LED Phosphors Market Share

APAC Market Forecast

The Asia Pacific LED phosphors market is predicted to gather the highest revenue share of 35% over the forecast period. The major factor to dominate the market expansion in this region is growing disposable income along with the growing middle-class population. The middle-class population by 2030 in Asia-Pacific is set to rise from approximately 1 billion individuals in 2015 to over 3 billion people. Hence, the spending on various electronics products such as LED lights, LCD TVs and displays, and portable PCs is set to rise further boosting the market share in this region. Moreover, the LED phosphors market is also expected to be encouraged by the rising support by the government to foreign companies for offering cheaper land to boost LED manufacturers in the region.

North American Market Analysis

The North America LED phosphors market is also estimated to have notable growth in the revenue over the coming years. This growth of the market in this region is set to be influenced by the growing construction of residential spaces. Moreover, this region is considered to be the dominating region in the field of technology. As a result, the integration of machine learning and artificial intelligence is set to rise in LED. Therefore, the LED phosphors market in this region for LED phosphate is predicted to experience growth.