Markets and Markets : Solid State Lighting Market worth $56.79 Billion by 2018
(M2 PressWIRE Via Acquire Media NewsEdge) According to a new market research report, "Solid State Lighting Market by Types (LED, OLED, and PLED), Application (General Lighting, Backlighting, Automotive, Medical), Verticals (Industrial, Residential, Consumer Electronics), Materials & Geography - Analysis & Forecast (2013-2018)", the total solid state lighting market is expected to reach $56.79billion by 2018, at a CAGR of 18.7% from 2013 to 2018.
Browse 113 market data tables and 51 figures spread through 365 pages and in-depth TOC on "Solid State Lighting Market by Types (LED, OLED, and PLED), Application (General Lighting, Backlighting, Automotive, Medical), Verticals (Industrial, Residential, Consumer Electronics), Materials & Geography - Analysis & Forecast (2013-2018)".
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The lighting industry has been witnessing a massive transformation since couple of years. Strong impetus from the government regulations and concerns of global environment and carbon emission factor has become of prime importance in lighting industry. Lighting technologies/devices manufacturers are coming up with the innovative technologies which include solid state lighting types such as: Light emitting diodes (LED), Organic light emitting diodes OLED and emerging lighting technology Polymer based light emitting diodes (PLED). Traditional lighting technologies such as incandescent lamps and halogen based lighting technologies were used to dominate the entire lighting market, but with recent developments in different areas of lighting characteristics and also due the requirement by different applications, newer lighting technologies were designed and developed with importance given on factors like energy savings, better luminance, long lasting life span, reduced carbon emission, higher efficiency/luminous efficacy. Major solid state lighting technologies were developed in view of green lighting solutions which included CFL, CCFL, and HID lighting technologies. But with the advent of semiconductor materials and technology, the materials are embedded into the single die, which are later processed at different stages which include packaged LED, LED module and LED luminaire. With increasing awareness of energy efficiency and consumption of energy across the globe by major verticals like residential & offices, industrial sector are adopting the solid state lighting technologies as per the SSL standards. The different SSL standards designed for different regions which includes RoHS (Restriction of Hazardous Substances), IEC (International Electrotechnical Commission), ANSI (American National Standards Institute), CIE (International Commission on Illumination) and EN. Many multinational companies such as Osram Licht AG (Germany), Nichia Corporation (Japan), Cree, Inc. (U.S.), Royal Philips Electronics N.V. (The Netherlands), Samsung LED, Co. Ltd. (South Korea), GE Lighting, Co. (U.S.) and LG Innotek, Co. Ltd. (South Korea) are investing more into acquisitions and R&D activities for more innovations and product development in solid state lighting products and technologies.
The report revolves around the different types of Solid State Lighting technologies. The paradigm shift of traditional lighting devices to highly energy efficient lighting technologies has resulted in adoption of modern and advanced technologies by global lighting market. This indicates for optimum level of energy efficiency in various applications such general lighting, backlighting, automotive lighting and other applications. Among the applications of solid state lighting market general lighting and backlighting are the major applications contributing 87% in 2012 worth $18.14 billion.
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Market dynamics of LED and OLED based solid state lighting market is provided in this report, which comprises of drivers, restraints, and opportunities of solid state lighting market. The driving factor for LED based SSL market include longer lifespan & lower energy consumption, efficient & robust design for better productivity and wide range of applications in next five years. Whereas for OLED based SSL market, better sense of natural lighting, illumination of large areas, edge over CFL lighting, use in limited space applications are the driving factor for next five years. The major restraints for LED market are high cost of installation; less efficient for heat sensitivity applications and unidirectional output whereas major restraint for OLED market includes high cost & limited lifespan and less light per area output. Commercial and residential lighting and the government regulations and frameworks are the key opportunities for solid state lighting market. This report also throws light on opportunities and winning imperatives for global solid state lighting market.
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