The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The increasing demand for energy-saving and environmentally-friendly lighting technologies is driving the growth of the global SSL and other energy-efficient lighting systems market. The advancement in optoelectronics has revolutionized the lighting market and led to the introduction of highly efficient technologies such as LED and OLED. Environmental concerns have an impact on the market for conventional lighting technologies such as incandescent lamps, halogens, and fluorescent lighting. Therefore, there is a need for low-power-consuming lighting systems, which are environmentally friendly, and can provide illumination for a significantly long time. SSL technologies, like LED and OLED, can satisfy all these needs and provide greater illumination for a wide range of lighting applications.
FL is currently the most popular technology in the market for lighting applications as it is more energy-efficient than incandescent lamps and halogens, and generates minimal heat. However, this technology uses mercury vapor; which is poisonous. Hence, broken and used fluorescent lamps can be an environmental hazard if not disposed properly. This has become a major concern for governments and environmentalists all over the world. SSL is being promoted as the best alternative to all conventional lighting technologies as it overcomes all these drawbacks.
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. LEDs were initially 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. High-brightness LEDs, which can give a sense of natural light, are ideal for illumination of homes, office spaces, streets, and other commercial establishments.
In this report, the lighting market has been segmented into SSL and FL technologies. The market for type of installation is categorized into new installation and retrofit. The application segment includes general lighting, backlighting, automotive lighting, medical lighting, and others. The industry vertical segment covers residential, commercial, educational, consumer electronics, industrial, medical, and transportation. In all of the market segments, each product type, application, and industry vertical has been analyzed in terms of the qualitative and quantitative aspect, and includes all sub-segments with a detailed analysis. The competitive landscape section primarily focuses on key industry players in the lighting market, their latest developments, and respective market share. Furthermore, the report entails emerging market trends, advancements in the technological space, market demand of segments, key growth areas, market size, region-wise demand factors, and key competitors’ analysis.
The geographic segmentation of the SSL & FL market covers four major regions of the world, namely, North America, Europe, Asia-Pacific, and Rest of the World (RoW). The report also profiles major players in the lighting market. Some of the major players in this market are Osram Licht AG (Germany), Royal Philips Electronics N.V (Netherlands), Nichia Corporation (Japan), Seoul Semiconductor Co. Ltd. (South Korea), and General Electric Company (U.S.).