Global Solid State Lighting Market, by Technology (Light emitting diode (LED), Organic light emitting diode (OLED)), Application (Commercial, Transportation, Outdoor Lighting, Residential, Consumer Electronics) – Forecast 2022
Market Synopsis of Solid State Lighting Market:
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.
Globally the market for Solid State Lighting market is expected to grow at the rate of more than ~8% from 2016 to 2022.
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Global Solid State Lighting Market (2016-2022):
Key Players for Solid State Lighting Market:
Some of the major players in Global Solid State Lighting Market include Royal Philips Electronics N.V. (Netherlands), Panasonic corporation (Japan), Samsung electronics Co. Ltd. (South Korea), Acuity brands lighting, Inc. (U.S.), Cree, Inc. (U.S.), Eaton corporation PLC (Ireland), General electric (U.S.), Energy Focus, Inc. (U.S.), Intematix corporation (U.S.), and Osram Licht AG (Germany) among others.
Segments for Solid State Lighting Market:
Global Solid State Lighting Market can be segmented as follows:
- Segmentation by Technology: Light emitting diodes (LEDs), organic light emitting diodes (OLED) or polymer light emitting diodes (PLED).
- Segmentation by Application: Residential, commercial, outdoor lighting, automotive, medical, transportation, and consumer electronics among others.
Regional Analysis of Solid State Lighting Market:
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.
- Consumer electronics vendors
- Transportation LED vendors
- Research & consultants
- Distributors and resellers
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