According to the latest Gold Member Report - LED Industry Demand and Supply Data Base from LEDinside, a division of the market research firm TrendForce, in 2017, due to the stable prices on LED market and the rapid growth of automotive lighting and outdoor architectural lighting, LED market value of 2017 reached USD 17.16 billion, up 7.4% YoY.

In 2018-2022, because of the massive expansion in capacity for Chinese LED manufacturers, LEDinside expects that the ASP of LED will decrease in the future. Yet, owing to general lighting and automotive lighting, LED penetration rate will rise. In addition, with the appearance of new Micro & Mini LED, the future applications will become diversified. LEDinside forecasts that LED market value is expected to grow to USD 25.5 billion, with the CAGR of 7% from 2017-2022.

Furthermore, in 2017, the usage volume of LED wafer (4 inch Equiv.) around the world was 37 million, up 30 % YoY. Although the rise of OLED may affect the usage volume of backlight applications in cellphone and large-size panel, the usage volume of general lighting and automotive lighting has increased. Besides, with the quick growth for the application of fine pitch LED digital display, LED wafer volume has grown dramatically.