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 - Analysis & Forecast (2013-2018)”.
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The different applications of solid state lighting market are segmented by lighting, backlighting, automotive lighting, medical lighting and others. These applications are deployed in different end-users lightings as per their need and requirement.
In western countries, especially from, Europe and North America region, prefer green lighting solutions and LED based SSL compared to the traditional lighting technologies such as incandescent lamps and high intensity discharge lighting or any other lighting devices, as they are more energy saving. The developed countries pursue green lighting for better conducive green environment and; hence, this is the main driver for the SSL industry.
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OLED’s has high market share in backlighting applications. Demand for OLED display has been accelerating as it has diverse applications and better display features. Going forward, with decreasing production costs, prices of OLED panels will decline and OLED will further penetrate the display market displacing LCD and LED display technologies. Many Asian companies have geared up to emerge as dominant players in the OLED equipment and materials market. The OLED based SSL is set to be one of the major Solid State Lighting technology in future with CAGR projected to exceed 25% in major applications such as general lighting, backlighting, automotive lighting and medical lighting.
Global solid state lighting market is expected to reach $56.79billion by 2018, at an estimated CAGR of 18.7% from 2013 to 2018 with backlighting and general lighting application contributing to the global solid state lighting applications market with a share of 87% in 2012 and is expected to record high growth in coming years. APAC is the leading region in the overall solid state lighting market with 50% of market share in 2012; followed by North America and Europe with 23.9% and 19.9% each in 2012. In ROW, Russia, Brazil and the Middle East are the largest contributors with total share of 6.3% occupied in global solid state lighting market.
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