Solid State Lighting Market Growth, Top Manufacturers, and Business Opportunities by 2027

Allied Market Research published a report on the Solid State Lighting Market by Type (Light Emitting Diodes (LED), Organic Light Emitting Diodes (OLED), and Polymer Light Emitting Diodes (PLED)), Installation Type (New Installation and Retrofit), and Application (Indoor Lighting, Outdoor Lighting, and Specialty Lighting), and Industry Vertical (Residential, Industrial and Commercial, Medical, Transportation, Others): Global Opportunity Analysis and Industry Forecast, 2020-2027.

The global solid state lighting market was valued at $32.65 billion in 2019 and is projected to reach $74.25 billion by 2027, registering a CAGR of 12.2% from 2020 to 2027.

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The research report presents a complete judgment of the solid state lighting market trends, growth factors, consumption, production volume, CAGR value, attentive opinions, profit margin, price, and industry-validated market data. The report also contains information and statistics, tables and figures that are used in strategic planning for the company's success. Also, these research report provides accurate economic, global, and country-level predictions and analysis.

Also, the research provides a clear picture of the market's current needs and future prospects. The research study gives a 360-degree overview of the overall market environment by supplying details on the solid state lighting market size and share analysis, market dynamics, segmental & regional analysis, top investment pockets, competition landscape, market drivers, restraints, and opportunities.

These report is a useful resource for businesses, investors, shareholders and new entrants to gain an in-depth understanding of the market and make informed decisions and settle on educated business choices based on their business goals. Businesses can evaluate the Porter's Five Forces Analysis to determine the structure, level of competition, and industry's strengths and weaknesses. The report will be remarkable in its ability to provide worldwide investors with the information they need to make informed judgments about the solid state lighting market.

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Competitive Analysis:

Some of the prominent players of the global solid state lighting market include,

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

These solid state lighting industry players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market's strengths, product portfolio, market size and share analysis, operational results, and market positioning. Mergers and acquisitions, joint ventures, and product launches are some of the other techniques used by players.

Research Methodology:

The research uses both primary and secondary research to assemble data on the various facets of the international solid state lighting market. Using interviews or surveys, primary market research has been used to collect highly authenticated data from direct sources, such as consumers in a particular market. Secondary market research is a method for gathering information from previously released data that has been produced by international organizations, business groups, government and research institutions, and so on.

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By Regional Analysis:

1) North America (Canada, Mexico, and the United States)

2) Europe (France, Italy, Germany, Spain, the United Kingdom, and rest of Europe)

3) Asia-Pacific (Australia, Japan, South Korea, China, India, and rest of Asia-Pacific)

4) LAMEA (Africa, the Middle East, and Latin America)

Key findings of the study

In 2019, the LED segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 11.9% during the forecast period.

The indoor and outdoor lighting segments together accounted for around 70.0 % of the solid state lighting market share in 2019.

The industrial and commercial segment contributed major share of 40.0% in the during 2019.

China was the major shareholder in the Asia-Pacific solid state lighting market, accounting for more than 15.0% share in 2019.

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