[a 30.5% increase in the price of TrendForce:LED lighting chips will drive the annual output value of LED chips to US $2.9 billion.] according to a consultancy study by TrendForce Jibang, the decline in volume and price led to a 23% year-on-year decline in the output value of the global LED chip market in 2022, to only US $2.78 billion. With the recovery of the LED industry in 2023, the recovery of LED lighting market demand is the most obvious, which is expected to further drive the LED chip output value to return to growth, estimated to reach 2.92 billion US dollars. Recently, some LED manufacturers have taken price increase measures, mainly focusing on lighting LED chips. Low-power lighting chips with an area of less than 300 mil ²(including) have seen the most price increases, falling at about 33.5%; special sizes can increase by up to 10%.