Global Solid State Lighting Market was valued US$17.05 Bn in 2019 and is anticipated to reach US$XX Bn by 2026 at a CAGR of about XX % during a forecast.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Solid state technology is an energy efficient technology which uses LEDs, PLEDs or OLEDs technology for its sources of illumination. Solid State Lighting converts electricity into light with the support of semiconductors. It has been used in various applications due to its number of benefits such as energy efficiency, long life, low power consumption, and flexible & small size among others. The growing awareness about energy efficient of LED lights among consumers, high growth potential in application such as automotive, outdoor lighting, medical usage and emerging smart city technology are major factor to drive the market.
The demand of Solid state lighting technology is anticipated to increase at a fast pace with continuous improvements in light efficacy, quality, and operating life. Solid state lighting technologies boost up with high brightness LEDs which is used for traffic lights, signage, and automotive backlights. Solid-state lighting devices such as incandescent and fluorescent lighting have the capability to achieve electrical-to-optical power conversion efficiencies of approximately 76% at infrared wavelengths. Moreover solid state lighting technology provides reduced maintenance and lower energy consumption.
The report on “Solid State Lighting” is segmented by technology, by application and by region. Based on technology, solid state lighting market is segmented into light emitting diodes (led) and organic light emitting diodes (OLED). Based on application, solid state lighting market is segmented into residential, commercial, industrial, and outdoor lighting. Based on end-user, solid state lighting market is segmented into conventional lighting, automotive & transport, consumer electronics, healthcare, and media & entertainment. Regionally, market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Among the Solid state lighting application segment, Commercial sector dominating the Solid State Lighting Market around XX% of CAGR in 2018. Solid State Lighting also plays an important role in automotive lighting, medical lighting, general lighting, backlighting, and others.
On the basis of end-user, automotive and transport is dominating the global solid-state lighting market for state lighting and is expected to continue over the forecast period. This growth is attributable to the introduction of new and efficient forms of lighting technology in the solid-state lighting market. Solid State Lighting is accounted to dominant revenue share of more than XX% in end-users segment.
North America holds XX% market share in Solid State Lighting. Presently, numerous key players of these regions dominate the market growth in the forecasting period. However, in 2018 Asia Pacific region accounted for XX% shares of the overall market. Also, growing government initiatives for the development of smart cities attribute to increase CAGR of solid-state lighting market in this region.
The objective of the report is to present a comprehensive analysis of the Global Solid State Lighting Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors in the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Solid State Lighting Market dynamics, structure by analyzing the market segments and project the Global Solid State Lighting Market size. Clear representation of competitive analysis of key players by End-User Industry, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Solid State Lighting Market make the report investor’s guide.
Scope of the Global Solid State Lighting Market
Global Solid State Lighting Market by Technology:
• Light Emitting Diodes (LED)
• Organic Light Emitting Diodes (OLED)
Global Solid State Lighting Market by Application:
• Outdoor Lighting
Global Solid State Lighting Market by End-User:
• Conventional Lighting
• Automotive & Transport
• Consumer Electronics
• Media & Entertainment.
Global Solid State Lighting Market by Region:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Players analyzed in the Global Solid State Lighting Market:
• Royal Philips Electronics N.V.
• Panasonic corporation
• Samsung electronics Co. Ltd.
• Acuity brands lighting, Inc.
• Cree, Inc.
• Eaton corporation PLC
• General electric
• Energy Focus, Inc.
• Intematix corporation
• Osram Licht AG
• Aixtron AG
• Automotive Lighting LLC
• Bridgelux Inc.
• Data Display Products Inc.
• Nichia Group
• Royal Philips Electronics
• Toshiba Lighting Products
• Mitsubishi Electric Corporation
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