Reports
Global Solid State Lighting Market: By Type: LED, OLED, PLED; By Installation Type: New Installation, Retrofit; By Application: Indoor Lighting, Outdoor Lighting, Speciality Lighting; By Industry Vertical; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics; Competitive Landscape; Industry Events and Developments
Global Solid State Lighting Market Outlook
The global solid state lighting market attained a value of USD 33.17 billion in 2020. The market is further expected to grow in the forecast period of 2023-2028 at a CAGR of 12.2% to reach USD 66.18 billion by 2026.
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Growing Replacement of Conventional Lighting Systems with Solid State Lighting to Aid the Market Growth
The solid state lighting industry is expected to witness a growth over the forthcoming years due to the wider adoption of the product across various industry verticals. As LEDs have become more efficient and affordable, their wider use in decentralised energy systems has been a boon for energy access, where they are rapidly replacing conventional lighting systems. Thus, LEDs, with a continuous growth of their luminous efficiencies, are witnessing a robust demand. In the long run, solid state lighting is cost-effective, even though the initial equipment and installation cost is high. The mass production of LED lamps and evolving lighting technologies are expected to further reduce the prices and increase their demand in the future. These factors are expected to support the market growth of solid state lighting.
Solid State Lighting: Market Segmentation
Solid state lighting (SSL) refers to a type of technology that uses semiconductor light-emitting diodes (LEDs), polymer light-emitting diodes (PLED), and organic light-emitting diodes (OLED) as sources of lighting rather than conventional incandescent and fluorescent lamps.
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The types of solid state lighting are as follows:
- LED
- OLED
- PLED
The major installation types of solid state lighting are as follows:
- New Installation
- Retrofit
The market can be broadly categorised on the basis of its application into:
- Indoor Lighting
- Outdoor Lighting
- Speciality Lighting
The major industry verticals for the market are as follows:
- Residential
- Industrial and Commercial
- Medical
- Transportation
- Others
The EMR report looks into the global markets of solid state lighting like North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
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Energy Saver Capability and Cost-Effectiveness of Solid State Lighting is Driving the Market Growth
Solid state lighting is considered to be a more viable lighting option as it consumes 50% and 85% less electricity as compared to fluorescent lamps and incandescent lights, respectively, making it more environment-friendly and cost-effective. It has a better life as compared to other options available in the market, making it the best option available for libraries and offices. These factors have supported the market growth of solid state lighting.
Solid state lighting uses energy-saving technology, which is further supporting the market growth due to the increasing demand for higher efficiency of lighting. The increased awareness and supportive initiatives by the governments for the use of environmentally friendly lighting technologies is further expected to boost the market growth over the forecast period. Moreover, emerging opportunities in smart city technologies and the emergence of smart lighting are projected to offer lucrative opportunities for the growth of the solid state lighting industry.
Key Industry Players in the Global Solid State Lighting Market
The report presents a detailed analysis of the following key players in the global solid state lighting market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- Cree, In
- Energy Focus, Inc.
