The global solid state lighting market is predicted to have a startling growth at an alluring CAGR over the assessment period (2017-2023). Solid state lighting simply put is a process to generate light through the utilization of PLEDs, OLEDs and LEDs as the illumination source. Owing to its alluring features such as flexible and small size, low power consumption, energy efficiency and long life, it is widely used in vehicle lights, parking lot lights, building exteriors, remote controls, train marker lights, train lights and others.
Solid state technology is an energy efficient technology which uses LEDs, OLEDs or PLEDs technology for its sources of illumination. It converts electricity into light with the support of semiconductors includes in it. It has been used in various applications due to its number of benefits such as long life, energy efficiency, low power consumption, and small & flexible size among others.
The major factor that drives the growth of Solid State Lighting market is growing awareness about energy efficient LED lights among consumers, high growth potential in application such as automotive, medical, outdoor lighting due to use of solid state lighting and emerging smart city technology among others.
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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:
March 2019- LED Bulb Expert, Shanghai Wellmax Lighting is gearing up to attend the two upcoming major exhibitions, the Hong Kong International Lighting Fair scheduled from April 6-9th and the 125th China Import and Export Fair, scheduled from April 15-19th for showcasing its latest LED products including iDREAM LED bulbs, iDAPT technology and much more. Wellmax is a renowned name in the LED industry having over 200 brand partners the world over. Owing to its expertise in LEDs and global brand awareness, the company has succeeded in creating strategic partnership with top brands namely Samsung, SGS and DEKRA for collaborating on creating innovative LED technologies.
The solid state lighting market is highly competitive. For upholding their position in the market and driving growth, many diversified and dynamic domestic organizations, international organizations along with new entrants are creating a competitive landscape. The market leaders are constantly coming up with innovations and also seeking market expansion increasingly through different mediums such as cost-effective product portfolio, increasing investments in R&D activities, innovation and mergers and acquisitions. Moreover, the leading players in the solid state lighting market are investing largely on internal research and development and above all acquiring other firms.
Based on region, the solid state lighting market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Rest of the World. Of these, the APAC region will remain the driving force in the solid state lighting market over the assessment period. India, Japan, China and Germany are expected in driving the growth of the market in this region due to the presence of a good number of leading players here. The increasing use of this light both in outdoor and indoor applications especially in China and India will spur the solid state lighting market growth. In the Rest of the World, the solid state lighting market will have a substantial growth over the assessment period owing to rising need for lighting applications that can save energy, soaring need for HID lighting and also growing infrastructure expansion in the MEA region.
Market Research Future report offers an all-inclusive segmental analysis of the solid state lighting market on the basis of installation type, offering and application.
Based on installation type, it is segmented into retrofit installation and new installation.
Based on offering, the solid state lighting market is segmented into services, hardware and software.
Based on application, it is segmented into medical lighting, automotive lighting, backlighting, general lighting and others.
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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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