Persistence Market Research, latest study on Solid State Lighting Market features a holistic view of the market size, market share, profit estimates, SWOT analysis and the regional landscape of the business. The report precisely expounds key challenges and future growth prospects of the market, while highlighting the current competitive scene and analyzes the expansion strategies adopted by leading market players.
Solid State Lighting Market: Introduction
Technological changes have led to a scenario where high heat generating and energy consuming illumination sources such as electrical filaments, plasma, gas etc. are replaced by less heat generating and energy consuming illumination sources such as light-emitting diodes (LEDs), organic light-emitting diodes (OLEDs), polymer light-emitting diodes (PLEDs) etc. Henceforth, lighting generation by making use of filament, gas etc. as a source have also witnessed a transition to LEDs, OLEDs etc. sources.
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Solid state lighting is a process of generating light by making use of semiconductor LEDs, OLEDs etc. as a source of illumination. Greater resistance to shocks & vibrations, enhanced quality light output, smaller & flexible lighting fixtures and longer life span of the product are some of the added advantages of solid state lighting over conventional brittle glass tubes/bulbs etc.
Solid State Lightings are widely adopted and used in traffic lights, train marker lights, remote controls, building exteriors, parking lot lights, vehicle lights etc. Initiations from government are also witnessed for the adoption of solid state lighting.
Solid State Lighting Market: Drivers and Challenges
A high adoption of LED, OLED, and PLED technology in replacement of filaments, gas etc. is expected to drive the overall growth of solid state lighting. The rate of replacement of light emission using filaments, gas etc, sources with LEDs, OLED, PLEDs etc., furthermore, justifies the growth of solid state lighting market. Global expansion of semiconductor industry simultaneously boosts the demand of solid state lighting, acting as a primary driver for the global solid state lighting market. Additionally, increasing applications of solid state lighting in various industries is driving the growth of Solid State Lighting market.
The primary factor hampering the growth of solid state lighting is its high costs. Additionally, the inefficiency of solid state lighting in heat sensitive applications also acts a restraint for solid state lighting market.
Solid State Lighting Market: Segmentation
Global Solid State Lighting Market can be segmented on the basis of Technology, and Industry Verticals.
Segmentation for Solid State Lighting Market by Technology:
On the basis of Technology, Solid State Lighting Market can be segmented as:
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Segmentation for Solid State Lighting Market by Industry Verticals:
On the basis of Industry Verticals, Solid State Lighting Market can be segmented as:
- Gaming and Entertainment
Commercial and Residential industry verticals are expected to witness higher growth when compared with other industries, owing to the increasing applications of solid state lighting in these segments.
Solid State Lighting Market: Key Players
Some of the key players of Solid State Lighting market are OSRAM GmbH, Philips Lighting Holding B.V., NICHIA CORPORATION, Semiconductor Co., Ltd., General Electric Company, Intematix Corporation, BRIGHT LIGHT SYSTEMS, INC., AIXTRON SE, Applied Materials, Inc. and Bridgelux, Inc.