Phosphors and Quantum dots: LED Downconverters for Lighting and Display Applications

Transcription

1 From Technologies to Market Phosphors and Quantum dots: LED Downconverters for Lighting and Display Applications Photo credits: Department of Chemistry University of Munich (LMU), Flimlux, Christie, Glare LED Lights Sample November 2017

2 ABOUT THE AUTHOR Biography & contact Contact: Eric Virey is a Senior Market and Technology Analyst at Yole Développement. Eric is a daily contributor to the development of LED, OLED, and Displays activities at Yole, with a large collection of market and technology reports as well as multiple custom consulting projects: business strategy, identification of investments or acquisition targets, due diligences (buy/sell side), market and technology analysis, cost modelling, technology scouting, etc. Thanks to its deep knowledge of the LED/OLED and displays related industries, Eric has spoken in more than 30 industry conferences worldwide over the last 5 years. He has been interviewed and quoted by leading media over the world. Previously Eric has held various R&D, engineering, manufacturing and business development positions with Fortune 500 Company Saint-Gobain in France and the United States. Dr Eric Virey holds a Ph-D in Optoelectronics from the National Polytechnic Institute of Grenoble. Eric is also author / co-author of multiple reports (examples below) and contributed to various custom projects. LED Packaging LED Front End Manufacturing III-V Epitaxy Bulk GaN GaN on Silicon Status of the LED Industry Sapphire Market & Applications Phosphors and Quantum Dots Organic TFTs MicroLED Displays Quantum Dots and Wide Color Gamut Technologies for Displays. 2

3 TABLE OF CONTENTS Executive Summary p16 LED Downconverters: Overview and Basic Requirements p55 Phosphors p56 How to make white light? Key requirements for led downconverters Temperature stability Particle Size Distribution and Morphology Angle color consistency Textured phosphors Binders p67 Overview Thermal conductivity Optical Index Established Materials: Silicones Desired Characteristics Emerging Binder Materials Example: Solgel Materials Color Quality Metrics p78 Correlated Color Temperature (CCT) Color Rendering Index (CRI) CRI Limitations IES TM Illustration CRI vs IES TM and Current Status Conclusions LED Market Trends p89 Overview p90 LED Packages LED Industry Growth Cycles Maturation of An Industry Growth strategies Recent Evolution In The LED Packaging Industry LED Market Trends Displays Lighting p97 Evolution of the Solid state Lighting Industry Spectral Engineering Thrust Areas for Higher added Value Phosphor Central Wavelength Tunability General Lighting Applications Spectral Engineering High CRI Efficiency Losses Near UV-Violet chip + RGB phosphor solutions Spectral Engineering Example: Nichia, Seoul Semiconductor Human Centric Lighting: Circadian Rhythms Specialty Lighting. 3

4 TABLE OF CONTENTS Horticultural Lighting p122 Introduction Effect of Wavebands On the Plant Benefits Light Sources comparison Benefit of LEDs For Horticultural Lighting Applications Products Laser and High Power Density Sources p134 Overview Projection Challenges Automotive Laser for General Lighting Impact On Phosphor Requirements p146 Narrowband Downconverters Comparison of Existing Solutions Discussion Phosphor Droop Summary:What is Needed? Requirements for Display Applications p156 Color Gamut Standard LED LCD TVs The major Color Gamut standards The UHD alliance UHD Color Gamut Requirements Structure of an LCD display How to Deliver BT.2020? Downconverter Requirements Nitride And Oxynitrides Phosphors PFS and KSF Phosphors Possible Limitations of PFS Narrowband phosphors in commercial displays The quest for a Narrowband Green Phosphor Other Phosphors In Displays Examples Quantum dots benefits Quantum Dots Implementations Quantum Dots In Backlights: 1d and 2D geometries. Quantum Dots In Backlights: 1d and 2D geometries. Status Summary Color filters in Traditional Displays Quantum Dots Color filters (QDCF) Adoption Drivers and Stoppers Comparative Performance of LCD, OLED, QD Films and QDCF Status 4

5 TABLE OF CONTENTS Summary: Narrowband Emitters for Wide color gamut Downconverter Configurations p190 Downconverter configurations and deposition methods On-Chip Downconverters p192 Overview: Various types of on-chip conversion Volume conversion deposition technologies Wafer-Level Coating Phosphor Sheets Ceramic Preforms Status Composite Preforms Example: Phosphor In Glass (PIG) Single crystal preforms Illustration: Laser Lighting Summary Conclusion Remote Downconverters p218 Overview Benefits & Drawbacks Reducing Downconverter Amount Performance optimization Application trends Intellectual Property Summary Phosphor Compositions p232 Introduction p234 Overview Price trends Price Trends: Q ASP Garnet Phosphors p238 Overview Tunability Commoditization Intellectual Property YAG/GaYAG PRICE TRENDS LuAG Price Trends Conclusions Silicates p247 Overview Silicate For Spectral Engineering Intellectual Property Silicates Price Trends Conclusions 5

6 TABLE OF CONTENTS Nitrides and Oxynitrides p254 Overview Major Commercial compositions Performance Trends New compositions:yellow New Compositions: Red New Nitride Compositions: green and Cyan CarbidoNitride and Oxycarbidonitrides Supply and Performance Intellectual Property Manufacturing and Cost Aspects. Nitrides & Oxynitrides Price Trends Conclusions PFS and KFS p273 Overview Challenges Performance Trends Intellectual Property Competitive Landscape KSF- PFS Price Trends Conclusions Emerging Material Families p282 Overview Mn4+ Activated Phosphors Examples Search for blue/green - Cyan Phosphors New Strategies for Narrowband Red Perovskite Experimental Results Conclusion Quantum Dots for Lighting p291 What is a quantum dot? Structure Compositions Benefits in Lighting Applications Challenges for lighting applications Recent Developments Remaining Challenges Conclusions Volume and Revenue Forecast p305 Methodology Challenges: volume quantifications 2015 vs 2017 Models: chip Surface forecast: Surface of downconverted LED 6

