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Solid State Lighting Market By Technology, Forecasts and Top Key Players: Bridgelux, Inc., Mitsubishi Electric Corporation, Nichia America Corporation, Eaton, GE, Samsung Electronics, OSRAM, Molex, Coolon LED Lighting, Philips Lighting, Veeco, TSMC

03-06-2019 06:58 AM CET | Industry, Real Estate & Construction

Press release from: Global Market Insights, Inc.

Solid State Lighting Market

Solid State Lighting Market

According to a new research report by Global Market Insights, Inc., Global Solid State Lighting Market size is set to surpass USD 85 billion by 2024. Rapid urbanization & industrialization primarily in Malaysia, and China have increased the focus on energy-efficient lighting to reduce GHG emissions and improve bulbs life may contribute to solid state lighting market demand. These products provide high energy efficiency and less heat generation as compared to incandescent lamps thereby leading to reduction in carbon emissions. The implementation of solid state lighting technology may reduce global lighting CO2 emissions by approximately 1,500 million tons thereby stimulating market growth.

Request for a sample of this research report @ www.gminsights.com/request-sample/detail/2775

Increasing product demand for automotive applications owing to smaller device size, aesthetic appeal and stringent regulations is predicted to accelerate growth of solid state lighting market size. In addition, increasing LED applications in indicator lighting products such as signals and signages may further stimulate market growth. Also, economic growth in Thailand, Malaysia and Indonesia coupled with population rise is estimated to boost the automotive sector, further stimulating the SSL product demand. Global automotive market is expected to surpass USD 5 trillion by 2024 which represents tremendous growth potential for solid state lighting market.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Bridgelux, Inc.
2. Mitsubishi Electric Corporation
3. Nichia America Corporation
4. Eaton
5. GE
6. Samsung Electronics
7. OSRAM
8. Molex
9. Coolon LED Lighting
10. Philips Lighting
11. Veeco
12. TSMC

Global LED-based solid state lighting market is poised to surpass USD 80 billion by 2024 pertaining to their low power consumption and rising demand for high brightness LEDs. These products are used in panel indicators, automotive lamps and large display screens which may boost solid state lighting market size. Government has mandated various laws or policies regarding product utility and implementation of tariffs of LED component import catering to the domestic market, may stimulate industry growth.

Make an inquiry for buying this report @ www.gminsights.com/inquiry-before-buying/2775

North America solid state lighting market size driven by Mexico, Canada and the U.S. may witness substantial gains at over 11.5% during the forecast timeframe. Reduction in manufacturing cost and rising horticultural applications for plant ignition is likely to stimulate product demand. Moreover, this region is witnessing a rise in the local assembly of SSL products and increasing demand for industrial & commercial LED products such as tunnel, high-bay, panel and troffer lights which in turn may boost regional industry growth.

Elaborating further, the project explored the advantages that smart human-centric lighting can have for urban dwellers and how these systems can align with the goals of a city to become more sustainable in the long run. Needless to mention, the implementation of such pioneering initiatives would have an optimistic influence on the Europe solid state lighting industry share.

Asia Pacific solid state lighting market driven by China, India, South Korea and Japan should register significant gains above 12% over the projected timeframe. Rising IoT adoption for smart city projects coupled with government endorsement of energy-efficient lights to minimize energy costs and smart city development projects may stimulate product demand in the region.

China OLED based solid state lighting market revenue from architectural applications may witness significant gains over the foreseeable timeframe. They are mainly used for decoration purpose, buildings structure illumination and signage backlighting owing to its diffused output and low luminance.

Browse key industry insights spread across 530 pages with 1284 market data tables & 35 figures & charts from the report, Solid State Lighting Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/solid-state-lighting-market

Owing to the global drift toward energy efficiency and improved energy consumption practices, the solid state lighting market has emerged as one of the most profitable niche verticals of the sustainable and smart technologies industry. Solid state lighting (SSL) technology is ten times more efficient than incandescent lighting and twice as efficient as fluorescent lighting. Moreover, the SSL technology has witnessed drastic enhancements in the recent times which has resulted in the SSL-based lighting sources such as LED and OLED become a vital component in the affordable high-performance buildings. Additionally, the increasing usage of SSL technology in automotive sector has impelled the solid state lighting market share.

Global LED-based SSL market size is poised to surpass USD 80 billion by 2024 pertaining to their low power consumption and rising demand for high brightness LEDs. These products are used in panel indicators, automotive lamps and large display screens which may boost solid state lighting market size. Government has mandated various laws or policies regarding product utility and implementation of tariffs of LED component import catering to the domestic market, may stimulate industry growth.

Rising demand for energy efficient lamps primarily for residential applications on account of increasing conventional bulbs replacement may stimulate solid state lighting market size. These products have lower energy consumption, longer life and less space requirements which increases their suitability for lighting applications. SSL technology comprises of various products such as lamps, luminaires, high & low-bay lights, flood & downlights and under-cabinet lamps providing benefits such as high thermal management, optimized lumen production and cost efficiency which may further boost industry growth.

Global solid state lighting market share is moderately fragmented with major industry players such as ETi Solid State Lighting, Inc., Solid State Luminaires, Green Rock Lightning, TSMC, Veeco, ARC Solid-State Lighting Corporation, Cireon, LLC, Sasaki Associates, Inc., FC | SSL Lighting - US Commercial Lighting Manufacturer, Philips Lighting, MSi,Coolon LED Lighting, Molex, OSRAM, nTact, Samsung Electronics, GE, Eaton, Nichia America Corporation, Mitsubishi Electric Corporation, and Bridgelux, Inc.

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

Contact Us

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: www.gminsights.com
Blog: www.industry-source.org

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