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Published Date: 2017-07-06Number of Pages: 243

Solid State Lighting Market (Sector - Residential, Commercial, Industrial, and Outdoor Lighting; Technology - Light Emitting Diodes (LED) and Organic Light Emitting Diodes (OLED); End User - Conventional Lighting, Consumer Electronics, Automotive & Transport, Healthcare, and Media & Entertainment) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025

Global Solid State Lighting Market: Snapshot

The global solid state lighting market is progressive despite its nascent state. The increasing demand for energy efficient lighting technologies that conform to high durability and improved productivity stipulations for reducing greenhouse gases is the key factor driving growth of this market. The trend is notable in developing economies that are witnessing rapid industrialization and urbanization and are being responsible to adopt energy efficient technologies to reduce emissions that are detrimental to the planet.

Apart from this, the increasing acceptance of LED lighting solutions in the residential sector for energy efficiency and cost effectiveness is also driving adoption of solid state lighting solutions.

The shift of manufacturing to Asia Pacific on account of its rising technical expertise and favorable cost structure is stoking demand for solid state lighting solutions. The integration of Internet of Things with solid state lighting is a strong driver of this growth of this market.

As per a report by Transparency Market Research, the global solid state lighting market, which stood at US$14.48 bn in 2016 is expected to be worth US$30.38 bn by 2025, rising at a CAGR of 8.7% between 2017 and 2025.

 

solid state lighting market

 

Energy Efficiency Drives up Demand for LED Lighting Solutions

The global solid state lighting market is classified into residential, commercial, industrial, and outdoor lighting depending on sector. The commercial sector segment dominated the solid state lighting market in 2016 and is likely to stay dominant over the forecast period.

In terms of technology, the solid state lighting market is divided into LED, OLED, and others. LED, among them, is expected to hold a significant share over other segments vis-à-vis growth in the solid state lighting market because of the rising popularity of LED lighting solutions across all sectors of the economy.

By end-user, the segments of the solid state lighting market are conventional lighting, consumer electronics, automotive and transport, healthcare, media and entertainment, and others. The segment of automotive and transport is expected to clock considerable growth in the forthcoming years on account of introduction of new and efficient forms of lighting technology.

Smart Cities Developmental Projects Ramps up Asia Pacific Market

From a geographical standpoint, the segments into which the global solid state lighting market is divided are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. North America, among these, stood as a key market for solid state lighting in 2016 and it is expected to hold a decent share during the forecast period. The region accounts for significant contribution to the global market as it is home to several top vendors for solid state lighting solutions.

Europe is also expected to hold a significant position in the market over the forecast period. The growth of this regional market is backed by the advancement of the healthcare sector, which displays a high demand for solid state lighting for medical lighting needs. Apart from this, growth of the outdoor lighting segment due to changing lifestyle and increasing purchasing power is stoking growth of this regional market.

Holding 40% of the market in 2016, Asia Pacific stood as an attractive market for solid state lighting. The region is expected to continue its dominance over the forecast period. The growth of this regional market is backed by government initiatives for the development of smart cities.

Leading players operating in the global solid state lighting market include General Electric, Samsung Electronics Co. Ltd., Panasonic Corporation, OSRAM Licht Group, Mitsubishi Electric Corporation, Eaton Corporation, NICHI Corporation, Koninklijke Philips N.V., Seoul Semiconductor Co. Ltd., and Applied Materials Inc.

Global Solid State Lighting Market: Overview

The report covers the analysis and forecast of the solid state lighting market on a global and regional level. The study offers historic data of 2016 along with the prediction for the period between 2017 and 2025 based on revenue (US$ Bn).

The study provides a complete view of the solid state lighting market by segmenting it based on sector, technology and end-user. By sector, the solid state lighting market is segmented into residential, commercial, industrial and outdoor lighting. On the basis of technology, the solid state lighting market is segmented into LED, OLED and others. By end-user, the solid state lighting market is segregated into conventional lighting, consumer electronics, automotive & transport, healthcare, media & entertainment and other type of end-user such as logistics & warehouses, defense, e-commerce, and other related industries.

The competitive reporting of the important players in the global solid state lighting market across five broad geographic regions is included in the study. These include diverse business strategies adopted by the principal players and their recent developments as in the field of solid state lighting.

Global Solid State Lighting Market: Scope of Study

A complete analysis of the market dynamics that is inclusive of market drivers, restraints and opportunities is included in the purview of the report. Additionally, the report includes potential opportunities in the solid state lighting market on the global and regional level. Market dynamics are the factors which impact the market growth, thereby helping to understand the ongoing trends of the global market. Therefore, the report provides the forecast of the global market for the period from 2017 to 2025, along with offering an inclusive study of the solid state lighting market.

The report provides the size of the solid state lighting market in 2016 and the forecast for the next nine years up to 2025. The size of the global solid state lighting market is provided in terms of revenue. Market revenue is defined in US$ Bn. The market size and forecast for each sector, technology and end-user segment are provided in the context of global and regional markets. Numbers provided in this report are derived based on demand generated from different applications. Market dynamics prevalent in North America, Europe and Asia-Pacific have been taken into account for estimating the growth of the global market.

Global Solid State Lighting Market: Market Dynamics

Demand for solid state lighting has been derived by analyzing the global and regional demand for solid state lighting in each end-user industries for its respective functions. The global solid state lighting market has been analyzed based on expected demand. Forecasts have been based on the expected demand from solid state lighting end-user industries. We have used the bottom-up approach to estimate the global revenue of solid state lighting market, split into regions. Based on end-user industries, we have summed up the individual revenues from all the regions to achieve the global revenue for solid state lighting. The end-user industries split of the market has been derived using a bottom-up approach for each regional market separately, with the global application segment split being an integration of regional estimates. In the absence of specific data related to the sales of solid state lighting of several privately held companies, calculated assumptions have been made in view of the company’s product portfolio and regional presence along with the demand for products in its portfolio.

Regional breakdown comprises the present and forecast demand for North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. These have been further sub-segmented into countries and regions with relevance to the market. The segmentation also includes demand for solid state lighting across sectors and end-user industries.

Global Solid State Lighting Market: Competitive Landscape

Key players in the solid state lighting market are General Electric, Samsung Electronics Co. Ltd., Panasonic Corporation, OSRAM Licht Group, Mitsubishi Electric Corporation, Eaton Corporation, NICHIA Corporation, Koninklijke Philips N.V., Seoul Semiconductor Co. Ltd. and Applied Materials, Inc.

The market has been segmented as follows:

Global Solid State Lighting Market: By Geography

  • North America
    • U.S.
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Middle East and Africa
    • U.A.E
    • South Africa
    • Rest of Middle East and Africa
  • Latin America
    • Brazil
    • Rest of Latin America

Global Solid State Lighting Market: By Sector

  • Residential
  • Commercial
  • Industrial
  • Outdoor Lighting

Global Solid State Lighting Market: By Technology

  • LED
  • OLED
  • Others

Global Solid State Lighting Market: By End-User

  • Conventional Lighting
  • Consumer Electronics
  • Automotive & Transport
  • Healthcare
  • Media & Entertainment
  • Others


 
 
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