Global Solid State Lighting Market

Global Solid State Lighting Market Size, Share, Growth Analysis, By Installation Type(New Installation and Retrofit), By Type(LED, OLED) - Industry Forecast 2024-2031

Report ID: SQMIG55F2022 | Region: Global | Published Date: April, 2024
Pages: 182 | Tables: 61 | Figures: 77

Global Solid State Lighting Market News

  • In March 2024, Semilux International Ltd. (NASDAQ: SELX), a company specializing in application-specific integrated circuit (ASIC), LiDAR, and ADB components and solutions, revealed the commencement of a research and development (R&D) program. The program involves collaboration with academics and scholars from universities in Taiwan to jointly develop an advanced domestic solid-state LiDAR module tailored for automotive applications.

  • In October 2023, GRE Alpha chose Global Lighting and Controls as their marketing partner following a thorough evaluation process. Global Lighting and Controls stood out for their deep understanding of the LED component marketplace and their strong organizational capabilities.

  • In April 2023, SK and Korea Hydro & Nuclear Power (KHNP) forged a strategic collaboration agreement with TerraPower, a US-based company specializing in small modular reactor (SMR) designs. This partnership aims to lead the market for SMRs, which are considered the next-generation of the energy sector.

$5,300
BUY NOW GET FREE SAMPLE
Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Solid State Lighting Market size was valued at USD 44.03 billion in 2022 and is poised to grow from USD 49.27 billion in 2023 to USD 121.12 billion by 2031, at a CAGR of 11.9% during the forecast period (2024-2031).

Due to ongoing research and development, as well as the efforts of value chain actors, the global solid state lighting market is extremely competitive. Significant firms are also putting various corporate growth strategies into practice in order to strengthen their presence on a regional and global level. 'Signify NV (Netherlands)', 'OSRAM GmbH (Germany)', 'Cree, Inc. (United States)', 'Nichia Corporation (Japan)', 'Lumileds Holding B.V. (Netherlands)', 'Samsung Electronics Co., Ltd. (South Korea)', 'LG Innotek Co., Ltd. (South Korea)', 'Seoul Semiconductor Co., Ltd. (South Korea)', 'Eaton Corporation PLC (Ireland)', 'Zumtobel Group AG (Austria)', 'Acuity Brands, Inc. (United States)', 'General Electric Company (United States)', 'Panasonic Corporation (Japan)', 'MLS Co., Ltd. (China)', 'Everlight Electronics Co., Ltd. (Taiwan)', 'Bridgelux, Inc. (United States)', 'TCP International Holdings Ltd. (Switzerland)', 'Cree Hong Kong Limited (Hong Kong)', 'Hubbell Incorporated (United States)', 'Feit Electric Company (United States)', 'Cooper Industries, LLC (United States)', 'Seoul Viosys Co., Ltd. (South Korea)'

One of the primary drivers for the adoption of solid state lighting is its superior energy efficiency. LEDs and OLEDs consume significantly less energy than traditional lighting technologies, resulting in reduced electricity bills and lower carbon emissions. The growing global emphasis on energy conservation and sustainability is driving the demand for energy-efficient lighting solutions.

Focus on Human-centric Lighting: Human-centric lighting, also known as circadian lighting, is gaining attention in the solid-state lighting market. This approach emphasizes the impact of lighting on human health, well-being, and productivity. Solid state lighting technologies, with their controllability and colour tuning capabilities, can mimic natural light cycles and adjust lighting conditions to promote better sleep, mood regulation, and enhanced performance. The integration of sensors and intelligent control systems enables dynamic lighting scenarios that adapt to the needs of individuals or specific environments.

The largest market participant globally, Asia-Pacific is anticipated to develop at a CAGR of 13% over the forecast period. The market for solid-state lighting in the Asia-Pacific region is dominated by governmental legislation and regulations, which encourages long-term financial investments in the industry. A potential opportunity for market expansion is also created by the rising popularity of smart lighting in Asia-Pacific. Thanks to technical developments, the LED industry in Asia-Pacific is expanding. The advantages of LEDs, such as their long durability, dependability, and tiny size, are driving the market's expansion. The rising demand for low-power lighting options will present numerous opportunities for the market's top competitors.

Request Free Customization

Want to customize this report? This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time. We offer $1000 worth of FREE customization at the time of purchase.

Click here right-arrow
logo-images

Related Reports

Global Solid State Lighting Market

Report ID: UCMIG55F2059 | Region: Global | Published Date: April, 2024 | Pages: 165 | Tables: Figures:

Molten Salt Thermal Energy Storage Market
Buy Now GET FREE SAMPLE
Global Solid State Lighting Market

Report ID: UCMIG55F2025 | Region: Global | Published Date: April, 2024 | Pages: 165 | Tables: Figures:

Direct Methanol Fuel Cells Market
Buy Now GET FREE SAMPLE
Global Solid State Lighting Market

Report ID: SQMIG55F2030 | Region: Global | Published Date: April, 2024 | Pages: 157 | Tables: 64 | Figures: 65

Global Geothermal Power Market
Buy Now GET FREE SAMPLE
Global Solid State Lighting Market

Report ID: UCMIG55F2056 | Region: Global | Published Date: April, 2024 | Pages: 165 | Tables: Figures:

Power-To-Gas Market
Buy Now GET FREE SAMPLE

Feedback From Our Clients

Global Solid State Lighting Market

Product ID: SQMIG55F2022

$5,300
BUY NOW GET FREE SAMPLE