According to the new market research report "Solid-State Lighting & Fluorescent Lighting Market by Technology (LED, OLED, CFL), Type of Installation (New, Retrofit), Application (General Lighting, Backlighting, Automotive Lighting, Medical Lighting), Vertical, & Geography - Forecast to 2020", The solid-state lighting market size is projected to reach $22.2 Billion by 2020, growing at a CAGR of 7.31% from 2015 to 2020. The market size for fluorescent lighting is estimated to be $24.5 Billion by 2020, at a CAGR of -3.56% from 2015 to 2020.
Browse 78 market data tables and 82 figures spread through 199 pages and in-depth TOC on “Solid-State Lighting & Fluorescent Lighting Market - Forecast to 2020"
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The lighting market is expected to witness high growth, especially from the emerging SSL technology. General lighting would be the biggest application for SSL, whereas the automotive lighting application will experience highest growth during the forecast period. Long life, low energy consumption, efficient design which results into better productivity and increased brightness are some of the factors contributing towards the growth of the SSL technology. LEDs can last for nearly 8 to 10 years with 14 to 18 hours of daily use and they generate a pleasant light, which makes them well suited for ambient lighting.
In this report, drivers, restraints, opportunities, and challenges for lighting technologies have been covered. Major driving factors for this market are government initiatives and mandates, long life and low energy consumption, and efficient and robust design of LEDs for better productivity. Major restraints for this market are high costs involved. The figure below shows the estimated growth of the Solid-State Lighting Market between 2014 and 2020.
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SSL is an emerging technology with a high growth potential across several lighting applications including general lighting, automotive lighting, and medical lighting, among other applications. Earlier, LEDs were used for signage, traffic lights, and backlighting. With further research and development in the field of optoelectronics and the introduction of LEDs capable of emitting white light, more market opportunities have been created for SSL, particularly in general lighting and automotive lighting. The general lighting application accounted for the highest market share; automotive lighting is the fastest growing application for the SSL technology.
In the report, the SSL & FL market is segmented by technology, installation type, application, industry vertical, and geography covering all existing and emerging technologies in this market. The technology types of lighting include FL and SSL. SSL is further segmented into LED and OLED, whereas FL is segmented into LFL, CFL, and CCFL. The report provides the market analysis for the installation type of lighting namely, new installation and retrofit. This study also covers all major applications of lighting, such as, residential, commercial, educational, consumer electronics, industrial, medical, and transportation with qualitative as well as quantitative industry insights.
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One of the objectives of the report was to analyze the market trends for each of the segments and their respective growth rates. Apart from the market segmentation, the report also covers in-depth analyses such as the Porter’s five forces analysis, value chain with a detailed process flow diagram, and market dynamics such as drivers, restraints, opportunities, and challenges for the SSL & FL market. Major driving factors for this market are government initiatives and mandates, long life and low energy consumption, and efficient and robust design of LEDs for better productivity.
The market size for e SSL & FL in all four geographic regions, namely, North America, Europe, Asia-Pacific, and Rest of the World (RoW) has been included in the report. APAC is estimated to account for a large share in this market and will also exhibit the fastest growth during the forecast period.
Some of the major players in this market are Osram Licht AG (Germany), Royal Philips Electronics N.V (Netherlands), Nichia Corporation (Japan), General Electric Company (U.S.), and Seoul Semiconductor Co. Ltd (South Korea).
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