Seoul Semiconductor has moved up to the world's fourth largest LED supplier by sales volume, according to Strategies Unlimited's High-Bright LED Market Review and Forecast 2010, with 2009 sales of $301 million.
Overall, the world LED market rose 6.2 percent to $5.4 billion, led by the demand for LED TVs, the report noted. As applications for LEDs become more diverse, competition for market share among the world's LED supplies has intensified.
The forecast projects market growth averaging 29.5% per year, reaching over $19 billion by 2014. The application with the highest forecast growth rate is signs/displays, with a CAGR of 60.6%
The results of the report show that, despite the fact that sales of LEDs for LCD TVs last year were less than 10% of our total sales, performance was excellent in all market segments including lighting systems, said S.M. Lee, Vice President of Worldwide Sales at Seoul Semiconductor. This year, the quantity of LEDs used for LCD TVs in China, Japan, and Taiwan are expected to increase significantly. In addition, the company is showing significant growth in the LED lighting market.
