By BizLED Bureau
Mar 9, 2016: Malaysia-based research organization Elsoft Research Bhd is planning to produce around 40 units of light-emitting diode (LED) test equipment in first half of 2016. The market value of the LED product is estimated at US$ 4.8 million.
Elsoft will produce 40 units of LED test equipment
The group’s CEO responded to the query stating that the LED test equipment would be delivered to customers in the smart devices, automotive and general lighting sectors. He added that the current produce of 40 units is a double-digit percentage growth in the volume of the previous year’s corresponding period.
The prominent sectors driving the key growth are the automotive and smart device industries. For the smart device segment, the team is developing LED test equipment used for checking the lighting functions of new smart devices and they are scheduled for release in second half of 2016.
LED testers for the daytime running lights are in making for the automotive sector. New LED headlamps and rear-end signature lightings are being made for branded cars. Consumers from Malaysia, China and Taiwan comprise the main consumers for the automotive sector. The medical equipment manufacturing business had secured orders from the local customer(s) supplying to hospitals in the country. They further added that they are making the embedded electronic control system for medical equipment. Rising awareness among consumers regarding the importance of adaptive light solutions such as dynamic bend lights and a glare-free high beam is also anticipated to fuel exterior lighting demand.
The group achieved record revenue for last fiscal year. It posted US$ 6.07 in net profit on the back of US$ 12.07 million revenue, compared with US$ 4.86 million and US$ 10.93 million respectively in the year 2014. The automotive industry would boost a significant growth driver for the group. According to a recent report by Grand View Research, the automotive lighting market will reach an estimated US$ 34.65billion by 2022 with a compounded annual growth rate (CAGR) of 7.4%.
The next few years will see a rise in demand due to growing safety concerns and stringent government regulations.