Digitimes Research estimates that the production value for high brightness LED chips will have an annual growth rate of 12.9% and reach US$12.74 billion in 2014. The applications that will drive growth momentum are LED lighting, tablet, mobile, and automotive. For the global LED lighting market, the market size will reach US$25.82 billion in 2014 or a market penetration rate of 23.4%. This is attributable to exponential shipment growth for light bulbs, tubes, and directional lamps. With pricing trending downward, the annual LED lighting output value will grow 38.8%.