7 TABLE OF CONTENTS Phosphor Quantities per LED Chip Surface Trends in conversion Schemes: Entry-Level Displays Trends in conversion Schemes:Wide Color Gamut Displays WCG TV Technology Breakdown OLED TV Capacity Constraints Small Displays Trends in Lighting: CRI CRI vs phosphor Blends Downconverter Material Trends Focus: PFS Phosphor Volumes for On-Chip conversion material family Breakdown Remote phosphor hypothesis Phosphor Volumes for Remote configurations Total Phosphor Volumes (RP + On-Chip) Revenue forecast: challenges and hypothesis revenue Forecast for On chip conversion Total revenue Forecast for Remote Phosphors [1] Total revenue Forecast (On-Chip + Remote) Conclusions On Phosphors Quantum Dots in displays : Overview QD Film ASP Cost Breakdown and Forecast Quantum Dots in displays: Revenue Forecast Quantum dots in Lighting. Competitive Landscape p341 Phosphors p342 Overview Major Phosphor Suppliers By Location Historical Perspective & Evolution Evolution Captive Market and Geographic breakdowns Top 3 phosphor suppliers Other Leading International suppliers Leading companies SWOT Analysis for Selected Suppliers Focus on China Overview Of Chinese Phosphor suppliers Conclusions Quantum Dots (Display Applications) p363 Tier-1 Players Established, or Currently Entering the Supply Chain China s QD Ecosystem Conclusion p366 Yole company presentation p368 7

8 SCOPE OF THE REPORT Downconverters Displays Mobile devices Laptops Monitors LCD TVs Large video screens LEDs Residential Commercial Industrial Municipal / Street Portable/personal Automotive Scope of the Report Lighting Plasma Display Screen Phosphor CRT Display Screen Phosphors Applications essentially extinct as of 2017 LCD Display CCFL for backlight Fluorescent Lamps Cold Cathode Fluorescence Compact & Linear Fluorescence Note: The report does not provide analysis and quantifications of the phosphor manufacturing and dispensing markets (dispensing, curing, sintering ) Others Fluorescent marking Image Intensifiers IR-VIS up or downconversion Radiation detection (scintillators) for nuclear imaging (Industrial, Safety, Medical ) 8

9 OBJECTIVE OF THE REPORT A downconverter is a material that has the capacity to absorb photons at a given wavelength and restitute light at a higher wavelength (= lower energy). Downconverters are used in conjunction with blue LEDs to create light sources emitting various colors including white. Two types of downconverters are used in the LED industry: traditional phosphors and Quantum Dots. The objective of the report is to provide the reader with a comprehensive review of the LED downconverter markets, technology trends, competitive landscape and price trends. Detailed volumes and revenue forecast are provided for each downconverter group (phosphors and Quantum Dots). For readers new to the LED downconverter industry, the report provides an overview of the key requirements and specifications for use in the major LED applications: lighting and displays. The fundamentals of color rendering and color gamut are explained, as well as how applicationspecific requirements impact the choice of a downconverter material. The major configurations (on-chip and remote) are presented and trends analyzed. Analyses of major trends in LED applications that are driving new phosphor requirements (High CRI lighting, Human Centric Lighting, Horticultural lighting ) A thorough review of the major established and emerging phosphor families is presented as well as adoption and market trends for each compositions. Competitive landscape with a special focus on China provides the reader an in-depth understanding and knowledge of established and emerging players in the industry. Price trends are discussed globally and for each material family. Complete review of Quantum Dot applications in displays and lighting is provided. Detailed volume and revenue forecast are provided for both traditional phosphor and quantum dots. 9

10 REPORT METHODOLOGY Market forecast methodology Market segmentation methodology 10

11 REPORT METHODOLOGY Technology analysis methodology Information collection 11

12 ACRONYMS AMOLED:Active Matrix OLED ASP:Average Selling Price BLU: Backlight Unit BOM: Bill Of Material CapEx: Capital Expenditure FWHM: Full Width at Half Maximum GAL: Green Aluminate HCL: Human Centric Lighting HD: High Definition HDR: High Dynamic Range PFS: Potassium Fluoro-Silicate (AKA: KFS) PPI: Pixel Per Inch QD: Quantum Dots QDCF: Quantum Dot Color Filter QDEF TM : Quantum Dots Enhancement Film (Nanosys) CASN / SCASN: (Substituded) CaAlSiN3:Eu2+ IES: Illuminating Engineering Society phosphor IGZO: Indium Gallium Zinc Oxide (TFT) CCT: Correlated Color Temperature IP: Intellectual Property CF: Color Filters IQE: Internal Quantum Efficiency CIE: Commission Internationale de l Eclairage LCD: Liquid Crystal Display COB: Chip On Board LED: Light Emitting Diode CQS: Color Quality Scale LER: Luminous Efficacy of Radiation CRI: Color Rendering Index LSN/LYSN: Lanthanum Silicate Nitride Phosphors CSP: Chip Scale Package LTPS: Low Temperature Polysilicon CTE: Coefficient of Thermal Expansion LuAG: Lutetium Aluminum Garnet EL-QD: Electro-luminescent Quantum Dot NTSC: National Television System Committee EQE: External Quantum Efficiency OEM: Original Equipment Manufacturer FC: Flip Chip OLED: Organic Light emitting Diode QY: Quantum Yield RGB: Red Green Blue RoHS: Restriction of Hazardous Substances. SDR: Standard Dynamic Range SMD: Surface Mounted Device SSL: Solid State Lighting TFT: Thin Film Transistor. UHD: Ultra High Definition UPH: Units Per Hour WCG: Wide Color Gamut WOLED:White OLED YAG:Yttrium Aluminum Garnet (phosphor) 12

