LED marketing research in 2023

Why LED market decline in 2022?

     The decline in the domestic LED market in 2022 was mainly caused by the impact of the COVID-19 pandemic, which led to a slowdown in economic growth and a decrease in consumer demand. In addition, the industry faced challenges such as overcapacity, fierce competition, and rising costs.

How to expect LED market in 2023?
      With the gradual control of the pandemic and the implementation of supportive policies, the LED industry is expected to gradually recover and achieve growth. The increasing demand for new applications and technologies, as well as the development of emerging markets, will also provide new opportunities for the industry. 2023 is expected to be the starting point for long-term prosperity in the LED industry. Due to the impact of the epidemic, the domestic market experienced a decline in 2022, but it is expected to recover in 2023. In the medium and long term, new demands such as XR virtual shooting and conference all-in-one machines are growing rapidly, and small-pitch LED has growth elasticity and space; new technology innovations such as Mini/MicroLED are accelerating, and there is ample market space in the future.

Following LED components will become more popular.

a, Mini/MicroLED: These are new types of LED technology that offer higher brightness, better color accuracy, and lower power consumption. They are expected to be used in a wide range of applications, including displays, lighting, and automotive.
b, UV LED: UV LED has been widely used in disinfection, curing, and other fields. With the increasing demand for environmental protection and energy conservation, UV LED is expected to become more popular in the future.
c, Smart LED: Smart LED refers to LED products that can be controlled by mobile phones or other smart devices. With the development of the Internet of Things (IoT), smart LED is expected to become more popular in home lighting, commercial lighting, and other fields.
d, High-power LED: High-power LED has been widely used in outdoor lighting, automotive lighting, and other fields. With the increasing demand for energy-saving and high-efficiency lighting, high-power LED is expected to become more popular in the future.