Overview
The International LED market is booming. For a long time now, thanks to their high efficiency and longevity, light-emitting diodes have presented a future-oriented alternative to conventional lighting. Today’s global lighting industry is responsible for approximately 19% of electricity use and 6% of greenhouse gas emissions. In this context, LED technology has the potential to be a game changer for the industry, with well-publicized environmental and technological advantages compared to conventional lighting.
Asia is projected to be one of the highest growth regions and account for over 35% of the global lighting market and expected to rise to 45% by 2020. The primary growth drivers in Asia are high construction rates, major government funding for high efficiency building lighting, and replacement of existing outdoor lighting infrastructure. In addition to becoming the major LED lighting consumer, Asia is expected to be the chief supplier of led chips and packages with product demand and component supply moving to asia, companies need to optimize their portfolio and global footprint to stay competitive. Manufacturers need to develop tailored products that address the unique needs and preferences of the market. To enable growth in the industry SIMCO provides complete turnkey solution and expertise to manufacture LED chips.
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