13 COMPANIES CITED IN THE REPORT 3M (US), Aiddis (CN), APT (CN), Asahi Rubber (JP), Audi (DE), Barco (BE), Beijing Yuji Science and Technology (CN), BMW (DE), Bridgelux (US), Bright Phosphor Corporation (CN), Casio (JP), Chimei (TW),China Glaze (CN), Citizen Electronic (JP), Cree (US), Crytur (CZ), Daejoo (KR), Denka (JP), Disco (JP), Dolby (US), Dott (TW), Dow Corning (US), EMD (US), Evateg (TR), Everlight (TW), Flory (CN), Force4 (KR), Fulight (US), General Electric (US), Gllepe (KR), GPD Global (US), Grirem (CN), Hangzhou YingHe (CN), HC-Semitek (CN), Hisense (CN), HKUST (HK), Honglitronics (CN), Intematix (US/CN), Jiangsu Bree (CN), Jufei (CN), JVC (JP), Keheng (CN), Kyocera (JP), Ledphor (CN), Lextar (TW), Light Polymers (US), Lumenari (US), Lumileds (US), LWB (DE), Materion (US), Merck (DE), Mitsubishi Chemical (JP), Mitsui Kinzoku (JP), MLS (CN), Mujin (KR), Nanoco (UK), Nanosys (US), Nationstar (CN), Nemoto (JP), Nichia (JP), NIMS (JP), Nitto Denko (JP), NTK Ceratek (JP), Osram (DE), Pacific Light Technology (US), Panasonic (JP), Philips (NL), Phosphor Tech (US), Raypower (CN), Refond (CN), Dalian Luming (CN), San'an (CN), Seoul Semiconductor (KR), Shareshine (CN), Sharp (JP), Solgelway (FR), Sony (JP), Soraa (US), Suijing (CN), Sunfor (CN), TCL (CN), Techore Synchem (CN), Tridonic (DE), Toray (JP), Toshiba (JP), Toyoda Gosei (JP), UBE (JP), Unity Opto (TW), UPRtek (US), Wooree (KR), Xicato (US), Yantai Shield (CN), Yuanda Phosphors (CN), YujiLED (CN), ZhongKe XinYuan (CN). 13

14 Sample 2017

15 SOLID STATE LIGHTING: THRUST AREAS FOR HIGHER ADDED VALUE Spectral Engineering Connectivity Intelligence (Software, hardware) Design New form factors, materials Spectral engineering is a major thrust area for the new generation of smart, high added value LED lighting systems Business model & infrastructure - Lighting as a service, leasing models Human & Environment Centric Lighting: - Circadian cycle adjustment, health care, productivity - Light pollution, impact on ecosystems - Environmental friendly materials Visible/invisible Light Communication ion (VLC) Unique functionalities and added value Smart Lighting/Smart buildings: - Sensors: occupancy, motion sensors, color, illuminance - Smart building interfacing, daylight harvesting - Learning responsive light: adjusts to environment, occupancy patterns - Integration with in objects, furniture, windows Specialty Lighting - Horticultural - Retail, museums, Industrial (e.g. clean room) - IoT, data transmissionssion - Geo-localization 15

16 TRENDS IN LIGHTING: CRI 16

17 COLOR QUALITY METRICS: IES TM TM-30-15, developed by the Illuminating Engineering Society (IES), is a method for evaluating the color rendition capabilities of a light source. It includes numerous measures that quantify different aspects of color rendering, such as fidelity and gamut. It incorporates most of the NIST (national Institute of Standards and Technology) previous work on its Color Quality Scale (CQS). TM encompasses several individual measures and graphics that provide a comprehensive characterization of how the light will affect the color appearance of objects. The three highest-level components of the system are 2 index numbers and a graph: TM can help understand what source will be preferred in a given application. In contrast, the CIE s CRI is purely a method for evaluating color fidelity Fidelity Index (Rf): The average of the color difference between the test and reference conditions. This is similar to the CRI but over 99 color samples. The Rf values range from 0 to 100, with 100 indicating an exact match with the reference. Gamut Index (Rg): Measures relative gamut (area enclosed by the chromaticity of a set of 16 color samples) and provides information about saturation. A score >100 means increased average saturation compared to the reference source, and a score < 100 indicates decreased average saturation. Color Vector Graphic: A visual representation of hue and chroma shifts for all colors. This graph conveys what types of colors are more or less saturated under the tested light source relative to the reference illuminant. It also shows where hue shifts occur. R f Value R g Value Desaturated (R g <100) Accurate (R g =100) Saturated (R g >100) 17

18 SPECTRAL ENGINEERING In the early days of the SSL industry, adjusting the CCT by changing the concentration of the broadband garnet or silicate yellow phosphors was essentially the only degree of freedom. Today, light source designers have a more complete toolbox of downconverters and emitters allowing them to create essentially any spectral distribution: Spectral engineering is the ability to reproduce any spectral light distribution to mimic natural or artificial light sources or create any unique spectra for a specific application LED chips In/AlGaN: UV, blue, green InAlGaP: Red, orange Phosphors Garnets, silicates, nitrides and oxynitrides: some center wavelength tunability PFS: fixed wavelength Others: MGF, apatites Quantum Dots Cadmium-based and Cadmium free: tunable center wavelength Image: Osram, Phosphor Global summit

19 HUMAN CENTRIC LIGHTING: Spectral Engineering The overall objective of HCL is to adjust brightness, colors, and color temperatures of light sources to levels that are optimum for any particular setting and task. Intelligence & Control Identify patterns, use feedback for optimization Color rendering and temperature HCL Dynamic Adjustment with time, task and mood (Color, CCT, brightness) 19

20 HORTICULTURAL LIGHTING: INTRODUCTION 1 0,9 0,8 Leaves contain pigments used in photosynthesis and other cellular rocess. Pigments absorb energy from sunlight and use it to produce chemicals and enable various biological mechanisms Relative intensity 0,7 0,6 0,5 0,4 0,3 0,2 0, Wavelength (nm) Chlorophyll B Chlorophyll A Carotenoids Phytochrome far red Phytochrome red Cryptochromes Phototropins Sunlight Chlorophyll-a: Absorption peaks at 430nm and 662nm The primary pigment for photosynthesis in plants. Gives plants their green color (absorbs red and blue). Present in all photosynthetic organisms except from some bacteria. Carotenoids (α/β-carotene, Lycopene, Xanthophyll): Strong absorption between 420nm and 485nm Red-orange pigments abundant in plants, fruits, vegetables and whole grains Contributes to photosynthesis and protects from excessive light damage. Chlorophyll-b: Absorption peaks at 453nm and 642nm There is usually about half as much chlorophyll-b as the -a variety in plants. Exhibits a blue-green visual color. Present in all plants, green algae and some prokaryotes. Other pigments: Present in some plants to extend the wavelength range of photosynthesis to compensate for low light environments or poor use of light. Phytochromes (660 and 730 nm peak) : Influence germination, plant growth, leave building and flowering. 20

21 PHOSPHOR VOLUMES FORECAST (RP + ON-CHIP) The Total volume of phosphors used in the LED industry is expected to Peak in 2020 at 355 tons. 21

