May 14, 2013…TechNavio, a market analysis firm owned by Research and Markets, predicts that Global Packaged GaN LED market will grow at a CAGR of 12.1 percent during 2012-2016. According to Technavio, one of the key contributors to this market growth is the increased adoption of packaged GaN LEDs in the lighting segment. Packaged GaN LEDs have been getting smaller, and more powerful. So fewer LEDs are needed to produce the same light output as older LEDs. However, the company says that the current oversupply of packaged GaN LEDs could pose a challenge to the growth of this market.
According to TechNavio, key vendors in this market include Cree Inc., Epistar Corp., Osram Opto-semiconductors GmbH and Samsung Electronics Co. Ltd. Other vendors mentioned in the report are NXP Semiconductors N.V, Soraa Inc., and Seoul Semiconductor Co. Ltd
An analyst from TechNavio’s Hardware team said, ”One of the major trends in the Global Packaged GaN LED market is rapid technological advances. The continuous technological advancement has increased the number of applications in which packaged GaN LEDs are used. Furthermore, these advances have enabled packaged GaN LED vendors to deliver high-quality output for customers. The technological advancement has resulted in the development of advanced, compact, and power-efficient packaged GaN LEDs that can be deployed in a wide range of applications.”