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)", published by MarketsandMarkets, the total solid state lighting market is expected to reach $56.79 billion 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 - Analysis & Forecast (2013-2018)".
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The global Solid State Lighting Market has been segmented by types of SSL, applications and verticals. The Solid State Lighting Market by types includes Light emitting diodes (LED), Organic light emitting diodes (OLED) and Polymer based light emitting diodes (PLED). The SSL based LED's are further segmented by materials used at different stages of manufacturing process in the report. LED based SSL are primarily utilized in general lighting and backlighting based applications. Energy efficient characteristics of the SSL lighting technologies will be integrated with light based medical applications. Surgical lighting has incorporated low heat dissipating LEDs enabling comfortable working environment for surgeons and patients.
Light emitting diodes (LEDs) are semiconductors that convert electricity into light through the movement of electrons. The earlier applications of LED included the indicators on hi-fi systems (such as routers, switches), standby lights on television, indicators for operation on adaptors, and other electronic equipment. LED has evolved as a major lighting technology with a longer life; and greater durability, flexibility, energy-efficiency, and non-toxicity than other lighting solutions. There are three different types of LED’s; namely miniature LED, high-brightness LED, and ultra-violet LED (UV-LED). These LEDs find use in different applications depending upon the power factor, which is categorized as high powered, low powered, and medium powered. The various LED fabrication processes include metal organic chemical vapor deposition, molecular beam epitaxy, liquid phase epitaxy, and vapor phase epitaxy. The major applications in which LEDs find their use are: - general lighting, automotive lighting and backlighting.
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The Solid State Lighting Market has transcended from traditional lighting technologies such as CFL and CCFL to LED lighting. The rapidly decreasing shares of the conventional lighting products still existing in the market are creating huge opportunities for the manufacturers of emerging lighting products.
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.
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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Global SolidState 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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