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Solid State Lighting Market: Analysis & Forecast 2013-2018

Global solid state lighting market: $56.8 billion industry forecast by 2018


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2014-01-21 21:45:01 - Solid State Lighting Market: Analysis & Forecast 2013-2018 - a new market research report on companiesandmarkets.com

The global solid state lighting market is expected to reach $56.79 billion by 2018, at a CAGR of 18.7% from 2013 to 2018. Backlighting and general lighting application will contribute the highest share to the global solid state lighting applications market with a share of 87% in 2012 and is expected to record high growth in coming years.

APAC is the leading region in the overall solid state lighting market with 50% of market share in 2012; followed by North America and Europe with 23.9% and 19.9% each in 2012. In ROW, Russia, Brazil and the Middle East are the largest contributors with total share of 6.3% occupied in global solid state lighting market. The increasing demand for energy-saving and environment-friendly

 

 

lighting technology is driving the growth of the global solid state and other energy efficient lighting systems market.

LED manufacturers are shifting their focus to producing lighting products due to decreasing demand in backlighting applications. The main reason for the decrease in backlighting applications is the higher penetration of OLEDs in the display market. Going forward, with decreasing production costs, prices of OLED panels will decline and OLED will further penetrate into the display market replacing LCD and LED display technologies. Scores of Asian companies such as Samsung LED Co. Ltd (South Korea) and LG Innotek Co. Ltd. (South Korea)have geared up to emerge as dominant players in the OLED equipment and materials market. The PLED market is still in its nascent stage of production, and has not been fully commercialized. Production of PLED has been restricted to small displays with limited number of applications.

The development of technologies such as optoelectronics has revolutionized the lighting market. Environmental concerns are driving the low-power-consuming lighting systems, and therefore most of the recent developments in the lighting market aim at providing more energy-efficient products that give higher light output at less power consumption.

Major players in Solid State lighting market include: Cree Inc (U.S.), GE lighting (U.S), Philips Lighting (Netherlands), OSRAM GmbH (Germany), Nichia Corporation (Japan), Veeco Instruments Inc (U.S.), Applied Materials Inc (U.S.), LG (South Korea), and Everlight Electronics Corp Ltd (Japan).

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