The latest report from LEDinside, a division of TrendForce, finds the total value of the global LED market (include both visible and non-visible LED products) arrived at US$14.32 billion in 2015, representing YoY growth of -3%. The market witnessed its first annual decline in value last year mainly because of the price war among the LED manufacturers, with the ASPs of some mainstream LED packages suffering a drop of 40% or more compared with 2014. The rising U.S. dollar also resulted in falling revenues for many manufacturers.