22 COLOR FILTERS IN TRADITIONAL DISPLAYS Optical efficiency of LC Displays: how much light gets out? In LC displays, about 2/3 rd of the light available after the first polarizer is lost in the color filters. In traditional LCD displays, white light constituted of the 3 primaries emerges from the liquid crystal cell and enters the color filters. Roughly 2/3 rd of that total light is therefore absorbed by the filters at each subpixels, leading to very low overall efficiency of an already optically complex display stack. The overall optical efficiency of an LCD display is typically only about 6%. Color filter substrate LC cell White light from narrowband R,G,B primaries Polarizer TFT Matrix Polarizer Additional optics (brightness enhancement films, diffuser) Red + Green QD Film Light Guide Plate Blue LED Backlight ~ 6% Polarizer - Light out ~9% Color filters ~ 28% TFT matrix [1] + LCD [1] Value depends on the TFT matrix aperture ratio ~43% Polarizer 100% LED sources 22

23 SINGLE CRYSTAL PREFORMS Alternatively to ceramic, garnet single crystals (YAG, GaYAG, LuAG ) can also be used for phosphor preform. Single crystal have no grain boundaries and therefore exhibit no backscattering and minimized self absorption while thermal conductivity is maximized. Crystal Growth Wafering Surface finishing / structuring Dicing / Binning Single crystal phosphor preforms further improve thermal performance and reduce scattering compared to ceramic. Assembly Shaping Typ. Thickness: 200 µm. Pin holes and connector cut-outs Pictures and Illustrations: Crytur 23

24 YAG/GaYAG PRICE TRENDS YAG prices have reached bottom. The technology is now fairly mature and there s little additional room for cost reduction. YAG prices have dropped dramatically over the last 5 years. In some cases, Chinese phosphor suppliers are offering YAG below cost to lure LED packagers into buying higher added value products such as Nitrides. ASP in China range between $XXX to $XXX/kg and contrary to the situation in 2015, some excellent quality products can be found in the middle of this range. Nevertheless, YAG price can still reach up to $XXX for highly customized products with top performance. At the lowest prices, not even the raw materials cost is covered. Suppliers often cut corners by employing lower purity raw materials (3N or less) and eliminating most of the quality controls. Picture: Yuji Electronic And Technology Co., Ltd 24

25 PFS/KSF: INTELLECTUAL PROPERTY PFS was developed and patented by GE. Its use has spread rapidly among display makers and as of Q4-2017, GE had already granted licenses to 18 LED packaging companies for using the material in LEDs for display applications [1]. The company manufactures and sells its own PFS, but the material is also available from other phosphor manufacturers. This allows potential users to have multiple sources of material and a broad choice or specifications and prices. However, licenses do NOT include use for lighting applications which is strictly restricted to GE own lighting products A license from GE is required to use PFS in displays. The material itself is available from multiple sources. PFS Licenses PFS Phosphor LED / Module Makers xxx (CN) xxx (JP) xxx (TW) xxx (CN) xxx (TW) xxx (CN) xxx (JP) xxx (CN) xxx (KR) xxx (JP) xxx (CN) xxx (JP) xxx (TW) xxx (KR) Displays Smartphones, laptops, monitors, TVs LG G5 Samsung KU7000 Apple imac Retina 5k Sony X850D LG UH9500 Sharp Aquos [1]: the technology is trademarked by GE as RadiantRed. 25

26 QUANTUM DOTS FOR LIGHTING: RECENT DEVELOPMENTS Lumileds first QD packaged LED was made possible by Pacific Light Technology (PLT) achievements in improving their QD stability and compatibility with standard LED manufacturing practices including the use of standard silicone binders. Those enables PLT QDs to be drop-in phosphor replacements for mid power LED package manufacturing (below). Illustration: Pacific Light Technology 26

27 CRI VS PHOSPHOR BLENDS CRI 100 >95 >90 >80 >70 XXX Phosphors: xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxx. XXX phosphors: xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxx Roadway, street et light, high h bay Minnesota DOT Outdoor / Industrial Intematix Office Illuminex Lighting High end residential Residential Smarthomesmes Illuminart Commercial m Commercial / retail / residential High end retail E.On DLC Lumisheet Museum XXX phosphors: xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxx Movie, Photography, TV Broadcasting Health Care Specialty Lighting Color evaluation DLC Lumisheet XXX phosphors: xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxx 27

28 MATERIAL FAMILY BREAKDOWN KSF or other Mn 4+ phosphors will increase volume share significantly, however, this value also reflects the fact that due to its low absorption, PFS quantity in LED packages is typically XX to XX times higher than for nitride. Unless performance increases further and cost decrease to levels comparable to YAG, we expect xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx xxxxxxx. Garnets will remain the dominant phosphor family with 60-70% of the market in volume. Xxxxxxxxxxxxxxx Total: xxx metric tons Total: xxx metric tons 28

29 OVERVIEW OF CHINESE PHOSPHOR SUPPLIERS Tier 1 Tier 2 Acquired in XXXX was a XXX supplier. Production is now integrated with XXX Tier 3 29

