Solid State Lighting System Market by 2027: Regional Analysis, Recent Updates and Prominent Players

Lighting systems that use light-emitting diodes (LEDs), organic light-emitting diodes (OLEDs), or light-emitting polymers are commonly known as solid-state lighting (SSL). SSL lightings are quite different from incandescent or fluorescent lamps because unlike the latter, which uses filaments and gases encases in bulbs to create light, SSL uses semiconductors that convert electricity into light. Solid state lighting, the use of LEDs and OLEDs for general lighting, is a promising technology with high growth potential across the world.

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The lighting industries shift to solid-state lighting is to support and accelerate the technological move to higher levels of efficiency and quality. The rise in growth of the market is due to increase in demand for eco-friendly and energy-saving lighting technology. The SSLs provide more brightness and efficiency and lesser power consumptions as compared to traditional lighting systems. Their robust weather proof design added to the intrinsic safety fuel the demand for solid state lighting system. However, the absence of standards, both for testing and for final products leading to issues in quality of the SSLs considerably restrict the market growth.

The solid-state lighting system market is segmented based on technology, offering, application, and geography. On the basis of technology, the market is classified into LED and OLED. Based on offering, it is divided into hardware, software, and services. Applications covered in the study include general lighting, backlighting, automotive lighting, and others. Based on geography, the market is as analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players operating in the market include Energy Focus Inc., Osram Licht AG, Royal Philips Electronics N.V., Nichia Corporation, General Electric Company, Seoul Semiconductor Co. Ltd., Toshiba Corporation, Cree, Inc., Samsung Electronics Co., Ltd., and, Sharp Corporation.

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Key Benefits
o The study provides an in-depth analysis of the solid-state lighting system market with current and future trends to elucidate the imminent investment pockets in the market.
o The report provides information about the key drivers, restraints, and opportunities with impact analysis.
o Quantitative analysis of the current trends and future estimations from 2020 to 2027 are provided to showcase the financial competence of the market.
o Porters Five Forces model analysis of the industry illustrates the potency of the buyers and suppliers participating in the market.

Solid State Lighting System Market Segmentation:
By Technology
o LED
o OLED

By Offering
o Hardware
o Software
o Services

By Application
o General Lighting
o Backlighting
o Automotive Lighting
o Others

By Geography
o North America
o Europe
o Asia-Pacific
o LAMEA

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Key Players
o Energy Focus Inc.
o Osram Licht AG
o Royal Philips Electronics N.V.
o Nichia Corporation
o General Electric Company
o Seoul Semiconductor Co. Ltd.
o Toshiba Corporation
o Cree, Inc.
o Samsung Electronics Co., Ltd.
o Sharp Corporation

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