The advance structural design of solid state lighting devices make them more durably and shock-resistant than conventional filament wires and brittle glass based bulbs. In addition, absence of filament evaporation issues, further increase the product life cycle. The swelling demand for energy efficient lighting solutions, which conform to greater productivity and high durability requirements along with environmental implications is playing an important role in propelling the growth of the solid state lighting market. Such lighting systems are witnessing incredible among success in developing countries were the need for sustainable power and lighting system is more.
Moreover, rapid industrialization and urbanization in many of emerging economies is also creating opportunities for solid state lighting. At the same time, stricter emission laws and increasing concerns over global warming is expected to influence it adoption in advanced economies. There has been tremendous product development activities, which has led to advancement in energy efficient lighting system. Consumers all over the world are shifting towards lighting solutions that are not only energy efficient but last longer. Factor as such are expected to reflect favourably on the market during the forecast period. Potential application in the medical sector and the automotive sector is also encouraging market players to step up efforts in developing the technology further.
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Major Key Players
- OSRAM Licht AG (Germany),
- Royal Philips Electronics N.V. (Netherlands),
- Seoul Semiconductor Co., Ltd. (South Korea),
- General Electric Company (U.S.),
- Nichia Corporation (Japan),
- AIXTRON SE (Germany),
- Applied Materials, Inc. (U.S.),
- Applied Science and Technology Research Institute Company Limited (Hong Kong),
- Bridgelux, Inc. (U.S.),
- Cree, Inc. (U.S.),
- Acuity Brands, Inc. (U.S.),
- Advanced Lighting Technologies, Inc. (U.S.),
- Energy Focus, Inc. (U.S.),
- Intematix Corporation (U.S.),
- LED Engin, Inc. (U.S.),
Toyoda Gosei Co., Ltd. (Japan), TCP International Holdings Ltd. (Switzerland), Topanga Technologies, Inc. (U.S.), Ceravision Ltd (U.K.), and Bright Light Systems, Inc. (Georgia) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Solid State Lighting Market.
According to MRFR, Globally the market for Solid State Lighting market is expected to grow at the rate of more than ~8% from 2016 to 2022.
Latest Industry Trend and News:
Acuity Brands, Inc. recently revealed that location-powered mobile specialist Verve(TM) is partnering with the company in its Atrius(TM) IoT ecosystem. This will allow verve to bolster its out-of-store and in-store shopper data and engagement solution for brands and retailers.
Leading technology firm Osram Licht AG has reportedly agreed to acquire BAG Electronics GmbH, a light component manufacturer for an undisclosed amount. The move will allow Osram to expand its electronic component business.
Solid state lighting market in North America is expected to remain highly lucrative throughout the assessment period. This is primarily owing to increased government efforts to adopt energy efficient technologies such as OLED and LED. The use of incandescent bulb has dropped in countries such the US and Canada, which supporting the growth of the market. Meanwhile, Europe is expected to retain it second position over 2022. Increased demand for solid state lighting in both commercial and residential sectors is driving the sales of solid-state lighting in Europe. During the forecast period, Asia Pacific (APAC) is also expected to witness a health growth.
The solid-state lighting market can be classified into 6 key segments for the convenience of the report and enhanced understanding;
Segmentation by Installation Type: Comprises of New Installation and Retrofit Installation
Segmentation by Offering: Comprises of Hardware, Software and Services
Segmentation by Application: Comprises of General Lighting, Backlighting, Automotive Lighting, Medical Lighting and Others
Segmentation by Region: Comprises of Geographical regions – North America, Europe, Asia Pacific and Rest of the World.
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- Consumer electronics vendors
- Transportation LED vendors
- Research & consultants
- Distributors and resellers
List of Tables
Table 1 Global Solid-State Lighting Market (Usd Billion)
Table 2 Global Solid-State Lighting Market, By Technology
Table 3 Global Solid-State Lighting Markets, By Region
Table 4 Global Solid-State Lighting Market, By Region
Table 5 Global Solid-State Lighting Market, By Application
Table 6 Global Solid-State Lighting Market, By Region
List of Figures
FIGURE 1 RESEARCH PROCESS
FIGURE 2 DRIVERS OF GLOBAL Solid-State Lighting MARKET
FIGURE 3 GLOBAL SOLID-STATE LIGHTING MARKET: BY TECHNOLOGY (%)
FIGURE 4 GLOBAL SOLID-STATE LIGHTING MARKET: BY APPLICATION (%)
FIGURE 5 GLOBAL SOLID-STATE LIGHTING MARKET SHARE BY REGION (2016 & 2022) (%)
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