30 RELATED REPORTS 30

31 PHOSPHORS AND QUANTUM DOTS 2017: LED DOWNCONVERTERS FOR LIGHTING AND DISPLAYS Market & Technology report - November 2017 Volume saturation, price pressure and a shifting intellectual property landscape are forcing the LED phosphor industry into a rationalization period, with innovation key for survival. KEY FEATURES OF THE REPORT Get the sample of the report on A comprehensive market and technology report on LED downconverters Trends in downconverter architectures and dispensing methods including on-chip, remote, phosphor sheets, ceramic preforms, phosphor-on-glass and sol-gel Details status for all major phosphor families such as garnets, silicates, nitride/oxynitrides, potassium fluorosilicate and emerging families Quantum dots in lighting and displays Price trends Phosphor volume and revenue forecast Competitive landscape: leading suppliers, focus on China WHAT S NEW Updated analysis of the market and technology trends for traditional LED phosphors Overview of recent trends in the solid state lighting industry such as high color rendering indices, human centric lighting, horticultural lighting and laser lighting How those trends are bringing more demand for LED downconverters and driving innovation Detailed analysis of downconverter requirements for displays EXPIRATION OF FUNDAMENTAL INTELLECTUAL PROPERTY CHANGES THE MATERIAL LANDSCAPE Key patents held by Nichia and Osram have started expiring in 2017 and will continue to do so in While both companies have since built on those patents and created broad families of intellectual property (IP), it will become much more difficult for them to prevent competitors from using garnet phosphors in their LED packages. As a result, phosphor families such as silicates and yellow nitrides (LYSN) are expected to lose market share as LED packagers transition to garnets. The switch will especially affect silicates, which are perceived to have lower performance than yttrium aluminum garnet (YAG) and other garnets, However, some of the most recent silicate compositions developed by tier-1 suppliers are now matching YAG performance but come at a premium price. Leading phosphor suppliers with Big 5 LED makers Few independent phosphor makers Evolution of the competitive landscape Display backlight BLU applications drive strong growth New domestic phosphor makers a strong focus on silicate materials must therefore diversify their portfolio. They need to create new silicate compositions with unique features to meet specific demands in various high added value lighting applications. LYSN might fare better in the long term. Yellow nitrides have exhibited steady and continuous performance improvement since entering the market in The material is already matching garnet performance in most aspects and, being less mature, still offers significant room for improvement. Attractive features of yellow nitride include a lower infrared tail that could translate to higher efficiency compared to YAG. Leaders in nitride phosphors could therefore find a new growth driver as the red nitride market reaches saturation. Solid state Lighting and China General lighting takes off. Strong growth of Chinese LED industry spurred by central government 5 year plan Maturation Strong growth in general lighting, higher added value application Rationalization of phosphor industry < > 2016 (Yole Développement, November 2017) QUANTUM DOTS HAVE FINALLY TRANSITIONED FROM A SCIENCE PROJECT INTO A BILLION-DOLLAR INDUSTRY AND NEW PHOSPHORS ARE EMERGING For wide color gamut (WCG) TVs and monitors, potassium fluorosilicates (PFS/KSF) and phosphors in general are being challenged by quantum dots (QDs), which are gaining rapid acceptance. In 2017, QDs can be found in 47% of WCG TVs. QDs deliver the best color gamut and higher efficiency, allowing LCD TV manufacturers to deliver improved image quality rivaling that of OLEDs in many regards without having to invest in new fabs. QDs are therefore set to dominate the rapidly emerging market for high performance WCG TVs and monitors. However, the emergence of a narrow-band green phosphor with the appropriate center wavelength could challenge this dominance and disrupt the market.

32 PHOSPHORS AND QUANTUM DOTS 2017: LED DOWNCONVERTERS FOR LIGHTING AND DISPLAYS 100% 80% 60% 40% 20% 0% Phosphor material volume share evolution Garnets Silicates Nitrides & oxinitrides KSF / Mn4+ Others (Yole Développement, November 2017) QDs have also made significant progress toward on-chip configurations. Lumileds and Pacific Light Technology have demonstrated the first commercial grade, high color rendering index (CRI) mid-power LEDs based on high-stability QDs. However, more work is needed to reduce the cadmium content to levels meeting international regulations on heavy metals. The technology could be ready for 2019 but whether or not LED makers will be willing to adopt a downconverter solution containing cadmium will depend on the performance gap that those QD-based LEDs will deliver compared to traditional phosphors. In displays new phosphor compositions have also rapidly gained market share. After the rise of green silicon aluminum oxygen and nitrogen compounds (SiAlONs), red nitrides are being displaced by PFS which has already captured a 34% share in WCG TVs. SATURATING VOLUME AND CONTINUOUS PRICE PRESSURE CREATES A CHALLENGING ENVIRONMENT FOR PHOSPHOR SUPPLIERS. OBJECTIVES OF THE REPORT Requirements for lighting and displays Configurations and dispensing methods. How they re impacted by LED packaging technologies Trends in phosphor compositions. How application requirements and IP constrain impact composition choices How emerging applications in lighting are driving demand for better phosphors Competitive landscape: key players, price trends, supply and demand How to survive in a challenging market with saturating volumes and strong price pressure After five years of cut-throat competition that has driven prices to levels that nobody would have believed sustainable just a few years back, phosphor prices halted their free fall in The most mature compositions such as garnets have reached bottom. However, nitride, oxynitride and KSF still have room for significant decline that will offset modest volume growth as the LED market reaches saturation toward the end of the decade. In this environment, we expect further rationalization of the industry landscape with tier-2 and -3 companies in China exiting the business. Most of those companies don t have any elements of differentiation, be it on performance or manufacturing cost, that would allow them to survive in this business in the mid- and longterm. However, a handful of domestic players such as Grirem or Yuji Science are emerging as long term credible competitors alongside established leaders such as Intematix and Mitsubishi Chemical. For most phosphor suppliers, the name of the game is to keep reducing costs as volumes increase and 100 >95 >90 >80 >70 CRI Illuminex Lighting Roadway, street light, high bay Minnesota DOT Outdoor / industrial Trends in conversion schemes for lighting 4 Phosphors: At least 1 garnet + 1 nitride + others Blue, or UV/Violet LED pump. 3 to 4 phosphors: Typical: 1 or 2 Garnet + 1 or 2 Nitrides Or: Violet / UV LED pump + RGB Intematix Office (Yole Développement, November 2017) Residential Illuminart revenue remain essentially flat. However, the LED industry still has unmet needs in terms of phosphors and new trends and applications such as high CRI lighting and human-centric lighting are generating new demands for efficiency and spectral engineering. Companies able to develop and commercialize new narrow-band red and, to a lesser extent, green materials could last long-term if they can secure their innovations with strong intellectual property. Other needs, such as good cyan phosphors and red ceramics, could enable more companies, including new entrants, to succeed in this challenging market. Despite increasing commoditization, the LED phosphor industry therefore still offers opportunities for innovative companies. While price ranges for established compositions will narrow, a significant gap between low end and top performers will persist. This will enable some suppliers to keep capturing significant added value through improved material performance, consistency, ability to deliver highly customized products and strong IP. High end retail High end residential Smarthomes Commercial / retail / residential Commercial E.On DLC Lumisheet Movie, Photography, TV Color evaluation Broadcasting Museum 2 to 3 phosphors: Typical: 1 or 2 Garnet + 1 or 2 Nitrides Blue LED pump Health Care Specialty lighting DLC Lumisheet 2 to 3 phosphors: Typical: 1 or 2 Garnet + 1 or 2 Nitrides Blue LED pump

