Global Solid State Lighting Market Industry Future Demand, Market Analysis and Outlook to 2023
Solid State Lighting Market is further estimated to grow at a CAGR of 5.96% from 2018 to 2023 to reach USD 29.67 Billion by the year 2023.
(EMAILWIRE.COM, June 22, 2018 ) GLOBAL SOLID STATE AND OTHER ENERGY-EFFICIENT LIGHTING MARKET was valued at USD 126.76 Billion in the year 2017. Solid State Lighting Market is further estimated to grow at a CAGR of 5.96% from 2018 to 2023 to reach USD 29.67 Billion by the year 2023. Asia Pacific region holds the highest market share in 2017 with European region is considered as the fastest growing market in the forecasted period. At a country level, South Korea is the biggest market in 2017 and it is projected to grow at a gradual pace in the coming years.
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Samsung Electronics (South Korea), General Electric (U.S.) and Panasonic (Japan) are some of the key manufacturers in the Solid State And Other Energy-Efficient Lighting Market with Samsung Electronics holding the substantial market share because of its better global presence both at production and at an operational level. Rising research and development expenses to cater changing demand of end users, similarly growth strategies such as acquisition, merger and expansion of the distribution network were adopted by most of the top manufacturers in last 5 years.
Drivers:
Grants provided by governments of different Asian countries for production
Restraints:
Not effective in the use of heat sensitive applications
Opportunities:
Innovations & developments in automotive sector
Challenges:
Balancing demand and supply of each segment
The commercial segment is expected to hold the highest market share during the forecast period. With the increasing number of smartphone user, there is a demand for advanced technology in the display market. The Governments of different countries are helping the local manufacturers by providing them resources. Thus, Solid State and Other Energy-Efficient lighting market has a strong potential across the major countries.
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On the other hand, the automotive sector is expected to grow at the highest CAGR during the year 2018-2023. Solid state lightings are being used in the lights of some top automotive manufacturers. It is predicted that OLEDs will be used in the interiors of the cars in the coming years.
Key Benefits for Stakeholders
Solid State and Other Energy-Efficient Lighting Manufacturers, Distributors and Retailers
Raw material and equipment suppliers
Technology Standards Organizations, Forums, Alliances and Associations
End use industries
Government bodies
By Sector
Commercial Sector
Residential Sector
Industrial Sector
Others
By Technology
Solid-State Lighting
-LEDs
-OLEDs
Fluorescent Lighting
-LFL
-CFL
-CCFL
By Application
General Lighting
Automotive Lighting
Medical Lighting
Others
By Region
North America
Europe
Asia-Pacific
ROW
Key Market Players
General Electric Company
OSRAM Light AG
Panasonic Corporation
Mitsubishi Electric Corporation
Koninklijke Philips N.V.
Eaton Corporation PLC
Samsung Electronics Co. Ltd.
Honeywell International, Inc.
Nichia Corporation
Acuity Brands Lighting, Inc.
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Samsung Electronics (South Korea), General Electric (U.S.) and Panasonic (Japan) are some of the key manufacturers in the Solid State And Other Energy-Efficient Lighting Market with Samsung Electronics holding the substantial market share because of its better global presence both at production and at an operational level. Rising research and development expenses to cater changing demand of end users, similarly growth strategies such as acquisition, merger and expansion of the distribution network were adopted by most of the top manufacturers in last 5 years.
Drivers:
Grants provided by governments of different Asian countries for production
Restraints:
Not effective in the use of heat sensitive applications
Opportunities:
Innovations & developments in automotive sector
Challenges:
Balancing demand and supply of each segment
The commercial segment is expected to hold the highest market share during the forecast period. With the increasing number of smartphone user, there is a demand for advanced technology in the display market. The Governments of different countries are helping the local manufacturers by providing them resources. Thus, Solid State and Other Energy-Efficient lighting market has a strong potential across the major countries.
Request for Sample Report at https://www.prominentmarketresearch.com/sample-report/34300
On the other hand, the automotive sector is expected to grow at the highest CAGR during the year 2018-2023. Solid state lightings are being used in the lights of some top automotive manufacturers. It is predicted that OLEDs will be used in the interiors of the cars in the coming years.
Key Benefits for Stakeholders
Solid State and Other Energy-Efficient Lighting Manufacturers, Distributors and Retailers
Raw material and equipment suppliers
Technology Standards Organizations, Forums, Alliances and Associations
End use industries
Government bodies
By Sector
Commercial Sector
Residential Sector
Industrial Sector
Others
By Technology
Solid-State Lighting
-LEDs
-OLEDs
Fluorescent Lighting
-LFL
-CFL
-CCFL
By Application
General Lighting
Automotive Lighting
Medical Lighting
Others
By Region
North America
Europe
Asia-Pacific
ROW
Key Market Players
General Electric Company
OSRAM Light AG
Panasonic Corporation
Mitsubishi Electric Corporation
Koninklijke Philips N.V.
Eaton Corporation PLC
Samsung Electronics Co. Ltd.
Honeywell International, Inc.
Nichia Corporation
Acuity Brands Lighting, Inc.
Purchase Report Now at https://www.prominentmarketresearch.com/checkout/34300
About Prominent Market Research:
At Prominent Market Research, we are committed to provide the best possible service and recommendations to all our customers. You will be able to speak to seasoned analyst who will understand your research needs accurately. We make it our business to look after yours, with an efficient and friendly team always available to help you.
Contact Information:
Prominent Market Research
Robin
Tel: +1-815-957-4373
Email us
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Prominent Market Research
Robin
Tel: +1-815-957-4373
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results