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LED Backlighting Market Size is Anticipated to Experience Substantial Growth from 2016 to 2023

Low power consumption, light and slim form factor, and high product differentiation are the key driving factors over the forecast period. Features offered such as dimming backlight capability as well as wide color gamut is expected to propel LED backlighting market growth. However, irregular availability of components may pose a challenge. LED lighting market size is expected to exceed USD 75 billion by 2023, and is estimated to account for majority of the overall lighting industry.

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