33 MARKET & TECHNOLOGY REPORT COMPANIES CITED IN THE REPORT (non exhaustive list) 3M, Aiddis, APT, Asahi Rubber, Audi, Barco, Beijing Yuji Science and Technology, BMW, Bridgelux, Bright Phosphor Corporation, Casio, Chimei, China Glaze, Citizen Electronic, Cree, Crytur, Daejoo, Dalian Luming, Denka, Disco, Dolby, Dott, Dow Corning, EMD, Evateg, Everlight, Flory, Force4, Fulight, General Electric, Gllepe, GPD Global, Grirem, Hangzhou YingHe, HC-Semitek, Hisense, HKUST, Honglitronics, Intematix, Jiangsu Bree, Jufei, JVC, Keheng, Kyocera, Ledphor, Lextar, Light Polymers, Lumenari, Lumileds, LWB, Materion, Merck, Mitsubishi Chemical, Mitsui Kinzoku, MLS, Mujin, Nanoco, Nanosys, Nationstar, Nemoto, Nichia, NIMS, Nitto Denko, NTK Ceratek, Osram, Pacific Light Technology, Panasonic, Philips, Phosphor Tech, Raypower, Refond, San an, Seoul Semiconductor, Shareshine, Sharp, Solgelway, Sony Soraa, Suijing, Sunfor, TCL, Techore Synchem, Tridonic, Toray, Toshiba, Toyoda Gosei, UBE, Unity Opt, UPRtek, Wooree, Xicato, Yantai Shield, Yuanda Phosphors, YujiLED, ZhongKe XinYuan... and more. TABLE OF CONTENTS (complete content on i-micronews.com) Executive summary 14 LED downconverters: overview and basic requirements 50 Phosphors 51 > How to make white light? > Key requirements for led downconverters > Temperature stability > Particle size distribution and morphology > Angle color consistency > Textured phosphors Binders 62 > Thermal conductivity > Optical index > Established materials: silicones > Desired characteristics > Emerging binder materials Color quality metrics 73 > Correlated color temperature (CCT) > Color rendering index (CRI) > Cri limitations > IES TM > CRI vs IES TM and current status LED market trends 84 > LED packages > LED industry growth cycles > Maturation of an industry > Growth strategies > Recent evolution in the led packaging industry > LED market trends displays Lighting 92 > Evolution of the solid state lighting industry > Spectral engineering > Thrust areas for higher added value > Phosphor central wavelength tunability > General lighting applications > Spectral engineering > High cri efficiency losses > Near UV-violet chip and RBG phosphor solutions > Spectral engineering example: Nichia, Seoul Semiconductor > Human centric lighting: > Circadian rhythms Horticultural lighting 117 > Effect of wavebands on the plant > Light source comparison > Benefit of LEDs for horticultural lighting > Applications > Products Laser and high power density sources 129 > Challenges > Automotive > Laser for general lighting Impact on phosphor requirements 141 > Narrowband downconverters > Comparison of existing solutions > Phosphor droop Requirements for display applications 151 > Color gamut > Standard LED LCD TVs > The major color gamut standards > The UHD alliance > UHD color gamut requirements > Structure of an LCD display > How to deliver BT.2020? > Downconverter requirements > Nitride and oxynitrides phosphors > PFS and KSF phosphors > Possible limitations of PFS > Narrowband phosphors in commercial displays > The quest for a narrowband green phosphor > Other phosphors in displays > Quantum dot benefits and implementations > Quantum dot in backlights: 1D and 2D geometries. > Color filters in traditional displays > Quantum dot color filters (QDCF) > Adoption drivers and barriers > Comparative performance of LCD, OLED, QD films and QDCF Downconverter configurations 185 On-chip downconverters 187 > Volume conversion deposition technologies > Wafer-level coating > Phosphor sheets > Ceramic preforms > Status > Composite preforms > Single crystal preforms Remote downconverters 213 > Benefits and drawbacks > Reducing downconverter amount > Performance optimization > Application trends > Intellectual property Phosphor compositions 227 Silicates 242 > Silicates for spectral engineering > Intellectual property > Silicate price trends Nitrides and oxynitrides 249 > Major commercial compositions > Performance trends > New compositions > Carbidonitrides and oxycarbidonitrides > Supply and performance > Intellectual property > Manufacturing and cost aspects > Nitride and oxynitride price trends PFS/KFS 268 > Challenges > Performance trends > Intellectual property > Competitive landscape > KSF/PFS price trends Emerging material families 277 > Mn4+ activated phosphors > Search for blue/green/cyan phosphors > New strategies for narrowband red > Perovskite > Experimental results Quantum dots for lighting 286 > Structure and compositions > Benefits in lighting applications > Challenges for lighting applications > Recent developments > Remaining challenges Volume and revenue forecast 300 > Challenges: volume quantifications > 2015 vs 2017 models: chip surface > forecast: surface of downconverted LED > Phosphor quantities per LED chip surface > Trends in conversion schemes: entry-level displays and WCG displays > WCG TV technology breakdown > Trends in lighting: CRI > CRI vs phosphor blends > Downconverter material trends > Focus: PFS > phosphor volumes for on-chip conversion > material family breakdown > Remote phosphor hypothesis > phosphor volumes for remote configurations > total phosphor volumes (RP + on-chip) > Revenue forecast: challenges and hypothesis. > revenue forecast for on-chip conversion > total revenue forecast for remote phosphors (on-chip + remote) > Quantum dots in displays: revenue forecast > Quantum dots in lighting. Competitive landscape 333 Phosphors 334 > Major phosphor suppliers by location > Historical perspective and evolution > Captive market and geographic breakdowns > Leading companies > Top 3 phosphor suppliers > Other leading international suppliers > Focus on china > Overview of Chinese phosphor suppliers Quantum dots (display applications) 353 > Tier-1 players established, or currently entering the supply chain > China s QD ecosystem Yole Développement company presentation 356 RELATED REPORT Benefit from our Bundle & Annual Subscription offers and access our analyses at the best available price and with great advantages LED Packaging 2017: Market, Technology and Industry Landscape Find all our reports on AUTHOR Dr Eric Virey serves as a Senior Market and Technology Analyst at Yole Développement (Yole), the More than Moore market research and strategy consulting company. Eric is a daily contributor to the development of LED, OLED, and Displays activities at Yole, with a large collection of market and technology reports as well as multiple custom consulting projects: business strategy, identification of investments or acquisition targets, due diligences (buy/ sell side), market and technology analysis, cost modelling, technology scouting, etc. Thanks to its deep knowledge of the LED/ OLED and displays related industries, Eric has spoken in more than 30 industry conferences worldwide over the last 5 years. He has been interviewed and quoted by leading media over the world. Previously Eric has held various R&D, engineering, manufacturing and business development positions with Fortune 500 Company Saint-Gobain in France and the United States. Dr Eric Virey holds a Ph-D in Optoelectronics from the National Polytechnic Institute of Grenoble. Find more details about this report here:

