineering method, both top-down and bottom-up approaches have been used, along with various data triangulation process, to predict and validate the market size of the Packaged LED market and other related sub-markets covered in the study.
o Key & emerging players in the market have been observed through secondary research. o The industrys supply chain and overall market size, in terms of value, have been derived through primary and secondary research processes. o All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.
Data Triangulation The overall market size is calculated using market estimation process, the market was further split into various segments and sub-segments. To complete the overall market engineering and arriving at the exact statistics for all segments and sub-segments, the market breakdown and data triangulation procedures have been utilized, wherever applicable. The data have been triangulated by studying various influencing factors and trends identified from both demand and supply sides of various applications involved in the study. Along with this, the market size has been validated using both top-down and bottom-up approaches.