- General Electric Company
- Toshiba Corporation
- Osram Licht AG
- Samsung Electronics Co., Ltd
- Others
The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report | Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Installation Type, Application, Industry Vertical, Region |
| Breakup by Type | LED, OLED, PLED |
| Breakup by Installation Type | New Installation, Retrofit |
| Breakup by Application | Indoor Lighting, Outdoor Lighting, Speciality Lighting |
| Breakup by Industry Vertical | Residential, Industrial and Commercial, Medical, Transportation, Others |
| Breakup by Region | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Market Dynamics | SWOT, Porter's Five Forces, Key Indicators for Price and Demand |
| Competitive Landscape | Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications |
| Companies Covered | Cree, Inc., Energy Focus, Inc., General Electric Company, Toshiba Corporation, Osram Licht AG, Samsung Electronics Co., Ltd, Others |
| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Solid State Lighting Market Analysis
8.1 Key Industry Highlights
8.2 Global Solid State Lighting Historical Market (2018-2022)
8.3 Global Solid State Lighting Market Forecast (2023-2028)
8.4 Global Solid State Lighting Market by Type
8.4.1 LED
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 OLED
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.4.3 PLED
8.4.3.1 Market Share
8.4.3.2 Historical Trend (2018-2022)
8.4.3.3 Forecast Trend (2023-2028)
8.5 Global Solid State Lighting Market by Installation Type
8.5.1 New Installation
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.2 Retrofit
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.6 Global Solid State Lighting Market by Application
8.6.1 Indoor Lighting
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Outdoor Lighting
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.6.3 Speciality Lighting
8.6.3.1 Market Share
8.6.3.2 Historical Trend (2018-2022)
8.6.3.3 Forecast Trend (2023-2028)
8.7 Global Solid State Lighting Market by Industry Vertical
8.7.1 Residential
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Industrial and Commercial
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Medical
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Transportation
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Others
8.8 Global Solid State Lighting Market by Region
8.8.1 North America
8.8.1.1 Market Share
8.8.1.2 Historical Trend (2018-2022)
8.8.1.3 Forecast Trend (2023-2028)
8.8.2 Europe
8.8.2.1 Market Share
8.8.2.2 Historical Trend (2018-2022)
8.8.2.3 Forecast Trend (2023-2028)
8.8.3 Asia Pacific
8.8.3.1 Market Share
8.8.3.2 Historical Trend (2018-2022)
8.8.3.3 Forecast Trend (2023-2028)
8.8.4 Latin America
8.8.4.1 Market Share
8.8.4.2 Historical Trend (2018-2022)
8.8.4.3 Forecast Trend (2023-2028)
8.8.5 Middle East and Africa
8.8.5.1 Market Share
8.8.5.2 Historical Trend (2018-2022)
8.8.5.3 Forecast Trend (2023-2028)
9 North America Solid State Lighting Market Analysis
9.1 United States of America
9.1.1 Market Share
9.1.2 Historical Trend (2018-2022)
9.1.3 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Market Share
9.2.2 Historical Trend (2018-2022)
9.2.3 Forecast Trend (2023-2028)
10 Europe Solid State Lighting Market Analysis
10.1 United Kingdom
10.1.1 Market Share
10.1.2 Historical Trend (2018-2022)
10.1.3 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Market Share
10.2.2 Historical Trend (2018-2022)
10.2.3 Forecast Trend (2023-2028)
10.3 France
10.3.1 Market Share
10.3.2 Historical Trend (2018-2022)
10.3.3 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Market Share
10.4.2 Historical Trend (2018-2022)
10.4.3 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Solid State Lighting Market Analysis
11.1 China
11.1.1 Market Share
11.1.2 Historical Trend (2018-2022)
11.1.3 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.3 India
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Market Share
11.5.2 Historical Trend (2018-2022)
11.5.3 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Solid State Lighting Market Analysis
12.1 Brazil
12.1.1 Market Share
12.1.2 Historical Trend (2018-2022)
12.1.3 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Market Share
12.2.2 Historical Trend (2018-2022)
12.2.3 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Market Share
12.3.2 Historical Trend (2018-2022)
12.3.3 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Solid State Lighting Market Analysis
13.1 Saudi Arabia
13.1.1 Market Share
13.1.2 Historical Trend (2018-2022)
13.1.3 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Market Share
13.2.2 Historical Trend (2018-2022)
13.2.3 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Market Share
13.3.2 Historical Trend (2018-2022)
13.3.3 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Market Share
13.4.2 Historical Trend (2018-2022)
13.4.3 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Cree, Inc.
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Energy Focus, Inc.
