QYResearch: Global LED Strip market will reach 1009.15 Million USD by 2022

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QYResearch LED Strip is also called Flex LED Strip. Flex LED strip lights are thin flexible printed circuit boards with LEDs and resistors attached that populated by surface mounted light-emitting diodes (SMD LEDs) that usually comes with an adhesive backing. These LED strips come in many configurations meaning one can be very bright to light an entire room and another less bright for accent lighting. LED flexible strips can also be made to use any usable wavelength or color that is desired for your home or business project.

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QYResearch A flexible LED strip can be used in almost everywhere and it is an ideal choice for thin channel letters, halo letters, edge-lit sings, cove lighting and decorative lighting, etc.

According to QYResearch, The global flex LED strip market had generated revenues of US$ 435.15 Million in 2015; this is projected to expand at a CAGR of 14.96 % during the forecast period (2017–2022) and reach a market size of US$ 1009.15 Million by 2022.

Much more companies getting into the flex LED strip industry and the market is much scattered. Key players in flex LED strip market include OML Technology, Jiasheng Lighting, Osram, Philips, Forge Europa, Sidon Lighting, etc.

In 2016, major demand is expected to account 24.69 % from China in the global flex LED strip market. Other major demand is expected from Europe and USA contributed total 46.08 percent. Japan is occupied 4.25 % market in flex LED strip industry, and will increase stably.

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QYResearch As of 2016, the commercial application segment of the flex LED strip is the largest segment of the global flex LED strip market with a market share of 85.47 % percent.

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