Solid State Lighting System Application Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies & Forecasts, 2015 To 2022

The solid state lighting system application market has been experiencing significant growth over the forecast period. This growth can be attributed to increasing demand for eco-friendly and energy-saving lighting technology. Technological developments in the lighting industry aim at providing higher lighting output at less power consumption. Lighting comprises a significant share in the total energy consumption across the global. Solid state lighting can be found in directional lamp fittings such as down-lights and under-cabinet lighting; outdoor lighting, as well as niche applications such as commercial refrigeration display, roadway lighting, and automobile day-running lamps.

Solid state lighting system application has replaced the conventional incandescent and fluorescent lamps for general lighting purposes. Solid state lighting has the potential to revolutionize the lighting market with the introduction of energy-efficient light sources Conventional incandescent bulbs are expected to attain obsolescence with the arrival of high brightness LEDs. Solid state lighting technology demand is anticipated to increase at a fast pace with continuous improvements in light quality, efficacy, and operating life.

Key factors such as durability, long life, and energy savings factors are expected to strengthen the platform for solid state lighting system market growth. Better quality light output, smaller and flexible light fixtures, robust weather proof design combined with intrinsic safety are expected to exponentially augment the demand for solid state lighting system. Solid state lighting system neither contains hazardous substances nor ultra violet radiations, making it eco-friendly. Solid state lighting system application device can function at a lower temperature than a typical CFL, which is expected to favorably impact market growth.

However, higher costs in comparison to incandescent lamps, replacement of lighting source, and heat dissipation along with short illumination are some of the key factors that may curb solid state lighting system application market growth over the forecast period. Favorable government initiatives towards reducing the cost associated with the technology coupled with huge investment within the industry is estimated to increase the solid state lighting system application consumer base.

The solid state lighting system application market can be segmented into LED, Organic Light Emitting Diode (OLED), compact fluorescent lamps, and cold cathode fluorescent lamps. LED lighting is expected to undergo major change with the optimization of flow, increasing degree of completeness, and co-ordination along with elimination of human involvement. Major solid state lighting system application market is concentrated in North America. The demand for solid states lighting system is expected to significantly boost owing to the imminent ban on the use of incandescent bulbs in the U.S and parts of Europe and Asia Pacific.

Notable players in solid state lighting system application market include Aixtron AG, Automotive Lighting LLC, Bridgelux Inc., Data Display Products Inc., Energy Focus Inc., GE Lighting, Nichia Group, Royal Philips Electronics, and Toshiba Lighting Products.