Solid State Lighting Market - Global Industry Analysis

Solid State Lighting Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Category: Semiconductor & Electronics Report Format : PDF Report Code: ZMR-6375 Status : Upcoming

Description

Global Solid State Lighting Market: Overview

Solid state lighting (SSL) is a technology used for lighting that uses polymer light-emitting diodes (OLED), light emitting diodes (LED), and organic light emitting diodes (OLED) instead of using filaments or gas to illuminate. SSL devices are exceptionally long-lived and are resistant to shock & vibration. The sources of SSL can be made with organic or inorganic semiconductors. The SSL device built with inorganic semiconductors is a LED while the one with organic semiconductors is an OLED.

Report Scope:

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Global Solid State Lighting Market: Growth Factors

The global solid state lighting market is growing at a lucrative rate. Growing awareness regarding energy-efficient technologies for lightning, increase in demand for SSL owing to rapid growth in the development of infrastructure, and increasing applications in automotive lighting are some of the crucial factors that are propelling the growth of the global market. Further, solid state lighting has been used in a wide range of applications such as building exteriors, train marker lights, street & parking lot lights, modern vehicle lights, and traffic lights. Also, over incandescent tungsten-halogen lamps, solid state lightening is preferred in entertainment industry. In addition to this, SSL provides several benefits such as long life, high performance in cold environments, lower energy use compared to incandescent lamps, uni-directional distribution, ease of control, and small size. All such factors have led to an increase in the use of solid state lighting thereby spurring the growth of the global solid state lighting market. In addition to this, the increase in the importance of LED technology and the rise in the adoption of smart city projects are also equally fueling the growth of the global market. Moreover, the rise in buying power and government initiatives to adopt energy-efficient technologies are also some of the important factors that are augmenting the growth of the market. Furthermore, the advancement in technology in the lighting sector may have ample opportunities for the growth of the global solid state lighting market during the forecast period. However, the high cost of solid state lighting may hinder the growth of the global solid state lighting market.

The growth of the global solid state lighting market is severely affected due to the COVID-19 pandemic. Many governments imposed strict lockdowns to control the spread of the infection which resulted in disruption of the supply chain, distributors network, shortage of raw material, and halt of the manufacturing process. Further, complete lockdown in many countries affected the sale of the products due to the closedown of the retail market for several months. This has resulted in low revenue generation for the overall solid state lighting market. However, the demand for solid-state lighting is high, and with the recovery from pandemic conditions, the market is expected to register healthy growth over the forecast period.

Global Solid State Lighting Market: Segmentation

The global solid state lighting market is bifurcated as technology, installation type, applications, and region. Based on the technology, the solid state lighting is categorized as light-emitting diodes (LED) and organic light-emitting diodes (OLED). The installation type is divided into retrofit and new installation. Key applications of solid-state lighting are categorized as electronic billboards, general lighting, automotive lighting, medical lighting, and backlighting.

Global Solid State Lighting Market: Regional Analysis

Asia Pacific is expected to remain a key market region for solid state lighting. The region holds the largest share of the market and is expected to register healthy growth over the forecast period. Some of the prominent facts that are contributing to the significant growth of the market include the presence of major solid-state lighting manufacturers in the region and supporting government policies to use less energy-consuming products. Asia Pacific is witnessing significant growth of the industries in every sector where the requirement of solid-state lighting is always high hence with the growing need for solid-state lighting from several sectors within the region the key manufacturers get healthy demand from a local market. North America and Europe are also expected to contribute healthy revenue in the market over the forecast period. The high benefits of solid-state lighting over traditional lighting solutions are primarily fueling its demand in North America and Europe.

Global Solid State Lighting Market: Competitive Players

Some of the key players in the global solid state lighting market include Royal Philips Electronics N.V., Osram Licht AG, General Electric Company, Nichia Corporation, Seoul Semiconductor Co. Ltd., Cambridge Display Technology Ltd., Applied Materials, Inc., Mitsubishi Electric Corporation, Cree, Inc., and Eaton Corporation PLC.

Global Solid State Lighting Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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FrequentlyAsked Questions

Growing awareness regarding energy-efficient technologies for lightning, increase in demand for SSL owing to rapid growth in the development of infrastructure, and increasing applications in automotive lighting are some of the crucial factors that are propelling the growth of the global market. Furthermore, the advancement in technology in the lighting sector may have ample opportunities for the growth of the global solid state lighting market during the forecast period.

Some of the key players in the global solid state lighting market include Royal Philips Electronics N.V., Osram Licht AG, General Electric Company, Nichia Corporation, Seoul Semiconductor Co. Ltd., Cambridge Display Technology Ltd., Applied Materials, Inc., Mitsubishi Electric Corporation, Cree, Inc., and Eaton Corporation PLC.

The Asia Pacific is expected to remain a key market region for solid state lighting. The region holds the largest share of the market and is expected to register healthy growth over the forecast period. Some of the prominent facts that are contributing to the significant growth of the market include the presence of major solid-state lighting manufacturers in the region and supporting government policies to the less energy-consuming products. The Asia Pacific is witnessing significant growth of the industries in every sector where the requirement of solid-state lighting is always high hence with the growing need for solid-state lighting from several sectors within the region the key manufacturers get healthy demand from a local market.

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