Packaged LED are continuing to advance in terms of color quality, efficacy, and lumen outputs. Evolution in architecture, component and package developments are trending in the packaged LED market. The market saw consolidation in years 2014 and 2015 owing to overcapacity caused by LED TV and the entry of Chinese players in the industry.
Most of the small players went bankrupt and mid players have been acquired to decrease the competition and stabilize the price erosions. The packaged LED market experienced massive hit owing to drastic price erosions along with discordant exchange rates in most of the regions. Decline in displays and mobile markets in 2015 was another reason for companies to compete in this industry.
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LED industry is innovating, moving and continuing to pace itself as compared to the situation in 2015. The industry has paced to recover from 2016 and the manufacturers are focused towards increasing their activity in automotive industry as the automotive application is experiencing growth as compared to lighting segment.
The ASPs have mostly stabilized for highly commoditized stocks such as low-power and mid-power LEDs. The demand for lighting application is rising along with the competition being stiffer leading to significant drops in LED prices as the competition intensifies.