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LED market to rebound by 3% to $13bn in 2024
Automotive LED market to grow to $3.4bn
Silicon carbide substrate costs falling as larger diameters adopted
Number of 8-inch SiC fabs under construction or planned globally reaches 11
Silicon carbide power device market to grow to $5.33bn in 2026
TrendForce surveys capacity expansions in SiC substrate and device production
Quarterly smartphone production jumps 12.1% in Q4/2023
Annual total falls 2.1% to 1.166 billion units in 2023
LED lighting industry to see 5.8 billion units of secondary replacement demand for LED lamps and luminaires in 2024
Secondary replacement to comprise 78% of LED lighting demand by 2028
LED packaging market to grow at 3.9% CAGR from $16bn in 2024 to $19.4bn in 2029
CSP package type and Asia Pacific region to see highest CAGRs
Compound semiconductor substrate market growing at 17% CAGR to $3.3bn in 2029
Markets fueled by strong growth in power electronics and photonics
Consumer electronics 3D sensing VCSEL market to rebound at 11% CAGR to $1.404bn in 2028
Market fell to US$847m in 2023 due to weak consumer demand and pricing pressure
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