Global Solid State Lighting Market Size, Share, Development, Growth and Demand Forecast to 2024

  • Publishing: May 2021
  • Report Code: SE10239
  • Available Format: PDF

The global lighting market is anticipated to witness high growth in the coming years, especially from the emerging solid state lighting technology. Long life, efficient design and low energy consumption of light emitting diodes has resulted into better productivity and increased brightness, which are some of the factors contributing to the growth of solid state lighting technology. The features of  LED such as  pleasant light which makes them suitable for ambient lighting and their long life (8 to 10 years with 13 to 17 years of productive daily use), makes the solid state lighting market highly productive.

Lighting applications that use organic light-emitting diodes (OLEDs), light-emitting polymers or light-emitting diodes (LEDs) for illumination are usually referred as solid-state lighting (SSL). Solid-state lighting consists of semiconductors that convert electricity into light, unlike fluorescent or incandescent lamps, which create light with filaments and gases enclosed in a glass bulb.

The global solid state lighting market can be segmented on the basis of technology, installation, application, and end-users. On the basis of technology, the solid state lighting can be divided into light emitting diode (LED) and organic light emitting diode (OLED). On the basis of installation, the solid state lighting can be segmented into new installation and retrofit. Based on application, the market can be categorized into automotive lighting, medical lighting, general lighting, backlighting, and others. On the basis of end-users, the market is segmented into residential, industrial, educational, medical, transportation, consumer electronics, and commercial industries. The general lighting segment dominates the global solid state lighting market, however the automotive lighting application is expected to experience significant growth in the near future.

Earlier, LEDs were used in traffic lights, signage, and automotive backlights. With further research and development in the field of optoelectronics and the development of LEDs capable of emitting white light, new market opportunities are being created for solid state lighting, particularly in automotive lighting and general lighting. The high efficiency of solid state lighting is another major factor driving the growth of the market. Unlike incandescent and fluorescent lighting, solid-state lighting devices have the capability to achieve electrical-to-optical power conversion efficiencies of approximately 76% at infrared wavelengths. Various discharges such as electricity to heat and electricity to gas discharges limit the efficiency of fluorescent and incandescent lighting, which motivates the users to switch to solid state lighting and efficiently manage losses. Solid-state lighting technology has transformed the global lighting industry. The solid state lighting technology provides reduced maintenance and lower energy consumption.

Technological developments in the last decade have increased the application of light emitting diodes in exit signs and traffic lights, and in certain partial illumination applications, such as flashlights. The lighting research center is working on the technical developments to provide a bright future of the solid state lighting technology and further extending the technology to be used in homes and commercial areas.

One of the major restraints in the solid state lighting market is the high cost of solid state lighting products. The prices of solid state lighting are significantly higher than conventional lighting sources.

The major competitors in the global solid state lighting market are OSRAM Licht AG, Koninklijke Philips N.V., NICHIA CORPORATION, GENERAL ELECTRIC, Bridgelux, Inc., CITIZEN ELECTRONICS CO., LTD, Acuity Brands Lighting, Inc, LED ENGIN, INC. Energy Focus, and Seoul Semiconductor Co., Ltd.


Report Coverage

  • Provides comprehensive understanding of the market with the help of informed market outlook, opportunities, challenges, trends, size and growth, competitive analysis, major competitors and Porter analysis
  • Identifies the key drivers of growth and challenges of the key industry players. Also, assesses the future impact of the propellants and restraints on the market
  • Uncovers potential demands in the market
  • Porter analysis identifies competitive forces within the market
  • Provides information on the historical and current market size and the future potential of the market
  • Provides sizes of key regional markets using yardsticks of processes, segments, products, end user and technology, etc (as applicable)
  • Highlights the competitive scenario of the market, major competitors, market share, benchmarking, investments and merger acquisitions
  • Provides profiles of major competitors of the market including details of their operations, product and services, recent developments and key financial metrics. Profiles provide better understanding of competition as well as the demands of the market.
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