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36 Source: Wikimedia Commons Yole Développement From Technologies to Market 2017

37 FIELDS OF EXPERTISE COVERED BY OUR 35+ ANALYSTS Software Photonics Imaging MEMS & Sensors RF Devices & Techno. Displays MedTech Solid State Lighting (LED, OLED, ) Manufacturing Compound Semi. Advanced Packaging Power Electronics Advanced Substrates Batteries / Energy Management About Yole Développement 32

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44 REPORTS COLLECTION o o o Yole Développement publishes a comprehensive collection of market & technology reports and patent analysis in: MEMS & Sensors RF devices & technologies Imaging Medical technologies (MedTech) Photonics Advanced packaging Manufacturing Advanced substrates Power electronics Batteries and energy management Compound semiconductors Solid state lighting Displays You are looking for: An analysis of your product market A review of your competitors evolution An understanding of your manufacturing and production costs An understanding of your industry technology roadmap and related IPs A clear view on the evolution of the supply chain The combined team of 60+ experts (PhDs, MBAs, industry veterans ) from Yole Développement, System Plus Consulting and KnowMade, collect information, identify the trends, the challenges, the emerging markets, the competitive environments and turn it into results to give you a complete picture of your industry landscape. In the past 19 years, we worked on more than projects, interacting with technology professionals and high level opinion makers from the main players of the industry. Every year, Yole Développement, System Plus Consulting and Knowmade publish +120 reports. Gain full benefit from our Bundle and Annual Subscription offers About Yole Développement 39

45 OUR 2017 REPORTS PLANNING (1/2) MARKET AND TECHNOLOGY REPORTS by Yole Développement o MEMS & SENSORS Acoustic MEMS and Audio Solutions 2017 Integrated Passive Devices Market Status D Imaging & Sensing 2017 Status of the MEMS Industry 2017 Silicon Photonics 2017* MEMS & Sensors for Automotive 2017 High End Inertial Sensors for Defense and Industrial Applications 2017* Magnetic Sensors Market and Technologies 2017 Sensors and Sensing Modules for Smart Homes and Buildings 2017 Sensing and Display for AR/VR/MR 2017** MEMS Packaging 2017 Fingerprint Sensor Applications and Technologies - Consumer Market Focus 2017 o RF DEVICES AND TECHNOLOGIES RF Front End Modules and Components for Cellphones 2017 Advanced RF SiP for Cellphones G Impact on RF Industry: From Wireless Infrastructure to Cellphone Terminals 2017 RF Technologies for Automotive Applications 2017 GaN and Si LDMOS Market and Technology Trends for RF Power 2017 o MANUFACTURING Glass Substrate Manufacturing 2017 Equipment & Materials for Fan Out Technology 2017 Equipment and Materials for 3D TSV Applications 2017 Emerging Non Volatile Memories 2017* *2016 version still available / **To be confirmed o MEDTECH Status of the Microfluidics Industry 2017 Solid State Medical Imaging 2017 Connected Medical Devices: the Internet of Medical Things 2017 Sensors for Medical Robotics 2017 Artificial Organs: Market & Technology Analysis 2017 Organs-on-a Chip 2017 o ADVANCED PACKAGING Advanced Substrates Overview 2017 Integrated Passive Devices Market Status 2017 Status of the Advanced Packaging Industry 2017 Fan Out Packaging: Market & Technology Trends 2017* 3D TSV and 2.5D Business Update - Market and Technology Trends 2017 Advanced QFN: Market & Technology Trends 2017** MEMS Packaging 2017 Advanced Packaging for Memories 2017 Advanced RF SiP for Cellphones 2017 Power Packaging Market and Technology Trends 2017 Embedded Die Packaging: Technologies and Markets Trends 2017 o IMAGING & OPTOELECTRONICS 3D Imaging & Sensing 2017 Status of the CMOS Image Sensor Industry 2017* Camera Module for Consumer and Automotive Applications 2017* Uncooled Infrared Imaging Technology & Market Trends 2017* Solid State Medical Imaging 2017 Embedded Software for Machine Vision Systems 2017** o BATTERY AND ENERGY MANAGEMENT Status of the Rechargeable Li-ion Battery Industry About Yole Développement 40

46 OUR 2017 REPORTS PLANNING (2/2) o POWER ELECTRONICS Status of Power Electronics Industry 2017 Power MOSFET 2017: Market and Technology Trends IGBT Market and Technology Trends 2017 Power Module Packaging: Material Market and Technology Trends 2017 Power SiC 2017: Materials, Devices, and Applications Power GaN 2017: Materials, Devices, and Applications* Materials Market Opportunities for Cellphone Thermal Management (Battery Cooling, Fast Charging, Data Processing, etc.) 2017 Gate Driver Market and Technology Trends 2017 Power Management ICs Market Quarterly Update 2017 Integrated Passive Devices Market Status 2017 Thermal Management for LED and Power 2017 o COMPOUND SEMICONDUCTORS Power SiC 2017: Materials, Devices, and Applications Power GaN 2017: Materials, Devices, and Applications* GaN and Si LDMOS Market and Technology Trends for RF Power G Impact on RF Industry: From Wireless Infrastructure to Cellphone Terminals 2017 Bulk GaN Substrate Market 2017 o DISPLAYS MicroLED Displays 2017 MicroLED IP 2017 Quantum Dots for Display Applications 2017 Phosphors & Quantum Dots LED Downconverters for Lighting & Displays Horticultural Lighting Technology, Industry and Market Trends Automotive Lighting Technology, Industry and Market Trends* Active Imaging and Lidar IR Lighting** LED Lighting Module Technology, Industry and Market Trends IR LEDs and VCSELs - Technology Applications and Industry Trends 2017 Phosphors & Quantum Dots LED Downconverters for Lighting & Displays MicroLED Displays 2017 CSP LED Lighting Module 2017 LED Packaging 2017 Thermal Management Technology and Market Perspectives in Power Electronics and LEDs 2017 PATENT ANALYSIS by Knowmade Consumer Physics SCiO Molecular Sensor Patent-to-Product Mapping 2017 Patent Licensing Companies in the Semiconductor Market - Patent Litigation Risk and Potential Targets 2017 MEMS Microphone: Patent Landscape Analysis 2017 Knowles MEMS Microphones in Apple iphone 7 Plus Patent-to-Product Mapping Microbolometer: Patents Used in Products 2017 Microfluidic Technologies for Diagnostic Applications Patent Landscape 2017 Pumps for Microfluidic Devices Patent Landscape III-N Patent Watch MicroLEDs: Patent Landscape Analysis 2017 Uncooled Infrared Imaging: Patent Landscape Analysis D Monolithic Memory: Patent Landscape Analysis 2017 NMC Lithium-Ion Batteries Patent Landscape Analysis FLUIDIGM Patent Portfolio Analysis o SOLID STATE LIGHTING UV LEDs Technology, Manufacturing and Application Trends* *2016 version still available / **To be confirmed TEARDOWN & REVERSE COSTING by System Plus Consulting More than 60 teardowns and reverse costing analysis and cost simulation tools to be published in About Yole Développement 41