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 General Electric Company
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 Toshiba Corporation
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 Osram Licht AG
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Samsung Electronics Co., Ltd
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Solid State Lighting Market: Key Industry Highlights, 2018 and 2028
2. Global Solid State Lighting Historical Market: Breakup by Type (USD Billion), 2018-2022
3. Global Solid State Lighting Market Forecast: Breakup by Type (USD Billion), 2023-2028
4. Global Solid State Lighting Historical Market: Breakup by Installation Type (USD Billion), 2018-2022
5. Global Solid State Lighting Market Forecast: Breakup by Installation Type (USD Billion), 2023-2028
6. Global Solid State Lighting Historical Market: Breakup by Application (USD Billion), 2018-2022
7. Global Solid State Lighting Market Forecast: Breakup by Application (USD Billion), 2023-2028
8. Global Solid State Lighting Historical Market: Breakup by Industry Vertical (USD Billion), 2018-2022
9. Global Solid State Lighting Market Forecast: Breakup by Industry Vertical (USD Billion), 2023-2028
10. Global Solid State Lighting Historical Market: Breakup by Region (USD Billion), 2018-2022
11. Global Solid State Lighting Market Forecast: Breakup by Region (USD Billion), 2023-2028
12. North America Solid State Lighting Historical Market: Breakup by Country (USD Billion), 2018-2022
13. North America Solid State Lighting Market Forecast: Breakup by Country (USD Billion), 2023-2028
14. Europe Solid State Lighting Historical Market: Breakup by Country (USD Billion), 2018-2022
15. Europe Solid State Lighting Market Forecast: Breakup by Country (USD Billion), 2023-2028
16. Asia Pacific Solid State Lighting Historical Market: Breakup by Country (USD Billion), 2018-2022
17. Asia Pacific Solid State Lighting Market Forecast: Breakup by Country (USD Billion), 2023-2028
18. Latin America Solid State Lighting Historical Market: Breakup by Country (USD Billion), 2018-2022
19. Latin America Solid State Lighting Market Forecast: Breakup by Country (USD Billion), 2023-2028
20. Middle East and Africa Solid State Lighting Historical Market: Breakup by Country (USD Billion), 2018-2022
21. Middle East and Africa Solid State Lighting Market Forecast: Breakup by Country (USD Billion), 2023-2028
22. Global Solid State Lighting Market Structure
Key Questions Answered in the Report
In 2020, the global solid state lighting market attained a value of nearly USD 33.17 billion.
The market is projected to grow at a CAGR of 12.2% between 2021 and 2026.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach about USD 66.18 billion by 2026.
The growing adoption of solid state lighting due its properties like being energy and cost efficient factors was the major driver for the growth of the solid state industry.
The rising demand for organic LEDs in medical devices and biological implants is expected to be a key trend guiding the growth of the market.
The major regions in the market are North America, Latin America, the Asia Pacific, the Middle East and Africa, and Europe.
The leading types of solid state lighting in the industry are LED, OLED, and PLED.
The significant installation types of solid state lighting in the market are new installation and retrofit.
Indoor lighting, outdoor lighting, and speciality lighting are the the major application segments of solid state lighting in the industry.
The significant industrial verticals of the market are residential, industrial and commercial, medical, and transportation, among others.
The major players in the industry are Cree, Inc., Energy Focus, Inc., General Electric Company, Toshiba Corporation, Osram Licht AG, and Samsung Electronics Co., Ltd, among others.
Analyst Review
The global solid state lighting market attained a value of USD 33.17 billion in 2020, driven by the energy saving and cost reduction characteristics. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2023-2028, growing at a CAGR of 12.2%. The market is projected to reach USD 66.18 billion by 2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on types, the solid state lighting industry can be segmented into LED, OLED, and PLED. On the basis of installation type, the market is classified into new installation and retrofit. The major regional markets for solid state lighting are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Cree, Inc., Energy Focus, Inc., General Electric Company, Toshiba Corporation, Osram Licht AG, and Samsung Electronics Co. Ltd, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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