Solid State Lighting Market Outlook to 2025 with Key Players - Osram Licht AG, Nichia Corporation, General Electric Company, Royal Philips Electronics N.V., Seoul Semiconductor, Applied Materials, Cambridge Display Technology, Mitsubishi Electric Corporat
Compared to the conventional lighting technologies such as incandescent lamps, the solid state lighting products provide higher output with lesser amount of energy. Incandescent lamps failed in optimum conversion of electrical energy into light, and SSL overcomes this issue. Additionally, high durability (5 to 8 years) of SSL products is another advantageous feature which is expected to boost the adoption of SSL products during the forecast period.
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Furthermore, lower maintenance costs, reduced size, versatility, and high energy efficiency of SSL products when compared to other conventional products, is expected to propel the global solid state lighting market during the forecast period. The solid state lighting product are designed to reduce the biological impacts, thereby prompting their use across the globe. Also, improved optical distribution of light in SSL products, significantly reduces the light wastage/scattering, and therefore produces better illumination.
Reduction in amount of manufacturing material (such as aluminum) for SSL products lowers the manufacturing cost and time, thereby serving as a key opportunity area for the SSL vendors globally. Furthermore, the expected implementation of SSL, owing to enhanced color stability and lumen proficiency, within several lighting applications including automotive lighting, general lighting, and medical lighting, is analyzed to promise significant growth within the global solid state lighting market.
The high initial cost of SSL products hinders the global solid state lighting market. Additionally, poor efficiency of SSL products in heat sensitive applications further restricts the global solid state lighting market.
The solid state lighting market has been segmented on the basis of technology into light-emitting diodes (LED) and organic light-emitting diodes (OLED). The SSL market has been further segmented based on applications, namely: general lighting, automotive lighting, electronic billboards, backlighting, and medical lighting.
On the basis of installation type, the global solid state lighting market has been fragmented into new installation and retrofit. Additionally, the global solid state lighting market has been further segmented by end-user industry verticals into residential, education & research, healthcare, commercial, industrial, consumer electronics, and automotive & transportation.
Asia Pacific (APAC) is observed as the largest pool for global solid state lightning market owing to availability of cheap labor and low manufacturing costs. In addition, North America leads the global solid state lighting market owing to a significant implementation of SSL technology in lightning products.
In addition, governments of developed regions such as the North America and Europe, are planning to ban incandescent bulbs and increase adoption of energy-efficient and eco-friendly technologies for illumination, thereby further expected to bolster the global solid state lighting market In South America (SAM), Brazil is expected to be is largest contributor to global solid state lightning market due to rapid infrastructural development propelling employment of large amount of SSL products.
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Some of the key players operating within the global solid state lighting market include Osram Licht AG, Nichia Corporation, General Electric Company, Royal Philips Electronics N.V., Seoul Semiconductor Co. Ltd., Applied Materials, Inc., Cambridge Display Technology Ltd., Mitsubishi Electric Corporation, Cree, Inc., Eaton Corporation PLC., Lumenpulse Inc., Energy Focus, Inc., Samsung Electronics Co. Ltd., and Tridonic Gmbh & Co. KG among others.
- Osram Licht AG
- Nichia Corporation
- General Electric Company
- Royal Philips Electronics N.V.
- Seoul Semiconductor Co. Ltd.
- Applied Materials, Inc.
- Cambridge Display Technology Ltd.
- Mitsubishi Electric Corporation
- Cree, Inc.
- Eaton Corporation PLC.
- Lumenpulse Inc.
Reason to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Solid State Lighting Market
- Highlights key business priorities in order to assist companies to realign their business strategies.
- The key findings and recommendations highlight crucial progressive industry trends in the Solid State Lighting Market, thereby allowing players to develop effective long term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
- Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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