Solid State Lighting Market Overview, Growth, Opportunities and Development 2023Information TechnologyUpdated on Jan 31, 2019 View more like this | Visit MONTCLAIR, NJ | Contact Ashish Sharma |
The report on the global Solid State Lighting market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player's market share analysis, competitive landscape and supply chain analysis.
Market Highlights:
Solid state lighting is gaining traction owing to its energy-saving benefits. OLED, PLED or LED are the commonly used tube/bulb technology in solid state lighting system. These lighting systems are integrated with special semiconductors that assist in converting electricity into light. Benefits such as low power consumption, long life, and small & flexible size are prompting consumers to switch to solid state lighting system from other conventional lighting systems. Rising global trends of finding energy sustainability and clean energy usage is also expected to drive the sales of solid state lighting in the forthcoming years. Market Research Future (MRFR)’s in its latest report has revealed that the global market for solid state lighting will exhibit a CAGR of 8% during the forecast period (2016-2022).
Based on offering, the market is segmented into hardware, software and services. The services segment is expected to grow at a significant rate during the forecast period. This is owing to the growing urbanization and increasing expansion of city projects. Increased demand for energy efficient lighting is one major factor driving the growth of solid state lighting market. According to a recent study report published by Market Research Future, The global market of solid state lighting is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023).
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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.
Regional Analysis
North-America is dominating the Global Solid State Lighting market with the largest market share due to government of U.S. is planning to adopt energy efficient technology such as LED and thereby has planning to prohibit use of incandescent bulbs in the region and therefore is expected to grow with a highest revenue by 2022. Europe is expected to be the second largest market for Solid State Lighting followed by Asia-Pacific region during forecast period.
Segmentation:
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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Target Audience:
- OEM
- Consumer electronics vendors
- Transportation LED vendors
- Research & consultants
- Distributors and resellers
- Government
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
Continued……
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) (%)
Continued……
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