47 OUR 2016 PUBLISHED REPORTS LIST (1/2) MARKET AND TECHNOLOGY REPORTS by Yole Développement o MEMS & SENSORS Gas Sensors Technology and Market 2016 Status of the MEMs Industry 2016 Sensors for Cellphones and Tablets 2016 Market and Technology Trends of Inkjet Printheads 2016 Sensors for Biometry and Recognition 2016 Silicon Photonics 2016 o IMAGING & OPTOELECTRONICS Status of the CMOS Image Sensor Industry 2016 Uncooled Infrared Imaging Technology & Market Trends 2016 Imaging Technologies for Automotive 2016 Sensors for Drones & Robots: Market Opportunities and Technology Evolution 2016 o MEDTECH BioMEMS 2016 Point of Care Testing 2016: Application of Microfluidic Technologies o ADVANCED PACKAGING Embedded Die Packaging: Technology and Market Trends D & 3D IC TSV Interconnect for Advanced Packaging: Business Update 2016 Fan-Out: Technologies and Market Trends 2016 Fan-In Packaging: Business update 2016 Status and Prospects for the Advanced Packaging Industry in China 2016 o MANUFACTURING Thin Wafer Processing and Dicing Equipment Market 2016 Emerging Non Volatile Memories 2016 o COMPOUND SEMICONDUCTORS Power GaN 2016: Epitaxy and Devices, Applications and Technology Trends GaN RF Devices Market: Applications, Players, Technology and substrates 2016 Sapphire Applications & Market 2016: from LED to Consumer Electronics Power SiC 2016: Materials, Devices, Modules, and Applications o LED UV LED Technology, Manufacturing and Applications Trends 2016 OLED for Lighting 2016 Technology, Industry and Market Trends Automotive Lighting: Technology, Industry and Market Trends 2016 Organic Thin Film Transistor 2016: Flexible Displays and Other Applications Sapphire Applications & Market 2016: from LED to Consumer Electronics o POWER ELECTRONICS Power Electronics for EV/HEV 2016: Market, Innovations and Trends Status of Power Electronics Industry 2016 Passive Components Technologies and Market Trends for Power Electronics 2016 Power SiC 2016: Materials, Devices, Modules, and Applications Power GaN 2016: Epitaxy and Devices, Applications, and Technology Trends Inverter Technologies Trends & Market Expectations 2016 Opportunities for Power Electronics in Renewable Electricity Generation 2016 Thermal Management Technology and Market Perspectives in Power Electronics and LEDs 2017 GaN RF Devices Market: Applications, Players, Technology and substrates 2016 o BATTERY AND ENERGY MANAGEMENT Beyond Li-ion Batteries: Present and Future Li-ion Technology Challengers 2016 Stationary Storage and Automotive Li-ion Battery Packs 2016 Opportunities for Power Electronics in Renewable Electricity Generation About Yole Développement 42

48 OUR 2016 PUBLISHED REPORTS LIST (2/2) PATENT ANALYSIS by Knowmade Microbattery Patent Landscape Analysis Miniaturized Gas Sensors Patent Landscape Analysis 3D Cell Culture Technologies Patent Landscape Phosphors and QDs for LED Applications Patent Landscape TSV Stacked Memory Patent Landscape Fan-Out Wafer Level Packaging Patent Landscape Analysis TEARDOWN & REVERSE COSTING by System Plus Consulting More than 45 teardowns and reverse costing analysis and cost simulation tools published in MORE INFORMATION o o All the published reports from the Yole Group of Companies are available on our website Ask for our Bundle and Annual Subscription offers: With our bundle offer, you choose the number of reports you are interested in and select the related offer. You then have up to 12 months to select the required reports from the Yole Développement, System Plus Consulting and KnowMade offering. Pay once and receive the reports automatically (multi-user format). Contact your sales team according to your location (see the last slide) About Yole Développement 43

49 MICRONEWS MEDIA o About Micronews Media To meet the growing demand for market, technological and business information, Micronews Media integrates several tools able to reach each individual contact within its network.we will ensure you benefit from this. ONLINE ONSITE e-newsletter i-micronews.com i-micronewsjp.com FreeFullPDF.com Unique, cost-effective ways to reach global audiences. Online display advertising campaigns are great strategies for improving your product/brand visibility. They are also an efficient way to adapt with the demands of the times and to evolve an effective marketing plan and strategy. Benefit from the i-micronews.com traffic generated by the 8,500+ monthly visitors, the 11,500+ weekly readers e-newsletter Events Brand visibility, networking opportunities Today's technology makes it easy for us to communicate regularly, quickly, and inexpensively but when understanding each other is critical, there is no substitute for meeting in-person. Events are the best way to exchange ideas with your customers, partners, prospects while increasing your brand/product visibility. Seven main events planned for 2017 on different topics to attract 100 attendees on average Webcasts Targeted audience involvement equals clear, concise perception of your company s message. Webcasts are a smart, innovative way of communicating to a wider targeted audience. Webcasts create very useful, dynamic reference material for attendees and also for absentees, thanks to the recording technology. Gain new leads for your business from an average of 300 registrants per webcast Contact: Camille Veyrier (veyrier@yole.fr), Marketing & Communication Project Manager About Yole Développement 44