Rising Demand For Energy-Efficient Lighting Fuels The Solid-State Lighting Market Growth: A Key Driver Powering Solid State Lighting Market Growth In 2025

The Solid State Lighting Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Current Solid State Lighting Market Size and Its Estimated Growth Rate?
In recent years, the size of the solid state lighting market has seen a swift expansion. The market, which is projected to escalate from $44.97 billion in 2024 to $50.09 billion in 2025, is expected to experience a compound annual growth rate (CAGR) of 11.4%. The notable growth during the historic period can be linked to factors such as the amplified use of solid-state lighting, industrial growth spike, increase in disposable income, and stepped-up government initiatives.

The solid state lighting market's size is predicted to experience a swift expansion in the upcoming years. The market is projected to increase to $76.04 billion by 2029, with a compound annual growth rate (CAGR) of 11.0%. The projected growth can be linked to the escalating demand for energy-friendly lighting, the surge in demand for energy-saving lighting alternatives, the heightened demand for eco-conscious lighting solutions, and burgeoning industry consortiums backed by government. The anticipated period is expected to witness major trends including technological innovation, prioritizing human-centric lighting, the incorporation of mini-LED and micro-LED, horticultural lighting, and silicon-based LED technology.

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How Are Emerging Segments Shaping the Solid State Lighting Market Landscape?
The solid state lighting market covered in this report is segmented -

1) By Type: Light Emitting Diode (LED), Organic Light Emitting Diode (OLED), Polymer Light Emitting Diode (PLED)
2) By Installation Type: New Installation, Retrofit
3) By Applications: Indoor Lighting, Outdoor Lighting, Specialty Lighting
4) By Industry Vertical: Residential, Industrial And Commercial, Medical, Transportation, Other Industry Vertical

Subsegments:
1) By Light Emitting Diode (LED): High-Power LEDs, Mid-Power LEDs, Low-Power LEDs, High-Brightness LEDs
2) By Organic Light Emitting Diode (OLED): OLED Panels, OLED Lighting Fixtures, Flexible OLEDs, Transparent OLEDs
3) By Polymer Light Emitting Diode (PLED): PLED Displays, PLED Lighting Solutions, Flexible PLEDs, Active Matrix PLEDs

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Which Growth Factors Are Influencing Solid State Lighting Market Expansion?
The solid-state lighting market is set to expand due to the rising demand for energy-efficient lighting. Such lighting solutions, which provide equivalent illumination to traditional lighting while consuming less energy, can reduce greenhouse gas emissions and help combat climate change by diminishing electricity use. LED technology, an integral part of solid-state lighting, boasts superior energy efficiency compared to conventional lighting. As a result, it's gaining traction among both residential and commercial clients who wish to meet regulatory standards and decrease their power consumption. For example, in September 2022, the International Energy Agency, a France-based intergovernmental organization, reported that LED sales in the residential sector have seen a major boost globally in recent years, with the figure hitting about 50% in 2022. By 2025, the plan is for LED lighting to represent 100% of sales. Furthermore, newer LED models are projected to improve their efficiency by roughly 30% by 2030, aligning with the Net Zero scenario. As a consequence, the surge in demand for energy-efficient lighting is fueling the solid-state lighting market's expansion.

Who Are the Dominant Players Across Different Solid State Lighting Market Segments?
Major companies operating in the solid state lighting market report are Samsung Electronics Co. Ltd; General Electric Company; Panasonic Holdings Corporation; Mitsubishi Electric Pvt. Ltd.; Toshiba Corporation; Everlight Electronics Co. Ltd.; Koninklijke Philips N.V.; Signify Holding B.V.; Energy Focus Inc.; OSRAM GmbH; Hubbell Incorporated; Acuity Brands Inc; Stanley Electric Co.; Zumtobel Group; Seoul Semiconductor Co. Ltd.; Cree LED; Lumileds Holding B.V.; Cooper Lighting LLC; Bridgelux Inc.; TCP Lighting; Sanken Electric Co. Ltd.; Intematix Corporation; Seoul Viosys Co. Ltd.; Phoenix Products LLC; Nichia Corporation

What Solid State Lighting Market Trends Are Gaining Traction Across Different Segments?
Companies that are leading in the solid-state lighting industry are concentrating on developing innovative materials, designs, and production procedures, leading to more advanced LED technologies, such as chip-scale LEDs, to enhance lighting conditions and broaden their market scope and potential sales prospects. A chip-scale LED, a kind of white LED package, accomplishes a flat light output specially designed to address the problems of rough-emitting surfaces and non-optimal illumination patterns found in conventional LED lighting systems. For example, Nichia Corporation, a Japan-based firm that focuses on manufacturing and distributing light-emitting diodes, introduced NFSWL11A-D6 in January 2024. This inventive product allows lighting fixtures to be slimmer and lighter, conserving resources used in fixture design and construction materials. Moreover, the uniform horizontal light it emits creates a gentle, low-glare light that covers the entire space, offering new design possibilities for lighting fixtures and bringing additional value to solid-state lighting by saving resources and improving building safety.

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Which Geographic Regions Are Expected to Dominate the Solid State Lighting Market in the Coming Years?
Asia-Pacific was the largest region in the solid state lighting market in 2024. The regions covered in solid-state lighting report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Solid State Lighting Market?
2. What is the CAGR expected in the Solid State Lighting Market?
3. What Are the Key Innovations Transforming the Solid State Lighting Industry?
4. Which Region Is Leading the Solid State Lighting Market?

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