The APAC LED market is expected to grow at a double digit rate during the forecasted period. Flourishing real estate industry, favorable government initiatives and increased funding for high efficiency lighting along with the continuous replacement of existing outdoor lighting, is expected to drive the market dynamically. The Asia pacific region would go on to become a principal consumer of LED products and should become a major supplier for LED chips and packages, supplemented with the rising demand of product and components.
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The falling price of LEDs is one factor that may limit the growth of this market; however, the growing demand in newer applications areas would over run this restraint and propel the market growth.Manufacturers should focus on developing tailored products to address the unique needs and preferences of the market that are anticipated to rise in future.
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Companies operating in this market are strategically diverse as they deal with different operations in the LED value chain. Key players in the LED market are Samsung Electronics Co.
Ltd, Seoul Semiconductor Co. Ltd, Philips Lumileds Lighting Company, Cree Incorporation, Nichia Corporation and OSRAM Licht AG contributing major revenue for this region.
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